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PEEL MINING LIMITED Interim / Quarterly Report 2016

Jan 28, 2016

65545_rns_2016-01-28_0091b9c1-6454-4207-ac17-2e2836b1495f.pdf

Interim / Quarterly Report

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DECEMBER 2015 QUARTERLY REPORT 29 JANUARY 2016

Peel Mining Limited ASX code: PEX ACN: 119 343 734

Unit 1, 34 Kings Park Rd West Perth, WA 6005

Ph: (08) 9382 3955 E: [email protected] Web: www.peelmining.com.au

Contact:

Rob Tyson Managing Director [email protected]

Highlights for December quarter 2015

  • RC/diamond drilling at Mallee Bull returns

  • multiple new extensional mineralised intercepts:

  • 62m @ 3.15% Cu, 42 g/t Ag, 0.28 g/t Au from 465m, including 34m @ 4.6% Cu, 63 g/t Ag, 0.44 g/t Au from 475m in MBRCDD050

  • 5m @ 2.1% Cu, 59 g/t Ag, 0.72 g/t Au from 385m, 4m @ 1.18% Cu, 23 g/t Ag, 0.12 g/t Au from 398m, 4m @ 1.87% Cu, 18 g/t Ag, 0.87% Pb, 0.22% Zn from 403m in MBRCDD051

  • 13m @ 0.86% Cu, 33 g/t Ag, 1.39 g/t Au, 0.34% Pb, 0.68% Zn from 407m in MBRCDD050W1

  • 4m @ 1.52% Cu, 111 g/t Ag, 0.21 g/t Au, 2.52% Pb, 4.2% Zn from 197m in MBRC052

About Peel Mining Limited:

  • The Company’s five projects cover more than 4,000 km2 of highly prospective tenure in NSW and WA.

  • Mallee Bull is an advanced copperpolymetallic deposit that remains open in many directions.

  • Cobar Superbasin Project Farm-in Agreement with JOGMEC offers funded, highly-prospective and strategic greenfields exploration potential.

  • Apollo Hill hosts a major, protruding, shear-hosted, gold mineralised system that remains open down dip and along strike.

  • Attunga Tungsten Deposit is a high grade tungsten deposit.

  • 132 million shares on issue for $20m Market Capitalisation at 29 Jan 2016.

  • Second stage of exploration activities for the

  • Cobar Superbasin Project under the JOGMEC MoA continued with RC/diamond drilling at Wirlong, Red Shaft and Valvoline prospects.

  • New high-grade copper discovery confirmed

  • at Wirlong with multiple significant mineralised intercepts returned including:

  • 9m @ 8.0% Cu, 17 g/t Ag, 0.21 g/t Au from 616m (incl. 2.82m @ 21.85% Cu, 46 g/t Ag, 0.62 g/t Au from 619.68m), 38m @ 1.18% Cu, 4 g/t Ag from 450m in WLDD001

  • 4.9m @ 4.3% Cu, 13 g/t Ag from 402.1m (incl. 0.9m @ 19.5% Cu, 58 g/t Ag from 402.1m), 22m @ 1.0% Cu, 4 g/t Ag from 332m in WLRCDD015

Plans for March quarter 2016

  • RC/diamond drilling and geophysical surveys

  • continuing at Wirlong

  • RC drilling and metallurgical testwork at

  • Apollo Hill

Peel Mining Limited – Quarterly Report December 2015

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Exploration

Mallee Bull Project: Copper, Silver, Gold, Lead, Zinc; Western NSW (PEX 50% and Manager, CBH 50%).

Targets: Cobar-style polymetallic mineralisation; Volcanogenic Massive Sulphide mineralisation.

The Mallee Bull project is a 50:50 Joint Venture with CBH Resources Limited (CBH). A maiden JORC compliant Mineral Resource estimate was completed in May 2014, and comprises 3.9Mt at 2.3% copper, 32 g/t silver and 0.3 g/t gold. Details can be found in the announcement released 27 May 2014; "High Grade Copper Resource at Mallee Bull".

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Figure 1: Mallee Bull Drill Plan

Drilling

The December quarter saw the completion of seven drillholes (total 3,405m) and a diamond tail on hole 4MRC021 (initially RC drilled to 270m in 2012) testing for new mineralisation near the northern edge of the current Mallee Bull resource model, where substantial zinc-lead and copper-rich mineralisation has been defined to more than 500m below surface. Assay results have been received for all holes and highly encouraging intercepts returned, indicating greater strike continuity of copper mineralisation than previously assumed.

MBRCDD049, the first hole of this program, was designed to test for mineralisation at between 300400m below surface and is located ~120m further north than previous deep drilling. Multiple intervals of quartz-sulphide (chalcopyrite-pyrrhotite) stringer/breccia style mineralisation was intersected from ~350m down hole, including 5m @ 1.01% Cu, 12 g/t Ag from 371m, 2m @ 1.91% Cu, 23 g/t Ag, 0.25 g/t Au from 392m and 3m @ 2.42% Cu, 74 g/t Ag, 0.29 g/t Au, 0.87% Pb, 0.22% Zn from 403m.

Peel Mining Limited – Quarterly Report December 2015

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MBRCDD050 was drilled to test for mineralisation between 400-500m below surface and about 80m further north than previous deep drilling. A very broad interval of significant quartz-sulphide (chalcopyrite-pyrrhotite) stringer/breccia style mineralisation was intercepted; 62m (~40m true width) @ 3.15% Cu, 42 g/t Ag, 0.28 g/t Au from 465m, including 34m (~22m true width) @ 4.6% Cu, 63 g/t Ag, 0.44 g/t Au from 475m. This broad mineralised interval is significantly wider than the 3m footwall stringer interval previously modelled for this area.

MBRCDD051 was designed to test for mineralisation at between 350-450m below surface and about 80m further north than previous drilling. Multiple strong intervals of the stringer/breccia mineralisation similar to holes MBRCDD049 and MBRCDD050 were again intercepted from about 375m down hole, including 5m @ 2.1% Cu, 59 g/t Ag, 0.72 g/t Au from 385m, 4m @ 1.18% Cu, 23 g/t Ag, 0.12 g/t Au from 398m, 4m @ 1.87% Cu, 18 g/t Ag, 0.87% Pb, 0.22% Zn from 403m.

MBRCDD050W1 was completed to target ~80m down dip from MBRCDD050, and intersected ~13m of pyrite-pyrrhotite-chalcopyrite massive sulphide mineralisation: 13m @ 0.86% Cu, 33 g/t Ag, 1.39 g/t Au, 0.34% Pb, 0.68% Zn from 407m. The true width of this mineralisation is interpreted to be ~9m. Correlating with the "hanging-wall domain" present at Mallee Bull, this mineralisation occurs about 50m further north than the current modelled boundary position for this type of mineralisation. No significant stringer mineralisation was intercepted.

Holes MBDD026/026W1 were drilled to test for mineralisation at ~500m below surface and about 40m further north of drillhole MBRCDD050. Minor stringer mineralisation was intercepted from ~419m, including 2m @ 2.33% Cu, 46 g/t Ag, 0.62 g/t Au from 422m.

RC drillhole MBRC052 was also drilled along the northern edge of the Mallee Bull resource, testing beneath the high grade T1 Zn-Pb-Ag-rich mineralisation. Results again were highly encouraging, including a 4m intercept @ 1.52% Cu, 111 g/t Ag, 0.21 g/t Au, 2.52% Pb, 4.2% Zn from 197m.

RC drillhole 4MRC021, initially drilled by Peel in 2012, was extended by 126.4m with a diamond tail, aiming to target potentially deeper mineralisation however no significant additional mineralisation was intersected.

Geophysics

Downhole EM surveys of holes MBRCDD049 and MBDD026/026W1 were completed in November 2015, with four anomalies evident in the latter holes. Whilst the first anomaly at 360m is considered consistent with Mallee Bull, preliminary interpretation indicates the conductive source(s) of the anomalies between 450-600m are possibly orientated sub-parallel to the hole and highlights the potential for additional mineralisation further north of Mallee Bull.

Additional geophysical activities at Mallee Bull comprised of a Deep Ground Penetrating Radar (DGPR) survey over the deposit, as part of a trial to test the efficacy of the technology at depths far exceeding conventional GPR (which only has a depth range of 10-20m) for a fraction of the cost of seismic surveys. A response was confirmed over the Mallee Bull deposit, although further review of the data will be conducted to determine the effectiveness of the technique for application on Peel's tenure.

Peel Mining Limited – Quarterly Report December 2015

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Figure 2: Section 6413470N looking North

Peel Mining Limited – Quarterly Report December 2015

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Cobar Superbasin Project: Copper, Silver, Gold, Lead, Zinc; Western NSW (PEX 100%). Targets: Cobar-style polymetallic mineralisation; Volcanogenic Massive Sulphide mineralisation.

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Figure 3: Cobar Superbasin Project Tenements & Prospects

Peel Mining Limited – Quarterly Report December 2015

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The Cobar Superbasin Project is subject to a Memorandum of Agreement with Japan Oil, Gas, and Metals National Corporation (JOGMEC), under which JOGMEC may earn up to 50% interest by funding up to $7 million of exploration. Details of the JOGMEC MoA can be found in Peel's ASX Announcement released on 30 September 2014.

The second phase of activities under the JOGMEC MoA, encompassing at least $1.5 million expenditure, continued this quarter; activities have comprised moving loop EM (MLEM), downhole EM (DHEM), airborne magnetic surveys, RC and diamond drilling.

Wirlong

During the quarter, a total of 12 RC/diamond drillholes were completed at Wirlong for 4,324.5m. The prospect is defined by historic copper workings, a topographic high, a >2km surface multi-element surface geochemical anomaly, and coincident or semi-coincidental geophysical anomalies including magnetic, radiometric, gravity, IP and more recently electromagnetic. Results indicate that Wirlong represents a very large, mineralised, hydrothermal system with a strike length of more than 2.5km, and recent drilling has confirmed a new and potentially high grade copper discovery.

