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Peel Mining Limited ( (AU:PEX) ) has shared an announcement.
Red Hill Minerals has completed a maiden five-hole, 3,734-metre diamond drilling program at its Broken Hill Project in New South Wales, returning broad intervals of Broken Hill Type lead-zinc-silver mineralisation and confirming the exploration potential of several targets. The standout results came from the Dementus target, where drillhole 25DMDD001 intersected a 91.1-metre interval grading 0.1% lead and 0.3 g/t silver within a more than 250-metre BHT lode package from 263 metres depth, along with a deeper 152.6-metre zone of zinc alteration grading 0.2% zinc and 1.3 g/t silver from 658 metres. Additional drilling at the Woolly, Immortan and K1 targets returned lower-grade but supportive mineralised intervals, including broad zinc and narrower copper-gold intersections, underscoring a large mineralised system. On the back of these results, Red Hill will prioritise the Dementus target, with high-resolution gravity and audio-magnetotelluric surveys scheduled to begin in February, marking a shift into more focused follow-up work that could refine drill targets and enhance the project’s potential significance within the Curnamona Province.
The most recent analyst rating on (AU:PEX) stock is a Hold with a A$0.17 price target. To see the full list of analyst forecasts on Peel Mining Limited stock, see the AU:PEX Stock Forecast page.
More about Peel Mining Limited
Red Hill Minerals Limited is an Australian exploration company focused on discovering and developing base and precious metal deposits, with a particular emphasis on lead-zinc-silver and polymetallic systems. The company is advancing its interests in the highly prospective Curnamona Province through an earn-in joint venture with Peel Mining Limited, targeting Tier 1-style deposits beneath cover on the Mundi Mundi Plains in New South Wales.
Average Trading Volume: 1,395,597
Technical Sentiment Signal: Buy
Current Market Cap: A$129.4M
See more insights into PEX stock on TipRanks’ Stock Analysis page.