Peel Exploration Limited (ASX:PEX) Quarterly Activities Report for the Period Ending 31 March 2010
Sydney, May 4, 2010 AEST (ABN Newswire) - Peel Exploration Limited (
ASX:PEX) provides the quarterly activities report, with the following summary. The Company has six 100%-owned tenements/ELAs covering approximately 550 km2 of highly prospective tenure in New South Wales.
These projects comprise the Attunga, May Day, Dungowan, Armidale, Mt Tennyson East and Yerranderie tenements and are host to numerous historic mines and workings.
Peel's core asset - the Attunga Tungsten Deposit - is a high grade tungsten deposit located near excellent infrastructure.
May Day gold-lead-zinc VMS deposit on granted mining lease near Cobar offers commodity and risk diversification with exciting exploration potential.
Highlights for March quarter 2010 include:
- Significant molybdenum-copper mineralisation intercepted in drilling at Attunga.
- Regional geological mapping programme completed at Attunga.
- Transfer of May Day mining lease (ML1361) to Peel completed.
- EL7461 granted (Gilgunnia, approximately 84km2, surrounds May Day ML1361).
- Commencement of 2,000m May Day drilling programme (first drilling in 20 years).
- May Day/Gilgunnia gravity and IP geophysical surveys completed.
- Modelling of May Day/Gilgunnia gravity, IP and regional magnetic data underway.
- Desktop study of historical May Day drilling and geological data including 3D modelling.
Plans for June quarter 2010
- Completion by mid-May of drilling at May Day and Attunga Copper Mine.
- Interpretation of May Day and Attunga drilling data.
- Continue desktop studies on May Day resource potential.
For the full quarterly report, please visit:
http://www.abnnewswire.net/media/en/docs/62792-ASX-PEX-489572.pdf
Contact
Peel Mining Limited
T: +61-8-9382-3955
F: +61-8-9388-1025
E: info@peelex.com.au
WWW: www.peelex.com.au
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