Blue Mountain is located 7 km northeast along strike from Peel Mining’s (ASX:PEX) Wagga Tank-Southern Nights Zn-Pb-Cu-Au-Ag deposit adjacent to the western margin of the Cobar Basin. The prospect is defined by a strong bedrock Pb-Zn-Cu-As geochemical anomaly extending over a strike length of 2.1km straddling a favourable geological boundary. A strong, virtually untested IP chargeability anomaly and several discrete gravity anomalies are coincident with the multi-element geochemical anomaly.

PBIX has completed a substantial amount of exploration at Blue Mountain, including detailed surface geochemical sampling, geophysical surveying such as IP and gravity, and RC and diamond drill programs.

Drill results indicative of Cobar-style mineralising events have returned significant Pb-Zn and Cu mineralisation up to 11.5% Zn+Pb and 2.69% Cu and are scheduled to be thoroughly followed up in future programs.