WLRCDD015 (611.7m) was drilled to target, along with gravity, IP chargeability and magnetic anomalies, the northern end of Wirlong's extensive multi-element geochemical anomaly. Initially drilled as an RC drillhole to 402m, the hole was extended with a diamond tail following the completion of DHEM surveying, which identified a conductor positioned beyond the end of hole. This conductor was explained by a 0.9m wide zone of massive chalcopyrite-dominant sulphide mineralisation. Significant intercepts from WLRCDD015 include:

  • 4.9m @ 4.3% Cu, 13 g/t Ag from 402.1m (incl. 0.9m @ 19.5% Cu, 58 g/t Ag from 402.1m)

  • 22m @ 1.0% Cu, 4 g/t Ag from 332m

  • 3m @ 2.1% Cu, 6 g/t Ag from 451m

  • 2m @ 1.8% Cu, 13 g/t Ag, 1.63% Zn from 524m

Diamond hole WLDD001, designed to follow-up WLRCDD015, also returned multiple significant mineralised intercepts including:

  • 9m @ 8.0% Cu, 17 g/t Ag, 0.21 g/t Au from 616m (incl. 2.82m @ 21.85% Cu, 46 g/t Ag, 0.62 g/t Au from 619.68m)

  • 38m @ 1.18% Cu, 4 g/t Ag from 450m

  • 6m @ 1.23% Cu, 5 g/t Ag from 430m

  • 4m @ 1.14% Cu, 3 g/t Ag from 643m

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Figure 4 – WLDD001 - 2.82m @ 21.85% Cu, 46 g/t Ag, 0.62 g/t Au from 619.68m

Peel Mining Limited – Quarterly Report December 2015

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Mineralisation in both holes comprises chalcopyrite-pyrrhotite+/-sphalerite+/-galena+/-pyrite and occurs as sulphide disseminations, veins and veinlets, breccia, and massive sulphides within occasionally sheared/deformed and altered (silica-chlorite-sericite) turbidite sediments and/or felsic volcanics (rhyolite/rhyodacite). The true width of mineralisation remains unknown at this stage however is thought to be sub-vertical in geometry.

Initially drilled to a depth of 728.5m, WLDD001 has been extended to 873.2m at the time of reporting following the completion of a DHEM survey, with mineralisation again present as sulphide disseminations throughout in varying concentrations. At the time of reporting, diamond drilling was continuing approximately 400m to the South to test the centre of the large multi-element geochemical anomaly, with additional geophysical surveying to follow.

Holes WLRCDD010 (426.6m) and WLRC011 (402m) were drilled to follow-up strong base metal results from previous RC drilling at Wirlong, testing to the north of holes WLRC005 and WLRC006 which returned intervals of 4m @ 3.04% Cu, 12 g/t Ag, 0.19% Zn from 196m and 2m @ 2.99% Cu, 1.08 g/t Au, 16 g/t Ag, 0.41% Zn from 322m respectively. Encouraging results were returned in WLRC011, with better intercepts including 3m @ 0.89% Cu, 0.16% Zn from 266m, 1m @ 0.74% Zn, 0.26% Pb from 334m and 2m @ 0.87% Zn, 0.41% Pb from 336m. Drillhole WLRCDD010 encountered a substantial zone of faulted/broken ground to the east of Wirlong and was terminated due to poor drilling conditions.

WLRC012-014, WLRC016 & WLRC017 were drilled to follow-up anomalous Pb, Zn, Cu results from RAB drilling at the northern end of the Wirlong prospect (incl. 9m @ 2.19% Pb, 0.11% Zn from 1m and 6m @ 1.01% Pb from 13m in WLRAB004). Better intercepts include:

  • 1m @ 1.11% Zn from 88m, 1m @ 1.35% Zn from 131m and 2m @ 0.84% Zn, 0.43% Pb from 137m in WLRC012

  • 2m @ 2.44% Zn, 0.38% Pb, 0.12% Cu from 124m in WLRC013

  • 1m @ 0.70% Pb from 247m in WLRC014

  • 1m @ 0.96% Zn, 0.42% Pb, 0.77 g/t Au from 80m and 7m @ 2.15% Zn, 0.57% Pb, 0.39 g/t Au from 82m including 3m @ 4.02% Zn, 0.99% Pb, 0.40 g/t Au from 84m in WLRC016

WLRC018 (252m) was drilled north of drillholes WLRC008 and WLRC009 (5m @ 1.64% Zn, 0.82% Pb, 2 g/t Ag from 93m, 1m @ 6.44% Zn, 3.81% Pb, 0.54% Cu, 18 g/t Ag from 113m in WLRC008; 19m @ 2.44% Zn, 0.39% Pb, 4 g/t Ag from 103m including 3m @ 6.90% Zn, 0.88% Pb, 12 g/t Ag from 120m in WLRC009), investigating anomalous historic results from drilling by CRA Exploration Pty Ltd in 1982 which included 9m @ 1.55% Zn, 0.59% Pb from 60m in RC hole PD82WP2. present throughout.

Broad zones of anomalous Pb-Zn-Cu values were also encountered in RC drillhole WLRC019 (252m), located to the south of WLRC008 and WLRC009.

WLRC020 (252m) was drilled approximately 1.2km south of WLRC019, however no significant results were returned.

Peel Mining Limited – Quarterly Report December 2015

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Figure 5: Wirlong Drill Plan with Gravity

Peel Mining Limited – Quarterly Report December 2015

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Figure 6: Red Shaft Drill Plan

Red Shaft

At the Red Shaft prospect, approximately 4km along strike from Wirlong to the SSE, previous exploration identified significant Au rock chip and As, Pb, Cu pXRF soil anomalies with positive results returned from RAB drilling programs (incl. 6m @ 0.44 g/t Au from 48m in RSRAB043, 1m @ 1.53% Pb, 0.20% Cu from 34m in RSRAB045). Six RC drill holes were completed as follow-up this quarter for a total 970m, with better intercepts including:

  • 10m @ 0.84 g/t Au, 0.20% Cu, 0.26% Pb from 60m including 4m @ 1.88 g/t Au, 0.35% Pb from 61m in RSRC003

  • 2m @ 0.41% Pb, 6 g/t Ag from 54m in RSRC004

  • 2m @ 0.44% Pb from 17m in RSRC005

  • 2m @ 0.32% Pb from 42m and 1m @ 0.32% Pb, 0.27% Cu from 91m in RSRC006

  • 5m @ 0.76% Cu

  • from 62m in RSRC007

As aforementioned, a detailed gravity survey was completed in October 2015 over both the Wirlong and Red Shaft prospects. The data delineated significant structural features and several positive gravity anomalies along the Wirlong and Red Shaft shear zone, some of which correlate with magnetic

anomalies and trends.

Peel Mining Limited – Quarterly Report December 2015

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Valvoline

The Valvoline prospect (also known as Woorara), located approximately 5km north of the Sandy Creek prospect, comprises two adjacent dipole magnetic anomalies of 17 and 22nT amplitudes. Two preliminary RAB drillholes (total 153m) were drilled over each magnetic high last quarter, with hole WWB002 returning an anomalous intercept of 1m @ 0.17% Pb from surface. Follow-up RC holes VARC001 and VARC002 (total 616.5m) were completed in November 2015 to target the magnetic anomalies at depth. Although no significant results were returned, it is noted that both holes failed to properly test the modelled magnetic anomalies.

Glenwood & Iris Vale

Airborne magnetic surveys were completed over EL8314 (Glenwood) and EL8113 (Iris Vale) tenements for a total 3,196 line km. The Glenwood tenement is host to a magnetic low anomaly which has the potential to represent pyrrhotite lodes characteristic of Cobar-style deposits as at the Sandy Creek prospect. At Iris Vale, the main prospect 'Peel-11' is defined by a reduced-to-pole magnetic high accompanied by a Bouguer gravity gradient anomaly associated with the basin margin and Erimeran Granite. The magnetic survey defined a number of discrete magnetic anomalies in both tenements, with modelling of the data indicating that the anomalies are basement sourced.

A moving loop EM Survey was also completed at Glenwood over the magnetic low anomaly in November 2015, however, the effectiveness of the survey was reduced by the presence of highly conductive cover, and a preliminary review identified no anomalies consistent with bedrock conductors.

Deep preliminary RAB/RC drilling and down hole EM surveys are warranted in the area to follow-up the magnetic targets, and to gain a better understanding of the geology and potential mineralisation.

Apollo Hill Project: Gold; Northeastern Goldfields WA (PEX 100%).

Targets: Archean gold deposits.

