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Peel Mining Fast-Tracks Drilling at New Thunderstruck Prospect in Cobar Basin

Tipranks - Tipranks - Tue Apr 21, 6:34PM CDT

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Peel Mining Limited ( (AU:PEX) ) has provided an update.

Peel Mining Limited has secured Exploration Licence EL9887 over the newly identified Thunderstruck prospect in the Cobar Basin, a target characterised by a strong pipe-like magnetic anomaly and favourable host geology near major regional faults. With a land access agreement now in place, the company plans to fast-track drilling in the coming weeks to test an intense pathfinder geochemical plume and assess Thunderstruck’s potential as a new addition to its Cobar portfolio.

Management describes Thunderstruck as a high-priority exploration opportunity that aligns with Peel’s established strengths in the basin, underscoring the broader prospectivity of the region. The rapid progression from licence grant to planned drilling signals an aggressive exploration strategy that could, if successful, enhance Peel’s project pipeline and support its long-term growth options in base metal exploration.

The most recent analyst rating on (AU:PEX) stock is a Hold with a A$0.20 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

Peel Mining Limited is an Australian mineral exploration company focused on base and precious metals, primarily operating in the Cobar Basin of New South Wales. The company has built a portfolio of discoveries in this region and seeks to leverage its exploration expertise and geophysical-geochemical targeting to expand its resource base and strengthen its position in the Cobar mining district.

Average Trading Volume: 2,131,087

Technical Sentiment Signal: Buy

Current Market Cap: A$129.5M

For an in-depth examination of PEX stock, go to TipRanks’ Overview page.

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