Yerranderie - EL7356 - located about 25 km west of Picton, New South Wales, contains the historic Yerranderie silver field. Investigations indicate that substantial amounts of silver-lead-gold mineralisation remain present in surface waste and tailings dumps at Yerranderie.

During 2010, Peel commenced heritage and environmental studies at Yerranderie. Peel also completed a programme of dump grab sampling with results confirming that high levels of silver‐gold‐lead remain present in tailings at Yerranderie. Results ranged between 112 g/t Ag to 1,450 g/t Ag. Peel also undertook initial metallurgical testwork with results indicating cyanide leaching could yield an average 67% silver recovery and 81% gold recovery on the sample material tested.