Activities this quarter at the main Apollo Hill deposit comprised of historic core sampling. Drillholes AAHD0002-004, AAHD0010-011, AAHD0014, AAHD0016, AAHD0018-020, AAHD0022 & AAHD0024 were drilled by Apex Minerals NL at the Apollo Hill deposit in 2006, as part of a 24-hole drilling program for a total 5,220.35m, and significant Au values were returned at the time including:

  • 2.26m @ 7.41 g/t Au from 192.74m in AAHD0002, including 1.26m @ 21.12 g/t Au from 192.74m

  • 1.3m @ 14.46 g/t Au from 96.7m and 0.55m @ 7.81 g/t Au from 133.45m in AAHD0004, including 0.25m @ 14.14 g/t Au from 133.75m

  • 2m @ 69.26 g/t Au from 146m, 0.45m @ 21.41 g/t Au from 241.05m and 3.8m @ 13.19 g/t Au from 260.95 in AAHD0010, including 1m @ 32.12 g/t Au from 260.95m

However, numerous interval gaps were present in which no samples were assayed. Core was taken for Au analysis in late 2015 by Peel from selected gaps, many of which were in close proximity to intervals of high Au as well as at the ends of holes. Encouragingly, multiple significant Au values were returned:

  • 1m @ 0.65 g/t Au from 223m in AAHD0002

  • 1m @ 0.89 g/t Au from 102m and 2m @ 3.41 g/t Au from 104m in AAHD0003

  • 1m @ 6.74 g/t Au from 165m in AAHD0004

  • 1m @ 0.85 g/t Au from 190m, 1m @ 1.04 g/t Au from 200m, 1m @ 0.50 g/t Au from 222m and 1m @ 2.91 g/t Au from 225m in AAHD0010

  • 1m @ 0.56 g/t Au from 187m in AAHD0011

  • 2m @ 1.18 g/t Au from 148m, 1m @ 1.23 g/t Au from 169m in AAHD0014

  • 1m @ 0.79 g/t Au from 176m in AAHD0018

  • 1m @ 1.71 g/t Au from 398m, 1m @ 2.59 g/t Au from 400m, 1m @ 3.60 g/t Au from 417m in AAHD0020

Peel Mining Limited – Quarterly Report December 2015

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  • 1m @ 2.39 g/t Au from 390m in AAHD0022

Over the broader Apollo Hill tenement package, a small soil and rock chip sampling was undertaken on E31/1076 'Mt Remarkable' located approximately 35km SE of the Apollo Hill resource. The main target on the licence is a strong discrete magnetic anomaly (named 'The Eye') in otherwise low-to-moderately responsive basalt. Minor Au values were returned. With NE trending structures at the anomaly crosscutting the main NW structural trend, further surface sampling is planned to investigate the area in greater detail.

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Figure 7: Apollo Hill Tenements & Geology

Peel Mining Limited – Quarterly Report December 2015

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Other Projects

No fieldwork was undertaken on any other project during the quarter.

Corporate

No corporate activity was completed during the quarter.

For further information, please contact Rob Tyson on mobile 0420 234 020.

Competent Persons Statements

The information in this report that relates to Exploration Results is based on information compiled by Mr Robert Tyson, who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Tyson has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.’ Mr Tyson consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

Mallee Bull Drill Collars

Hole ID Northing Easting Azi Dip Final Depth(m)
MBRCDD049 6413520 415135 88.14 -67.71 447.1
MBRCDD050X 6413480 415095 86 -68 15
MBRCDD050 6413481 415093 76.85 -72.61 600.8
MBRCDD051 6413481 415180 80.29 -75.03 513.8
MBRCDD050W1 6413481 415093 76.85 -72.61 651.5
MBDD026 6413519 415188 78.41 -79.92 282.4
MBDD026W1 6413519 415188 78.41 -79.92 660.4
MBRC052 6413450 415300 90 -60 249
4MRCDD021* 6413466 415220 92.72 -68.75 396.4

* Hole 4MRCDD021 was initially drilled as RC hole 4MRC021 (270m) in 2012. The diamond tail for 126.4m was drilled this quarter.

Wirlong, Red Shaft & Woorara RC & Diamond Drill Collars

Hole ID Northing Easting Azi Dip Final Depth(m)
WLRCDD010 6446380 418827 259.3 -66.5 366.2
WLRC011 6446408 418646 278.3 -66.3 402
WLRC012 6447399 418647 270 -65 252
WLRC013 6447498 418688 270 -65 252
WLRC014 6447600 418643 270 -65 252
WLRCDD015 6446955 418566 255.6 -65.2 611.7
WLRC016 6447486 418589 270 -65 250
WLRC017 6447601 418496 270 -65 249
WLRC018 6445899 418780 270 -65 252
WLRC019 6445411 418713 270 -65 252
WLRC020 6444300 419100 270 -65 252
RSRC003 6441884 419547 90 -60 204
RSRC004 6441945 419569 90 -60 204
RSRC005 6441999 419601 90 -60 190

Peel Mining Limited – Quarterly Report December 2015

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Hole ID Northing Easting Azi Dip Final Depth(m)
RSRC006 6441949 419546 91.8 -70 108
RSRC007 6441763 419525 91.8 -70 114
RSRC008 6442000 419282 91.8 -70 150
VARC001 6440445 415675 264 -75 354
VARC002 6439930 415690 264 -70 344
WLDD001 6447000 418660 255 -54.9 728.5
Mallee Bull RC/Diamond Drilling Significant Assay Results(1m intervals) Mallee Bull RC/Diamond Drilling Significant Assay Results(1m intervals) Mallee Bull RC/Diamond Drilling Significant Assay Results(1m intervals) Mallee Bull RC/Diamond Drilling Significant Assay Results(1m intervals) Mallee Bull RC/Diamond Drilling Significant Assay Results(1m intervals) Mallee Bull RC/Diamond Drilling Significant Assay Results(1m intervals) Mallee Bull RC/Diamond Drilling Significant Assay Results(1m intervals) Mallee Bull RC/Diamond Drilling Significant Assay Results(1m intervals)
Hole ID From(m) To(m) Zn(%) Pb(%) Cu(%) Ag (g/t) Au(g/t)
MBRCDD049
MBRCDD049
MBRCDD049
MBRCDD049
MBRCDD049
MBRCDD049
MBRCDD049
MBRCDD049
MBRCDD049
MBRCDD049
MBRCDD049		 357
371
373
374
375
392
393
395
403
404
405		 358
372
374
375
376
393
394
396
404
405
406		 0.63
0.58
1.43
1.75
0.95
1.96
1.87
0.58
2.56
4.09
0.60		 0.31
0.03
0.05
0.10
0.02
0.07
0.08
0.03
1.61
0.99
0.01		 0.09
0.06
0.05
0.29
0.08
0.07
0.05
0.02
0.25
0.39
0.03		 41
8
15
21
10
32
13
17
39
180
3		 0.26
0.09
0.02
0.17
0.05
0.27
0.22
0.24
0.14
0.68
0.06
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050		 388
389
390
394
465
468
469
472
475
476
477
478
479
480
481
482
483
484
485
486
487
488
489
491
494
495
496
497
498
499		 389
390
391
395
466
469
470
473
476
477
478
479
480
481
482
483
484
485
486
487
488
489
490
492
495
496
497
498
499
500		 0.11
0.03
0.02
0.01
0.51
0.91
1.69
6.07
10.75
6.45
8.39
3.55
3.57
2.36
2.96
7.82
2.85
10.60
14.55
10.45
6.72
4.04
1.70
0.76
1.52
1.00
13.70
5.35
3.14
0.87		 1.17
0.27
0.81
0.27
0.01
0.00
0.02
0.03
0.54
0.32
0.58
0.09
0.20
0.04
0.03
0.13
0.05
0.30
0.26
0.37
0.47
0.13
0.09
0.02
0.04
0.01
0.37
0.18
0.04
0.00		 2.67
0.58
0.04
0.54
0.02
0.02
0.07
0.15
0.27
0.20
0.27
0.11
0.12
0.09
0.11
0.26
0.12
0.36
0.45
0.34
0.23
0.12
0.05
0.05
0.20
0.07
0.72
0.37
0.16
0.04		 13
3
11
2
6
9
14
39
142
74
110
26
28
16
18
45
18
115
81
71
62
22
12
4
8
5
372
225
113
4		 -0.01
0.04
0.02
0.01
0.04
0.04
0.08
0.07
1.16
0.19
0.61
0.23
0.85
0.1
0.27
0.41
0.34
1.01
0.47
0.48
0.54
0.24
0.11
0.06
0.18
0.07
1.98
1.17
0.62
0.17

Peel Mining Limited – Quarterly Report December 2015

13

==> picture [156 x 69] intentionally omitted <==

Hole ID From(m) To(m) Zn(%) Pb(%) Cu(%) Ag (g/t) Au(g/t)
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050
MBRCDD050		 500
501
502
503
504
505
506
507
508
509
510
511
512
513
514
517
518
519
520
521
522
524
525
526
567
569
570
571		 501
502
503
504
505
506
507
508
509
510
511
512
513
514
515
518
519
520
521
522
523
525
526
527
568
570
571
572		 6.04
5.92
2.06
1.73
1.42
3.65
2.91
4.02
4.70
2.48
2.12
1.12
1.12
2.36
1.80
0.60
0.78
1.34
2.45
5.56
2.12
1.30
0.77
1.24
0.66
0.53
0.69
0.93		 0.05
0.01
0.00
0.06
0.09
0.01
0.03
0.01
0.01
0.00
0.00
0.01
0.09
0.22
0.12
0.05
0.14
0.01
0.06
1.05
0.40
0.01
0.04
0.01
0.01
0.00
0.00
0.00		 0.22
0.20
0.06
0.07
0.11
0.16
0.06
0.04
0.03
0.02
0.01
0.01
0.02
0.05
0.04
0.01
0.02
0.03
0.04
0.09
0.16
0.02
0.01
0.05
0.05
0.08
0.12
0.05		 191
95
17
22
46
162
23
15
8
5
8
3
33
48
22
4
10
15
23
71
33
5
5
46
10
7
9
11		 1.19
0.57
0.18
0.12
0.25
0.81
0.19
0.36
0.11
0.12
0.08
0.05
0.11
0.11
0.12
0.05
0.02
0.03
0.08
0.18
0.08
0.21
0.19
0.2
-0.01
-0.01
-0.01
-0.01
MBRCDD050W1
MBRCDD050W1
MBRCDD050W1
MBRCDD050W1
MBRCDD050W1
MBRCDD050W1
MBRCDD050W1
MBRCDD050W1
MBRCDD050W1
MBRCDD050W1
MBRCDD050W1
MBRCDD050W1
MBRCDD050W1
MBRCDD050W1
MBRCDD050W1
MBRCDD050W1
MBRCDD050W1
MBRCDD050W1
MBRCDD050W1
MBRCDD050W1
MBRCDD050W1
MBRCDD050W1
MBRCDD050W1		 407
408
409
410
411
412
413
414
415
416
417
418
419
424
436
438
439
468
469
471
472
474
476		 408
409
410
411
412
413
414
415
416
417
418
419
420
425
437
439
440
469
470
472
473
475
477		 0.58
0.69
0.87
0.64
0.51
0.55
1.87
0.90
1.47
1.00
0.70
1.05
0.32
0.00
0.30
0.02
0.01
0.36
0.78
0.26
0.02
0.08
0.03		 0.08
0.09
0.26
0.26
0.31
0.39
0.20
0.30
0.61
0.57
0.73
0.28
0.32
0.22
0.69
0.06
0.53
0.69
0.43
0.23
0.12
0.66
0.07		 0.07
0.11
0.33
0.66
0.51
0.79
0.42
0.51
1.18
1.22
2.05
0.64
0.36
0.59
1.92
0.91
0.20
0.39
0.97
1.24
0.59
1.25
0.93		 13
17
35
28
19
19
33
31
52
53
59
49
20
1
16
1
9
27
19
7
2
18
3		 0.59
0.63
1.56
1.79
1.11
1.26
0.92
1.08
1.3
2.31
2.61
2.03
0.82
0.01
0.03
0.02
0.22
0.04
0.04
0.02
0.01
0.01
0.01

