Tuesday June 9, 2015: Peel Mining (PEX) shares virtually doubled this morning on the back of "spectacular" drilling results from its Mallee Bull zinc project near Cobar in NSW.
Peel said drilling at the T1 Target returned results such as 12m at 20.3 per cent zinc, 6m at 10.57 per cent zinc and 6m at 10.3 per cent zinc. The intersections also contained lead, copper, silver and gold.
The mineralisation was reported to be open in all directions and "greatly enhanced" the project's open pit mining potential.
Peel shares were 6c higher at 18.5c shortly before noon EST after trading as high as 24.5c. They have come from 6.5c since mid-May.
Peel said drilling at the T1 Target returned results such as 12m at 20.3 per cent zinc, 6m at 10.57 per cent zinc and 6m at 10.3 per cent zinc. The intersections also contained lead, copper, silver and gold.
The mineralisation was reported to be open in all directions and "greatly enhanced" the project's open pit mining potential.
Peel shares were 6c higher at 18.5c shortly before noon EST after trading as high as 24.5c. They have come from 6.5c since mid-May.