Peel Mining Encounters Shallow Gold Intercepts From Drilling at New South Wales Prospect; Shares Fall 4%

MT Newswires Live

2025/11/27

Peel Mining (ASX:PEX) said drilling at the Nombinnie gold prospect in New South Wales returned shallow gold intercepts, according to a Thursday Australian bourse filing.

The company completed 20 reverse circulation drill holes for 2,706 meters, the filing said. It encountered intercepts of 33 meters at 2.5 grams per tonne grade of gold from 21 meters, as well as 6 meters at 1.2 grams per tonne grade of gold from 22 meters.

It secured three grants from the New South Wales government for soil geochemistry projects for the Glenwood, Mount Victor, and Salt Creek prospects totaling AU$42,700, as well as three further grants for geophysical projects for the Armageddon, Red Shaft, and Salt Creek prospects totaling AU$72,300, the filing added.

Peel Mining's shares fell past 4% in recent trading on Thursday.

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It encountered intercepts of 33 meters at 2.5 grams per tonne grade of gold from 21 meters, as well as 6 meters at 1.2 grams per tonne grade of gold from 22 meters.It secured three grants from the New South Wales government for soil geochemistry projects for the Glenwood, Mount Victor, and Salt Creek prospects totaling AU$42,700, as well as three further grants for geophysical projects for the Armageddon, Red Shaft, and Salt Creek prospects totaling AU$72,300, the filing added.Peel Mining's shares fell past 4% in recent trading on Thursday.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}