Peel Mining Limited – Quarterly Report December 2015

14

==> picture [156 x 69] intentionally omitted <==

Hole ID From(m) To(m) Zn(%) Pb(%) Cu(%) Ag (g/t) Au(g/t)
MBRCDD050W1
MBRCDD050W1
MBRCDD050W1		 481
568
569		 482
569
570		 0.41
0.68
0.58		 0.32
0.00
0.01		 0.02
0.02
0.03		 42
11
15		 0.17
-0.01
-0.01
MBRCDD051
MBRCDD051
MBRCDD051
MBRCDD051
MBRCDD051
MBRCDD051
MBRCDD051
MBRCDD051
MBRCDD051
MBRCDD051
MBRCDD051
MBRCDD051
MBRCDD051
MBRCDD051
MBRCDD051
MBRCDD051
MBRCDD051
MBRCDD051
MBRCDD051
MBRCDD051
MBRCDD051
MBRCDD051
MBRCDD051
MBRCDD051
MBRCDD051
MBRCDD051
MBRCDD051
MBRCDD051
MBRCDD051
MBRCDD051
MBRCDD051
MBRCDD051
MBRCDD051		 289
290
291
295
296
297
298
299
308
309
382
385
386
387
388
389
395
396
398
399
400
401
414
444
446
463
464
465
466
483
484
485
486		 290
291
292
296
297
298
299
300
309
310
383
386
387
388
389
390
396
397
399
400
401
402
415
445
447
464
465
466
467
484
485
486
487		 0.01
0.01
0.01
0.01
0.04
0.04
0.03
0.01
0.13
0.40
0.04
0.74
1.40
3.41
3.64
1.32
0.73
0.55
0.81
0.98
2.31
0.62
1.92
0.79
1.58
0.62
1.53
3.05
2.29
1.78
2.84
4.23
1.69		 0.38
0.40
0.29
0.36
0.85
0.94
0.86
0.39
0.18
0.77
0.24
0.37
0.47
0.50
0.16
0.03
0.09
0.04
0.12
0.07
0.25
0.05
0.01
0.00
0.02
0.36
0.02
0.03
0.01
0.03
0.02
0.03
0.05		 0.61
0.59
0.57
0.84
0.82
0.58
1.41
0.52
1.40
2.42
0.01
0.06
0.06
0.11
0.16
0.04
0.03
0.02
0.03
0.05
0.17
0.03
0.07
0.03
0.03
0.04
0.09
0.04
0.03
0.05
0.05
0.07
0.06		 2
2
2
3
8
9
6
2
5
19
7
59
63
93
63
19
15
9
17
17
46
11
26
8
17
13
31
9
18
8
22
58
50		 0.04
0.03
0.03
0.01
0.07
0.08
0.05
0.01
0.11
1.15
1
1.11
0.61
1.16
0.65
0.08
0.07
0.05
0.07
0.05
0.34
0.01
1.64
0.05
0.11
0.03
0.13
0.06
0.15
1.61
0.45
0.89
0.13
MBRC052
MBRC052
MBRC052
MBRC052
MBRC052
MBRC052
MBRC052
MBRC052
MBRC052
MBRC052
MBRC052
MBRC052
MBRC052
MBRC052
MBRC052		 146
147
148
149
151
152
153
154
155
156
158
166
167
168
169		 147
148
149
150
152
153
154
155
156
157
159
167
168
169
170		 0.02
0.03
0.03
0.06
0.04
0.06
0.06
0.04
0.05
0.05
0.07
0.02
0.03
0.07
0.02		 0.71
0.80
1.27
1.76
1.24
1.04
0.99
1.27
0.87
1.67
1.73
0.79
1.39
3.03
1.43		 1.61
1.85
2.60
0.59
2.24
0.33
0.51
0.39
0.11
0.15
0.13
0.14
0.23
0.06
0.03		 12
9
12
14
9
7
7
9
7
13
15
-1
-1
21
8		 0.1
0.19
0.16
0.03
0.02
0.01
0.01
0.01
0.01
0.01
0.01
NA
0.03
0.01

Peel Mining Limited – Quarterly Report December 2015

15

==> picture [156 x 69] intentionally omitted <==

Hole ID From(m) To(m) Zn(%) Pb(%) Cu(%) Ag (g/t) Au(g/t)
MBRC052
MBRC052
MBRC052
MBRC052
MBRC052
MBRC052
MBRC052
MBRC052
MBRC052
MBRC052
MBRC052
MBRC052
MBRC052
MBRC052
MBRC052		 170
171
172
173
174
176
177
178
197
198
199
200
201
203
228		 171
172
173
174
175
177
178
179
198
199
200
201
202
204
229		 0.02
0.02
0.08
0.04
0.07
0.04
0.02
0.02
1.03
2.43
2.07
0.59
0.17
0.08
1.39		 1.59
1.01
4.30
1.58
1.91
1.44
0.88
0.79
0.46
3.39
4.96
1.29
0.44
0.16
0.53		 2.04
1.09
2.13
0.60
0.70
0.22
0.10
0.10
0.65
3.13
9.50
3.54
0.96
1.13
0.49
7

6

18

10

11

8

-1

-1

33

178

188

47

9

-1

23
0.02

0.02

0.04

0.01

0.01

0.01

NA

NA

0.15

0.25

0.34

0.11

NA

NA

NA
MBDD026W1
MBDD026W1
MBDD026W1
MBDD026W1
MBDD026W1		 421
422
423
556
558		 422
423
424
557
559		 0.11
1.37
3.29
1.62
0.61		 0.03
0.11
0.16
0.07
0.01		 0.02
0.03
0.06
0.04
0.06
4

26

66

19

7
0.63

0.36

0.88

0.04

0.02

Wirlong & Red Shaft RC/Diamond Drilling Significant Assay Results (1m intervals)

Hole ID From(m) To(m) Zn(%) Pb(%) Cu(%) Ag (g/t) Au(g/t)
RSRC003
RSRC003
RSRC003
RSRC003		 61
62
63
64		 62
63
64
65		 0.05
0.08
0.11
0.09		 0.23
0.37
0.45
0.33		 0.01
0.00
0.01
0.01		 2
3
4
4		 2.45
2.84
1.29
0.95
RSRC004 54 55 0.09 0.57 0.10 -1 NA
RSRC005 17 18 0.06 0.52 0.04 -1 NA
RSRC007
RSRC007
RSRC007		 64
65
66		 65
66
67		 0.78
0.98
1.38		 0.05
0.03
0.02		 0.19
0.09
0.02		 1
0
0		 0.01
0.02
-0.01
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001		 162
202
430
431
434
435
438
444
450
452
453
457
458
459
461
462
463
465		 163
203
431
432
435
436
439
445
451
453
454
458
459
460
462
463
464
466		 0.01
0.62
1.19
2.94
1.82
0.79
0.61
1.20
1.28
0.73
1.93
3.37
4.83
0.89
0.83
0.98
1.24
1.64		 0.27
0.00
0.00
0.02
0.00
0.00
0.00
0.01
0.00
0.00
0.00
0.01
0.01
0.00
0.00
0.01
0.00
0.00		 0.01
0.02
0.01
0.04
0.02
0.01
0.01
0.04
0.02
0.01
0.02
0.02
0.02
0.01
0.01
0.01
0.02
0.02		 56
-1
4
12
7
3
2
5
4
3
7
12
15
3
3
4
4
5		 NA
NA
0.06
0.06
0.02
0.01
-0.01
0.01
-0.01
-0.01
0.02
-0.01
0.02
0.04
-0.01
0.34
0.04
-0.01

