PEX 0.00% 11.5¢ peel mining limited

Yes - as others have said - some seriously good preliminary...

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  1. 1,378 Posts.
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    Yes - as others have said - some seriously good preliminary results from Southern Nights. RC drillholes stopped in mineralization.

    Fig 2 is interesting but a few things to note on that section. Firstly important to note that although diamond hole WTRCD021 appears on this section, the actual hole swung wildly to the north and really testing rocks further north that the high grade intercepts seen in hole WTRC033, note that hole WTRC035 is actually located a bit further south than holes 33 and 34.  Hole WTRC034 is more problematic to explain how it has such very low numbers unless the ore zone is very steeply dipping to the west.

    Assuming the holes were drilled in numerical order (not always a safe assumption) I find it interesting that they drilled hole 33 and got bonkers numbers out of that hole before the water inflows forced the hole to be abandoned, so then they presumably moved the rig forward (to the west) and drilled hole 34 and but nothing, they then moves south along strike and drilled hole 35 and got bonkers grades again before the water made the hole impossible to continue with RC.
    upload_2017-10-19_11-11-7.png   
    Logically it would follow that with the RC rig they currently have on-site they would be drilling along strike to the north (back towards the main Wagga Tank orebody) and also maybe a few holes to the south along strike towards hole 31  to help resolve why hole 31 came up with nothing much. Will be a balancing act as they can't step back too far with the current RC rig as they will run into the same problem with water slowing progress at depth, any RC holes that are abandoned could be used as precollars for future diamond tails.

    Whatever the case may be - it looks like the orebody at Wagga Tank is about to get at least one more high grade base metal lens added to it with further drilling work to prove it up. Feeling a bit better about "bottom-drawing" my PEX shares now.
 
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