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Pegmont Mining Limited - NSX:PMI

Description

Pegmont Mines Limited has acquired mining leases and exploration interests in the Mount Isa/Cloncurry mineral province since 1996. It is managed by a Board of three directors with extensive experience in the mining industry. The Company has access to the services of senior consultants with extensive experience in the Mount Isa region.

At Pegmont, about 160km south of Cloncurry, near to rich Cannington silver-lead-zinc mine, mining leases cover a lead-zinc deposit with an indicated and inferred resource of 8.6 million tonnes assaying 7.7% Pb and 3.5% Zn. There is very good potential for extra contiguous mineralisation. Pegmont is a Broken Hill-type lead-zinc deposit.

Applications for exploration tenements cover regional areas adjacent and near to this deposit at Pegmont (Easter Succession).

At New Hope, about 10km south of Selwyn the gold-cobalt prospect mining lease under option to Pegmont Mines Ltd has yielded promising high-grade drill results.

Pegmont Lead-Zinc Deposit

  • The Pegmont lead-zinc deposit is located about 180km south of Cloncurry connected by road and track; and 25km west of the Cannington silver-lead-zinc mine. The deposit is covered by twelve mining leases.
  • Pegmont is a "Broken Hill-type" deposit, probably formed initially as a syngenetic deposit in a fault-bounded marine sub-basin.
  • Mineralisation is generally associated with magnetite within a Banded Iron Formation (BIF) which produces a magnetic anomaly.
  • Current inferred and indicated resource estimates total 8.3 million tonnes of 7.75%Pb, 3.46%Zn in the Main Lode and a further 0.3 million tonnes of 5.22%Pb, 3.77%Zn in the Gossan Lode.
  • Exploration targets include the possibility of other mineralised lenses at depth below the Main Lode and along fault structures. Geochemical and geophysical anomalies show that the mineralised system extends over a total strike length of at least 8km of which only 2km has been drill tested in some detail.
  • The deposit lies in close proximity to major mine and power infrastructure at Cannington, Osborne and Selwyn.

Mine for

Lead, Zinc, Silver

Location of Operation(s)

Queensland

Address

65 Hume Street
CROWS NEST, NSW, AUSTRALIA

Phone

+61 2 8437 3591

Website

http://www.pegmont.com.au

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