Peel Mining Limited – Quarterly Report December 2015

16

==> picture [156 x 69] intentionally omitted <==

Hole ID From(m) To(m) Zn(%) Pb(%) Cu(%) Ag (g/t) Au(g/t)
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001
WLDD001		 466
470
473
474
475
476
478
479
480
481
483
484
485
487
500
569
585
589
616
617
618
619
619.68
620
621
622
622.5
640
643
644
645
646
706
714
715
727		 467
471
474
475
476
477
479
480
481
482
484
485
486
488
501
570
586
590
617
618
619
619.68
620
621
622
622.5
623
641
644
645
646
647
707
715
716
728		 1.11
0.61
0.84
2.59
5.02
2.36
0.77
0.67
1.03
1.27
5.42
0.74
0.71
1.09
1.73
0.04
0.67
0.59
0.61
3.03
1.23
5.13
23.50
19.85
22.90
22.70
2.09
0.69
0.66
1.58
1.73
0.59
0.00
0.02
0.07
0.01		 0.00
0.00
0.00
0.00
0.01
0.01
0.00
0.00
0.00
0.00
0.02
0.00
0.00
0.02
0.01
0.31
0.05
0.01
0.00
0.00
0.00
0.02
0.01
0.02
0.01
0.01
0.00
0.01
0.01
0.01
0.01
0.00
0.17
0.28
0.24
0.06		 0.01
0.01
0.02
0.03
0.08
0.07
0.02
0.02
0.03
0.03
0.09
0.02
0.06
0.04
0.04
1.01
0.18
0.03
0.02
0.04
0.02
0.04
0.16
0.13
0.14
0.21
0.03
0.03
0.03
0.05
0.04
0.03
1.06
0.76
0.96
1.10		 3
2
2
7
14
7
2
2
3
4
16
2
2
4
5
-1
3
3
1
6
3
11
50
42
47
48
5
-1
1
5
5
2
-1
1
1
0		 0.13
0.02
-0.01
0.03
0.1
0.04
-0.01
-0.01
-0.01
0.04
0.08
-0.01
-0.01
0.02
-0.01
NA
0.04
-0.01
-0.01
0.01
-0.01
0.16
0.61
0.58
0.85
0.23
0.05
NA
0.05
0.08
0.06
0.01
NA
-0.01
-0.01
-0.01
WLRC011
WLRC011
WLRC011
WLRC011
WLRC011
WLRC011
WLRC011		 266
267
268
329
334
336
337		 267
268
269
330
335
337
338		 0.97
0.85
0.84
0.02
0.04
0.03
0.05		 0.01
0.00
0.01
0.10
0.26
0.24
0.57		 0.19
0.16
0.12
0.70
0.74
0.63
1.10		 -1
-1
-1
-1
-1
-1
-1		 NA
NA
NA
NA
NA
NA
NA
WLRC012
WLRC012
WLRC012
WLRC012
WLRC012
WLRC012
WLRC012
WLRC012		 27
88
92
117
131
137
138
162		 28
89
93
118
132
138
139
163		 0.10
0.04
0.01
0.02
0.06
0.03
0.01
0.03		 0.60
0.01
0.03
0.02
0.31
0.35
0.51
0.46		 0.07
1.11
0.55
0.51
1.35
0.59
1.09
0.90		 -1
-1
-1
-1
-1
-1
-1
-1		 NA
NA
NA
NA
NA
NA
NA
NA

Peel Mining Limited – Quarterly Report December 2015

17

==> picture [156 x 69] intentionally omitted <==

Hole ID From(m) To(m) Zn(%) Pb(%) Cu(%) Ag (g/t) Au(g/t)
WLRC012 239 240 0.01 0.01 0.62 -1 NA
WLRC013
WLRC013
WLRC013		 122
124
125		 123
125
126		 0.08
0.11
0.13		 0.63
0.21
0.54		 0.77
0.86
4.01		 11
3
5		 NA
0.01
-0.01
WLRC014 247 248 0.04 0.08 0.70 -1 NA
WLRC016
WLRC016
WLRC016
WLRC016
WLRC016
WLRC016
WLRC016
WLRC016
WLRC016
WLRC016
WLRC016
WLRC016		 68
74
76
77
80
82
83
84
85
86
87
88		 69
75
77
78
81
83
84
85
86
87
88
89		 0.01
0.03
0.01
0.01
0.01
0.00
0.00
0.01
0.00
0.01
0.01
0.01		 0.35
0.24
0.37
0.30
0.42
0.19
0.21
0.87
0.42
1.69
0.43
0.17		 0.63
0.52
0.53
0.74
0.96
0.94
0.61
3.60
4.33
4.14
0.89
0.55		 -1
-1
-1
-1
2
1
1
7
3
7
2
1		 NA
NA
NA
NA
0.77
0.18
0.46
0.91
0.22
0.08
0.81
0.08
WLRC017
WLRC017		 84
85		 85
86		 0.12
0.44		 0.20
0.27		 0.17
0.27		 21
26		 NA
0.07
WLRC019
WLRC019		 10
93		 11
94		 0.01
0.01		 0.65
0.03		 0.09
0.71		 -1
-1		 NA
NA
WLRCDD015
WLRCDD015
WLRCDD015
WLRCDD015
WLRCDD015
WLRCDD015
WLRCDD015
WLRCDD015
WLRCDD015
WLRCDD015
WLRCDD015
WLRCDD015
WLRCDD015
WLRCDD015
WLRCDD015
WLRCDD015
WLRCDD015
WLRCDD015
WLRCDD015
WLRCDD015
WLRCDD015
WLRCDD015
WLRCDD015
WLRCDD015
WLRCDD015
WLRCDD015
WLRCDD015
WLRCDD015
WLRCDD015		 225
282
290
291
323
328
330
332
333
334
339
340
341
342
343
344
345
346
347
348
349
350
351
352
353
402.1
403
406
409		 226
283
291
292
324
329
331
333
334
335
340
341
342
343
344
345
346
347
348
349
350
351
352
353
354
403
404
407
410		 0.61
1.24
0.63
0.76
0.86
0.54
0.50
0.75
1.71
1.05
0.57
1.01
0.61
1.42
2.04
1.41
2.49
0.90
1.72
1.28
0.59
1.13
1.38
0.83
0.77
19.50
1.91
0.90
0.99		 0.00
0.00
0.00
0.00
0.00
0.04
0.00
0.00
0.03
0.01
0.08
0.01
0.02
0.01
0.05
0.03
0.06
0.02
0.03
0.03
0.02
0.03
0.06
0.07
0.05
0.09
0.01
0.01
0.05		 0.02
0.02
0.01
0.01
0.01
0.01
0.02
0.03
0.14
0.04
0.11
0.06
0.03
0.09
0.12
0.07
0.09
0.05
0.09
0.13
0.08
0.16
0.21
0.21
0.30
0.24
0.06
0.09
0.62		 3
5
2
2
2
4
1
2
6
4
6
3
3
5
9
6
12
4
7
5
2
4
6
5
4
58
6
3
4		 0.01
-0.01
-0.01
-0.01
-0.01
-0.01
-0.01
-0.01
-0.01
-0.01
0.01
-0.01
-0.01
-0.01
0.01
-0.01
0.01
0.01
-0.01
-0.01
-0.01
-0.01
0.01
-0.01
-0.01
0.08
-0.01
-0.01
-0.01

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Hole ID From(m) To(m) Zn(%) Pb(%) Cu(%) Ag (g/t) Au(g/t)
WLRCDD015
WLRCDD015
WLRCDD015
WLRCDD015
WLRCDD015
WLRCDD015
WLRCDD015
WLRCDD015
WLRCDD015
WLRCDD015
WLRCDD015
WLRCDD015
WLRCDD015
WLRCDD015
WLRCDD015		 411
417
451
452
453
457
470
475
481
489
514
524
525
527
540		 412
418
452
453
454
458
471
476
482
490
515
525
526
528
541		 0.62
1.93
1.72
3.63
0.98
0.44
0.71
0.66
0.06
0.82
0.01
0.99
2.60
0.66
0.02		 0.00
0.00
0.01
0.03
0.01
0.02
0.00
0.21
0.17
0.00
0.09
0.08
0.08
0.05
0.37		 0.02
0.03
0.06
0.13
0.03
0.59
0.05
0.37
0.73
0.02
0.74
0.34
2.92
1.35
0.77		 1
4
4
10
3
2
2
6
2
3
1
8
18
7
7		 -0.01
-0.01
-0.01
0.01
0.01
-0.01
-0.01
-0.01
0.02
0.01
-0.01
0.03
0.04
0.05
-0.01

Apollo Hill Historic Drill Core Sampling Significant Assay Results (1m intervals)

Hole ID From(m) To(m) Au(g/t)
AAHD0002 223 224 0.65
AAHD0003
AAHD0003
AAHD0003		 102
104
105		 103
105
106		 0.89
0.64
6.18
AAHD0004 165 166 6.74
AAHD0010
AAHD0010
AAHD0010
AAHD0010		 190
200
222
225		 191
201
223
226		 0.85
1.04
0.50
2.91
AAHD0011 187 188 0.56
AAHD0014
AAHD0014
AAHD0014		 148
149
169		 149
150
170		 1.54
0.82
1.23
AAHD0018 176 177 0.79
AAHD0020
AAHD0020
AAHD0020		 398
400
417		 399
401
418		 1.71
2.59
3.60
AAHD0022 390 391 2.39

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Table 1 - Section 1: Sampling Techniques and Data for Mallee Bull/Cobar Superbasin Project

