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Peel Mining leveraged to exploration upside as partner begins work

Published: 17:29 18 Jan 2018 EST

map of new south wales
The project is in the Cobar region of New South Wales

Peel Mining Ltd (ASX:PEX) has provided shareholders with another avenue for exploration success through its farm-in agreement with Talisman Mining Ltd (ASX:TLM).

Talisman has now has commenced on-ground exploration activities on the Lachlan Copper-Gold Project in New South Wales.

Under the farm-in agreement, Talisman has the right to earn up to 75% of two granted exploration licences through expending a total of $700,000 over 5 years.

Reconnaissance mapping and prospecting underway

Talisman has commenced reconnaissance field mapping and rock-chip sampling over prospective areas identified from desk-top studies.

Preparation work for the commencement of a geochemical drill campaign across multiple targets is underway.

Detailed regional structural review of controls to mineralisation is in final stages, with specific targeting exercise to follow.

READ: Peel Mining’s drilling reveals high grade zinc-lead-silver in New South Wales

Peel’s projects cover more than 5,000 square kilometres across New South Wales and Western Australia.

Peel had a successful 2017 year, which saw its share price triple.

The share price was largely driven by the high-grade zinc-lead-silver discovery made at the Southern Nights prospect within its Wagga Tank Project near Cobar in New South Wales.

The success of Peel has attracted the $1.9 billion gold miner St Barbara (ASX:SBM) as a major investor and shareholder.

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