Criteria JORC Code explanation Commentary
Sampling
techniques		 Nature and quality of sampling (eg cut channels,
random chips, or specific specialised industry
standard measurement tools appropriate to the
minerals under investigation, such as down hole
gamma sondes, or handheld XRF instruments, etc).
These examples should not be taken as limiting the
broad meaning of sampling.
Include reference to measures taken to ensure
sample
representivity
and
the
appropriate
calibration of any measurement tools or systems
used.
Aspects of the determination of mineralisation that
are Material to the Public Report.
In cases where ‘industry standard’ work has been
done this would be relatively simple (eg ‘reverse
circulation drilling was used to obtain 1 m samples
from which 3 kg was pulverised to produce a 30 g
charge for fire assay’). In other cases more
explanation may be required, such as where there
is coarse gold that has inherent sampling problems.
Unusual commodities or mineralisation types (eg
submarine nodules) may warrant disclosure of
detailed information.		  Diamond, reverse circulation (RC) and
Rotary Air Blast (RAB) drilling were used
to obtain samples for geological logging
and assaying.
 Diamond core was cut and sampled at 1m
intervals. RC and RAB drill holes were
sampled at 1m intervals and split using a
cone splitter attached to the cyclone to
generate a split of 2-4kg to ensure sample
representivity.
 Multi-element readings were taken of the
RC and RAB drill chips using an Olympus
Delta Innov-X portable XRF tool. The
portable XRF was calibrated against
standards after every 30 readings.
Drilling
techniques		 Drill type (eg core, reverse circulation, open-hole
hammer, rotary air blast, auger, Bangka, sonic, etc)
and details (eg core diameter, triple or standard
tube, depth of diamond tails, face-sampling bit or
other type, whether core is oriented and if so, by
what method, etc).		  Drilling to date has been a combination of
diamond, reverse circulation and rotary
air blast. Reverse circulation drilling
utilised a 5 1/2 inch diameter hammer. A
blade bit was predominantly used for RAB
drilling. NQ and HQ coring was used for
diamond drilling.
Drill
sample
recovery		 Method of recording and assessing core and chip
sample recoveries and results assessed.
Measures taken to maximise sample recovery and
ensure representative nature of the samples.
Whether a relationship exists between sample
recovery and grade and whether sample bias may
have occurred due to preferential loss/gain of
fine/coarse material.		  Core recoveries are recorded by the
drillers in the field at the time of drilling
and checked by a geologist or technician
 RC and RAB samples are not weighed on a
regular basis due to the exploration
nature of drilling but no significant sample
recovery issues have been encountered in
a drilling program to date.
 Diamond core is reconstructed into
continuous runs on an angle iron cradle
for orientation marking and depths are
checked against the depths recorded on
core blocks. Rod counts are routinely
undertaken by drillers.
 When
poor
sample
recovery
is
encountered during drilling, the geologist
and driller have endeavoured to rectify
the problem to ensure maximum sample
recovery.
 Sample recoveries to date have generally
been high. Insufficient data is available at
present to determine if a relationship

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Criteria JORC Code explanation Commentary
exists between recovery and grade. This
will be assessed once a statistically valid
amount of data is available to make a
determination.
Logging Whether core and chip samples have been
geologically and geotechnically logged to a level of
detail to support appropriate Mineral Resource
estimation, mining studies and metallurgical
studies.
Whether logging is qualitative or quantitative in
nature.
Core
(or
costean,
channel,
etc)
photography.
The total length and percentage of the relevant
intersections logged.		  All core and drill chip samples are
geologically logged. Core samples are
orientated and logged for geotechnical
information. Drill chip samples are logged
at 1m intervals from surface to the
bottom of each individual hole to a level
that will support appropriate future
Mineral Resource studies.
 Logging of diamond core, RC and RAB
samples records lithology, mineralogy,
mineralisation, structure (DDH only),
weathering, colour and other features of
the samples. Core is photographed as
both wet and dry.
 All diamond, RC and RAB drill holes in the
current program were geologically logged
in full.
Sub-sampling
techniques
and
sample
preparation		 If core, whether cut or sawn and whether quarter,
half or all core taken.
If non-core, whether riffled, tube sampled, rotary
split, etc and whether sampled wet or dry.
For all sample types, the nature, quality and
appropriateness
of
the
sample
preparation
technique.
Quality control procedures adopted for all sub-
sampling stages to maximise representivity of
samples.
Measures taken to ensure that the sampling is
representative of the in situ material collected,
including
for
instance
results
for
field
duplicate/second-half sampling.
Whether sample sizes are appropriate to the grain
size of the material being sampled.		  Drill core was cut with a core saw and half
core taken.
 The RC and RAB drilling rigs were
equipped with an in-built cyclone and
splitting system, which provided one bulk
sample of approximately 20kg and a sub-
sample of 2-4kg per metre drilled.
 All samples were split using the system
described
above
to
maximise
and
maintain consistent representivity. The
majority of samples were dry.
 Bulk samples were placed in green plastic
bags, with the sub-samples collected
placed in calico sample bags
 Field duplicates were collected by re-
splitting the bulk samples from large
plastic bags. These duplicates were
designed for lab checks.
 A sample size of 2-4kg was collected and
considered
appropriate
and
representative for the grain size and style
of mineralisation.
Quality
of
assay
data
and
laboratory
tests		 The nature, quality and appropriateness of the
assaying and laboratory procedures used and
whether the technique is considered partial or
total.
For geophysical tools, spectrometers, handheld XRF
instruments,
etc,
the
parameters
used
in
determining the analysis including instrument
make and model, reading times, calibrations
factors applied and their derivation, etc.
Nature of quality control procedures adopted (eg
standards, blanks, duplicates, external laboratory
checks) and whether acceptable levels of accuracy		  ALS Laboratory (Orange) was used for Au
analysis work carried out on the 1m drill
chip samples. The laboratory techniques
below are for all samples submitted to
ALS and are considered appropriate for
the style of mineralisation defined at
Sandy Creek, Wirlong, Red Shaft and
Burthong:
o
PUL-23 (Sample preparation
code)
o
Au-AA26 Ore Grade Au 50g
FA AA Finish

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Criteria JORC Code explanation Commentary
(ie lack of bias) and precision have been
established.		 o
ME-MS61 48 element four
acid ICP-MS
 Assaying of soil samples in the field was
by portable XRF instrument Olympus
Delta Innov-X Analyser. Reading time was
40 seconds per reading with a total 3
readings per sample.
 The QA/QC data includes standards,
duplicates
and
laboratory
checks.
Duplicates for drill core are collected by
the lab every 30 samples after the core
sample is pulverised. Duplicates for
percussion drilling are collected directly
from the drill rig or the metre sample bag
using a half round section of pipe. In-
house QA/QC tests are conducted by the
lab on each batch of samples with
standards
supplied
by
the
same
companies that supplyour own.
Verification
of
sampling
and assaying		 The verification of significant intersections by either
independent or alternative company personnel.
The use of twinned holes.
Documentation of primary data, data entry
procedures,
data
verification,
data
storage
(physical and electronic) protocols.
Discuss any adjustment to assay data.		  All geological logging and sampling
information is completed in spreadsheets,
which are then transferred to a database
for validation and compilation at the Peel
head office. Electronic copies of all
information are backed up periodically.
 No adjustments of assay data are
considered necessary.
Location
of
data points		 Accuracy and quality of surveys used to locate drill
holes (collar and down-hole surveys), trenches,
mine workings and other locations used in Mineral
Resource estimation.
Specification of the grid system used.
Quality and adequacy of topographic control.		  A Garmin hand-held GPS is used to define
the location of the samples. Standard
practice is for the GPS to be left at the site
of the collar for a period of 10 minutes to
obtain a steady reading. Collars are picked
up after by DGPS. Down-hole surveys are
conducted by the drill contractors using
predominantly a Reflex gyroscopic tool
with readings every 10m after drill hole
completion.
On
occasion
a
Reflex
electronic multi-shot camera will be used
with readings for dip and magnetic
azimuth taken every 30m down-hole.
QA/QC in the field involves calibration
using a test stand. The instrument is
positioned with a stainless steel drill rod
so as not to affect the magnetic azimuth.
 Grid system used is MGA 94 (Zone 55). All
down-hole
magnetic
surveys
were
converted to MGA94grid.
Data spacing
and
distribution		 Data spacing for reporting of Exploration Results.
Whether the data spacing and distribution is
sufficient to establish the degree of geological and
grade continuity appropriate for the Mineral
Resource and Ore Reserve estimation procedure(s)
and classifications applied.
Whether sample compositing has been applied.		  Data/drill hole spacing is variable and
appropriate to the geology and historical
drilling.
 6m sample compositing has been applied
to RC and RAB drilling at Sandy Creek,
Wirlong, Red Shaft and Burthong for gold
and multi-element assay.
Orientation Whether the orientation of sampling achieves  Most drillholes areplanned to intersect

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Criteria JORC Code explanation Commentary
of
data
in
relation
to
geological
structure		 unbiased sampling of possible structures and the
extent to which this is known, considering the
deposit type.
If the relationship between the drilling orientation
and the orientation of key mineralised structures is
considered to have introduced a sampling bias, this
should be assessed and reported if material.		 the
interpreted
mineralised
structures/lodes
as
near
to
a
perpendicular angle as possible (subject to
access to the preferred collar position).
Sample
security		 The measures taken to ensure sample security.  The chain of custody is managed by the
project geologist who places calico sample
bags in polyweave sacks. Up to 5 calico
sample bags are placed in each sack. Each
sack is clearly labelled with:
o
Peel Mining Ltd
o
Address of Laboratory
o
Sample range
 Detailed records are kept of all samples
that are dispatched, including details of
chain of custody.
Audits
or
reviews		 The results of any audits or reviews of sampling
techniques and data.		  Data is validated when loading into the
database. No formal external audit has
been conducted.

Table 1 - Section 2 - Reporting of Exploration Results for Mallee Bull/Cobar Superbasin Project

Criteria JORC Code explanation Commentary
Mineral
tenement and
land
tenure
status		 Type, reference name/number, location and
ownership including agreements or material issues
with third parties such as joint ventures,
partnerships, overriding royalties, native title
interests, historical sites, wilderness or national
park and environmental settings.
The security of the tenure held at the time of
reporting along with any known impediments to
obtaining a licence to operate in the area.		  The Mallee Bull prospect is wholly located
within
Exploration
Licence
EL7461
“Gilgunnia”. The tenement is subject to a
50:50 Joint Venture with CBH Resources
Ltd, a wholly owned subsidiary of Toho
Zinc Co Ltd.
 The following tenements of the Cobar
Superbasin Project reported on in the
December 2015 quarter are subject to a
Farm-in agreement with Japan Oil, Gas
and
Metals
National
Corporation
(JOGMEC):
o
EL8307 "Sandy Creek"
o
EL8314 "Glenwood"
o
EL8113 "Iris Vale"
 The tenements are in good standing and
no known impediments exist.
Exploration
done by other
parties		 Acknowledgment and appraisal of exploration by
other parties.		  Work was completed in the area by
former
tenement
holders
Triako
Resources between 2003 and 2009; it
included diamond drilling, IP surveys,
geological mapping and reconnaissance
geochemical sampling around the historic
Four Mile Goldfield area. Prior to Triako
Resources, Pasminco Exploration explored
the Cobar Basin area for a “Cobar-type” or
“Elura-type” zinc-lead-silver or copper-
gold-lead-zinc deposit.
Geology Deposit type, geological setting and style of  Theprospect area lies within the Cobar-

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Criteria JORC Code explanation Commentary
mineralisation. Mt Hope Siluro-Devonian sedimentary
and volcanic units. The northern Cobar
region
consists
of
predominantly
sedimentary
units
with
tuffaceous
member, whilst the southern Mt Hope
region consists of predominantly felsic
volcanic rocks; the Mallee Bull prospect
seems to be located in an area of overlap
between
these
two
regions.
Mineralization
at
the
Mallee
Bull
discovery
features
the
Cobar-style
attributes of short strike lengths (<200m),
narrow widths (5-20m) and vertical
continuity, and occurs as a shoot-like
structure dippingmoderatelyto the west.
Drill
hole
Information		 A summary of all information material to the
understanding of the exploration results including
a tabulation of the following information for all
Material drill holes:
o easting and northing of the drill hole collar
o elevation or RL (Reduced Level – elevation
above sea level in metres) of the drill hole collar
o dip and azimuth of the hole
o down hole length and interception depth
o hole length.
If the exclusion of this information is justified on
the basis that the information is not Material and
this exclusion does not detract from the
understanding of the report, the Competent Person
should clearly explain why this is the case.		  All relevant information material to the
understanding of exploration results has
been included within the body of the
announcement or as appendices.
 No information has been excluded.
Data
aggregation
methods		 In
reporting
Exploration
Results,
weighting
averaging techniques, maximum and/or minimum
grade truncations (eg cutting of high grades) and
cut-off grades are usually Material and should be
stated.
Where aggregate intercepts incorporate short
lengths of high grade results and longer lengths of
low grade results, the procedure used for such
aggregation should be stated and some typical
examples of such aggregations should be shown in
detail.
The assumptions used for any reporting of metal
equivalent values should be clearly stated.		  No length weighting or top-cuts have
been applied.
 No metal equivalent values are used for
reporting exploration results.
Relationship
between
mineralisation
widths
and
intercept
lengths		 These relationships are particularly important in
the reporting of Exploration Results.
If the geometry of the mineralisation with respect
to the drill hole angle is known, its nature should
be reported.
If it is not known and only the down hole lengths
are reported, there should be a clear statement to
this effect (eg ‘down hole length, true width not
_known’). _
True widths are generally estimated to be
about 60% of the downhole width.
Diagrams Appropriate maps and sections (with scales) and
tabulations of intercepts should be included for any
significant discovery being reported These should		  Refer to Figures in the body of text.

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Criteria JORC Code explanation Commentary
include, but not be limited to a plan view of drill
hole collar locations and appropriate sectional
views.
Balanced
reporting		 Where comprehensive reporting of all Exploration
Results is not practicable, representative reporting
of both low and high grades and/or widths should
be practiced to avoid misleading reporting of
Exploration Results.		  All results are reported.
Other
substantive
exploration
data		 Other exploration data, if meaningful and
material, should be reported including (but not
limited to): geological observations; geophysical
survey results; geochemical survey results; bulk
samples – size and method of treatment;
metallurgical
test
results;
bulk
density,
groundwater,
geotechnical
and
rock
characteristics;
potential
deleterious
or
contaminating substances.		  No other substantive exploration data are
available.
Further work The nature and scale of planned further work (eg
tests for lateral extensions or depth extensions or
large-scale step-out drilling).
Diagrams clearly highlighting the areas of possible
extensions,
including
the
main
geological
interpretations and future drilling areas, provided
this information is not commercially sensitive.		  Future work at Mallee Bull will include
diamond and RC drilling to further define
the extent of mineralization at the
prospect. Down hole electromagnetic
(DHEM) surveys will be used to identify
potential conductive sources that may be
related to mineralization.
 Future work within the Cobar Superbasin
tenements
will
involve
geophysical
surveying, geochemical sampling and
RC/diamond drilling to target existing
anomalies.

Table 1 - Section 1: Sampling Techniques and Data for Apollo Hill

Criteria JORC Code explanation Commentary
Sampling
techniques		 Nature and quality of sampling (eg cut channels,
random chips, or specific specialised industry
standard measurement tools appropriate to the
minerals under investigation, such as down hole
gamma sondes, or handheld XRF instruments, etc).
These examples should not be taken as limiting the
broad meaning of sampling.
Include reference to measures taken to ensure
sample
representivity
and
the
appropriate
calibration of any measurement tools or systems
used.
Aspects of the determination of mineralisation that
are Material to the Public Report.
In cases where ‘industry standard’ work has been
done this would be relatively simple (eg ‘reverse
circulation drilling was used to obtain 1 m samples
from which 3 kg was pulverised to produce a 30 g
charge for fire assay’). In other cases more
explanation may be required, such as where there
is coarse gold that has inherent sampling problems.
Unusual commodities or mineralisation types (eg
submarine nodules) may warrant disclosure of		  Soil samples were taken by scraping off
organic material and digging down about
10cm into the soils.
 Soil Auger samples were taken from the
end of hole auger spoils

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Criteria JORC Code explanation Commentary
detailed information.
Drilling
techniques		 Drill type (eg core, reverse circulation, open-hole
hammer, rotary air blast, auger, Bangka, sonic, etc)
and details (eg core diameter, triple or standard
tube, depth of diamond tails, face-sampling bit or
other type, whether core is oriented and if so, by
_what method, etc). _		  No
drilling
was
completed
in
the
December quarter.
Drill
sample
recovery		 Method of recording and assessing core and chip
sample recoveries and results assessed.
Measures taken to maximise sample recovery and
ensure representative nature of the samples.
Whether a relationship exists between sample
recovery and grade and whether sample bias may
have occurred due to preferential loss/gain of
fine/coarse material.		  No significant sample recovery issues have
been encountered to date.
 When
poor
sample
recovery
is
encountered, the geologist and driller
have endeavoured to rectify the problem
to ensure maximum sample recovery.
 Sample recoveries to date have generally
been high. Insufficient data is available at
present to determine if a relationship
exists between recovery and grade. This
will be assessed once a statistically valid
amount of data is available to make a
determination.
Logging Whether core and chip samples have been
geologically and geotechnically logged to a level of
detail to support appropriate Mineral Resource
estimation, mining studies and metallurgical
studies.
Whether logging is qualitative or quantitative in
nature.
Core
(or
costean,
channel,
etc)
photography.
The total length and percentage of the relevant
intersections logged.		  All end of hole soil auger samples were
examined by a geologist
Sub-sampling
techniques
and
sample
preparation		 If core, whether cut or sawn and whether quarter,
half or all core taken.
If non-core, whether riffled, tube sampled, rotary
split, etc and whether sampled wet or dry.
For all sample types, the nature, quality and
appropriateness
of
the
sample
preparation
technique.
Quality control procedures adopted for all sub-
sampling stages to maximise representivity of
samples.
Measures taken to ensure that the sampling is
representative of the in situ material collected,
including
for
instance
results
for
field
duplicate/second-half sampling.
Whether sample sizes are appropriate to the grain
size of the material being sampled.		  All samples dried and reconciled against
company submission.
Quality
of
assay
data
and
laboratory
tests		 The nature, quality and appropriateness of the
assaying and laboratory procedures used and
whether the technique is considered partial or
total.
For geophysical tools, spectrometers, handheld XRF
instruments,
etc,
the
parameters
used
in
determining the analysis including instrument
make and model, reading times, calibrations
factors applied and their derivation, etc.		  Intertek Genalysis (Perth) was used for Au
analysis work carried out on the samples.
The laboratory technique below is for all
samples submitted to Intertek and is
considered appropriate for the style of
mineralisation defined at Apollo Hill
o
FA50/OE
50g
Lead
collection
fire
assay.
Analysed
by
Inductively

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Criteria JORC Code explanation Commentary
Nature of quality control procedures adopted (eg
standards, blanks, duplicates, external laboratory
checks) and whether acceptable levels of accuracy
(ie lack of bias) and precision have been
established.		 Coupled
Plasma
Optical
(Atomic)
Emission
Spectrometry.
 The QA/QC data includes standards,
duplicates and laboratory checks. In-
house QA/QC tests are conducted by the
lab on each batch of samples with
standards
supplied
by
the
same
companies that supplyour own.
Verification
of
sampling
and assaying		 The verification of significant intersections by either
independent or alternative company personnel.
The use of twinned holes.
Documentation of primary data, data entry
procedures,
data
verification,
data
storage
(physical and electronic) protocols.
Discuss any adjustment to assay data.		  All geological logging and sampling
information is completed in spreadsheets,
which are then transferred to a database
for validation and compilation at the Peel
head office. Electronic copies of all
information are backed up periodically.
 No adjustments of assay data are
considered necessary.
Location
of
data points		 Accuracy and quality of surveys used to locate drill
holes (collar and down-hole surveys), trenches,
mine workings and other locations used in Mineral
Resource estimation.
Specification of the grid system used.
Quality and adequacy of topographic control.		  A Garmin hand-held GPS is used to define
the location of the samples. Standard
practice is for the GPS to be left at the site
of the collar for a period of 10 minutes to
obtain a steady reading. Collars are picked
up after by DGPS.
 Grid system used is MGA94(Zone 51).
Data spacing
and
distribution		 Data spacing for reporting of Exploration Results.
Whether the data spacing and distribution is
sufficient to establish the degree of geological and
grade continuity appropriate for the Mineral
Resource and Ore Reserve estimation procedure(s)
and classifications applied.
Whether sample compositing has been applied.		  Sample
spacing
is
variable
and
appropriate to the geology. Soil samples
were taken on a 20m grid. Soil Auger
samples were taken at 40-50m spacing at
Stockdale and 40m spacing at Mud Hut.
 No sample compositing has been applied.
Orientation
of
data
in
relation
to
geological
structure		 Whether the orientation of sampling achieves
unbiased sampling of possible structures and the
extent to which this is known, considering the
deposit type.
If the relationship between the drilling orientation
and the orientation of key mineralised structures is
considered to have introduced a sampling bias, this
should be assessed and reported if material.		  Sampling orientation was appropriate for
the early stage of exploration.
Sample
security		 The measures taken to ensure sample security.  The chain of custody is managed by the
project geologist who places calico sample
bags in polyweave sacks. Up to 5 calico
sample bags are placed in each sack. Each
sack is clearly labelled with:
o
Peel Mining Ltd
o
Address of Laboratory
o
Sample range
 Detailed records are kept of all samples
that are dispatched, including details of
chain of custody.
Audits
or
reviews		 The results of any audits or reviews of sampling
techniques and data.		  Data is validated when loading into the
database. No formal external audit has
been conducted.

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Table 1 - Section 2 - Reporting of Exploration Results for Apollo Hill

Criteria JORC Code explanation Commentary
Mineral
tenement and
land
tenure
status		 Type, reference name/number, location and
ownership including agreements or material issues
with third parties such as joint ventures,
partnerships, overriding royalties, native title
interests, historical sites, wilderness or national
park and environmental settings.
The security of the tenure held at the time of
reporting along with any known impediments to
obtaining a licence to operate in the area.		  The 100% Peel owned Apollo Hill project
is located 60km southeast of Leonora WA,
within a package of Exploration and
Prospecting
Licences
(see
Tenement
Information Table) and Mining Leases
M39/296 and M31/486.
 The tenements are in good standing and
no known impediments exist.
Exploration
done by other
parties		 Acknowledgment and appraisal of exploration by
other parties.		  The
main
Apollo
Hill
deposit
was
discovered in 1986 by Fimiston Mining Ltd
during a drill program aimed at finding the
source of abundant eluvial gold at the
base of a prominent hill in the area. Active
drilling by Fimiston, Battle Mountain
(Australia)
Ltd,
Homestake
Gold
of
Australia Ltd, Mining Project Investors Pty
Ltd and Hampton Hill Mining NL since
then
has
outlined
extensive
gold
mineralisation and alteration over a 1km
strike length.
Geology Deposit type, geological setting and style of
mineralisation.		  The project is located in the Archean aged
Norseman-Wiluna Belt, Eastern Goldfields
Province of the Yilgarn Craton. The
deposit occurs in a mineralised structure
associated with the 1km wide Apollo
Shear Zone, a component of the Keith-
Kilkenny Fault system. Strongly deformed
felsic volcanoclastic rocks lie to the west
of the Apollo shear, with relatively
undeformed pillow basalt and dolerite to
the
east.
Zones
of
mylonitisation,
shearing,
brecciation
and
fracturing
caused by the shear is present along the
contact,
and
resulting
open
space
structures are favourable for trapping ore
fluids and forming ore deposits. Multiple
gold mineralisation events are interpreted
to have occurred at Apollo Hill during a
complex
deformational
history.
Gold
mineralisation is accompanied by quartz
veins and carbonate-pyrite alteration
associated with a mafic-felsic contact.
Drill
hole
Information		 A summary of all information material to the
understanding of the exploration results including
a tabulation of the following information for all
Material drill holes:
o easting and northing of the drill hole collar
o elevation or RL (Reduced Level – elevation
above sea level in metres) of the drill hole collar
o dip and azimuth of the hole
o down hole length and interception depth		  All relevant information material to the
understanding of exploration results has
been included within the body of the
announcement or as appendices.
 No information has been excluded.

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Criteria JORC Code explanation Commentary
o hole length.
If the exclusion of this information is justified on
the basis that the information is not Material and
this exclusion does not detract from the
understanding of the report, the Competent Person
should clearly explain why this is the case.
Data
aggregation
methods		 In
reporting
Exploration
Results,
weighting
averaging techniques, maximum and/or minimum
grade truncations (eg cutting of high grades) and
cut-off grades are usually Material and should be
stated.
Where aggregate intercepts incorporate short
lengths of high grade results and longer lengths of
low grade results, the procedure used for such
aggregation should be stated and some typical
examples of such aggregations should be shown in
detail.
The assumptions used for any reporting of metal
equivalent values should be clearly stated.		  No length weighting or top-cuts have
been applied.
 No metal equivalent values are used for
reporting exploration results.
Relationship
between
mineralisation
widths
and
intercept
lengths		 These relationships are particularly important in
the reporting of Exploration Results.
If the geometry of the mineralisation with respect
to the drill hole angle is known, its nature should
be reported.
If it is not known and only the down hole lengths
are reported, there should be a clear statement to
this effect (eg ‘down hole length, true width not
_known’). _
True widths are generally estimated to be
about 60% of the down-hole width.
Diagrams Appropriate maps and sections (with scales) and
tabulations of intercepts should be included for any
significant discovery being reported These should
include, but not be limited to a plan view of drill
hole collar locations and appropriate sectional
views.		  Refer to Figures in the body of text.
Balanced
reporting		 Where comprehensive reporting of all Exploration
Results is not practicable, representative reporting
of both low and high grades and/or widths should
be practiced to avoid misleading reporting of
Exploration Results.		  All results are reported.
Other
substantive
exploration
data		 Other exploration data, if meaningful and
material, should be reported including (but not
limited to): geological observations; geophysical
survey results; geochemical survey results; bulk
samples – size and method of treatment;
metallurgical
test
results;
bulk
density,
groundwater,
geotechnical
and
rock
characteristics;
potential
deleterious
or
contaminating substances.		  No other substantive exploration data are
available.
Further work The nature and scale of planned further work (eg
tests for lateral extensions or depth extensions or
large-scale step-out drilling).
Diagrams clearly highlighting the areas of possible
extensions,
including
the
main
geological
interpretations and future drilling areas, provided
this information is not commercially sensitive.		  Future work at Apollo Hill will include RC
and
diamond
drilling
and
further
geochemical sampling.

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TENEMENT INFORMATION AS REQUIRED BY LISTING RULE 5.3.3 Granted tenements

TENEMENT PROJECT LOCATION OWNERSHIP CHANGE IN
QUARTER
E39/1198 Apollo Hill Leonora,WA 100%
E39/1236 Apollo Hill Leonora,WA 100%
P31/1797 Apollo Hill Leonora,WA 100%
P39/4586 Apollo Hill Leonora,WA 100%
P39/4587 Apollo Hill Leonora,WA 100%
P39/4588 Apollo Hill Leonora,WA 100%
P39/4589 Apollo Hill Leonora,WA 100%
P39/4590 Apollo Hill Leonora,WA 100%
P39/4591 Apollo Hill Leonora,WA 100%
P39/4592 Apollo Hill Leonora,WA 100%
P39/4677 Apollo Hill Leonora,WA 100%
P39/4678 Apollo Hill Leonora,WA 100%
P39/4679 Apollo Hill Leonora,WA 100%
P39/4789 Apollo Hill Leonora,WA 100%
E40/0296 27 Well Leonora,WA 100%
E40/0303 Bulyairdie Leonora,WA 100%
M39/0296 Isis Leonora,WA 100%
E40/0337 The Gap Leonora,WA 100%
E31/1063 Apollo Hill South Leonora,WA 100%
E31/1075 Yerilla Leonora,WA 100%
E31/1076 Mt Remarkable Leonora,WA 100%
M31/486 Apollo Hill ML Leonora, WA 100%
E31/1087 Rise Again Leonora, WA 100%
P31/2071 Rise Again Leonora, WA 100%
P31/2069 Rise Again Leonora, WA 100%
P31/2072 Rise Again Leonora, WA 100%
P31/2073 Rise Again Leonora, WA 100%
P31/2068 Rise Again Leonora, WA 100%
P31/2070 Rise Again Leonora, WA 100%
EL8326 Attunga Attunga,NSW 100%
ML1361 Mayday Cobar,NSW 50%
EL7461 Gilgunnia Cobar,NSW 50%
EL7711 RubySilver Armidale,NSW 100%
EL7519 Gilgunnia South Cobar,NSW 100%
EL7976 Mundoe Cobar,NSW 100%
EL8070 Tara Cobar,NSW 100%
EL8071 Manuka Cobar,NSW 100%
EL8105 Mirrabooka Cobar,NSW 100%
EL8112 Yackerboon Cobar,NSW 100%
EL8113 Iris Vale Cobar,NSW 100%
EL8125 Hillview Nth Cobar,NSW 100%
EL8126 Norma Vale Cobar,NSW 100%
EL8201 Mundoe North Cobar,NSW 100%
EL8114 Yara Cobar,NSW 100%
EL8115 Burthong Cobar,NSW 100%
EL8117 Illewong Cobar,NSW 100%
EL8307 SandyCreek Cobar,NSW 100%
EL8216 Orana Ivanhoe,NSW 100%
EL8247 Gulf Creek Barraba,NSW 100%

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EL8314 Glenwood Cobar,NSW 100%
EL8336 Brambah Cobar,NSW 100%
EL8345 Pine Ridge Cobar,NSW 100%
EL8391 Gilgunnia North Cobar,NSW 100% Granted
EL8414 Mt Walton Cobar,NSW 100% Granted

Tenements under application

TENEMENT PROJECT LOCATION STATUS
E31/1116 Apollo Hill Leonora,WA Under application
E39/1887 Apollo Hill Leonora,WA Under application
ELA5206 Beanbah Cobar,NSW Under application
ELA5204 Michelago Cooma,NSW Under application
ELA5229 Marigold Cobar,NSW Under application

Peel Mining Limited – Quarterly Report December 2015

31

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