Peel Mining (ASX: PEX) has delivered more ‘high-grade’ copper intercepts from ongoing drilling at its Mallee Bull and Wirlong copper deposits in New South Wales.
Key intercepts from Mallee Bull resource-upgrade drilling include:
- Hole MBDD064:
- 58m @ 4.96% Cu, 59g/t Ag, 0.20g/t Au from 585m; including
- 31m @ 7.62% Cu, 78g/t Ag, 0.24g/t Au from 589m
- 58m @ 4.96% Cu, 59g/t Ag, 0.20g/t Au from 585m; including
- Hole MBDD058:
- 48m @ 3.61% Cu, 36g/t Ag, 0.22g/t Au from 484m; including
- 15.93m @ 6.25% Cu, 57g/t Ag, 0.25g/t Au from 504.7m,
- 7.28m @ 4.48% Cu, 52g/t Ag, 0.28g/t Au from 524m
- 48m @ 3.61% Cu, 36g/t Ag, 0.22g/t Au from 484m; including
- Hole MBDD056:
- 31m @ 3.21% Cu, 32g/t Ag, 0.22g/t Au from 396m; including
- 5m @ 10.60% Cu, 68g/t Ag, 0.39g/t Au from 419.1m
- 31m @ 3.21% Cu, 32g/t Ag, 0.22g/t Au from 396m; including
- Hole MBDD073:
- 14.3m @ 2.14% Cu, 21g/t Ag, 0.21g/t Au from 484m
- 9.5m @ 2.30% Cu, 18g/t Ag, 0.14g/t Au from 517m
- Hole MBDD054:
- 9m @ 2.36% Cu, 44g/t Ag, 0.44g/t Au from 382m
Further partial results from Wirlong include:
- Hole WLDD047:
- 4m @ 2.04% Cu, 3g/t Ag from 526m,
- 5m @ 6.75% Cu, 11g/t Ag from 544m
Resource drilling at both prospects was paused for the Christmas / new year period, with reviews conducted on both programs to determine opportunities to increase resource quality and scale for economic study work. This work has now been completed, with targeted infill drilling at Mallee Bull underway.
Commenting on the results, Peel Mining Managing Director Rob Tyson said: “Resource drilling at Mallee Bull has delivered a number of exceptional copper-rich intervals, highlighting the incredible tenor of chalcopyrite present in the heart of the mineral system. These results provide strong encouragement that the upcoming resource upgrade will demonstrate the high-grade nature of Mallee Bull and its economic importance as the Company progresses our copper-first strategy.”
“These results provide strong encouragement that the upcoming resource upgrade will demonstrate the high-grade nature of Mallee Bull”
The drilling has formed part of Peel’s ‘copper-first’ development strategy which aims to advance each of its deposits to higher-confidence mineable resources.
A review of Mallee Bull resource drilling completed in December 2021 had identified an opportunity to improve resource quality with targeted infill drilling. This program commenced in mid-January 2022, with previous drilling completed prior to Christmas now logged and processed. Assays remain pending for 19 holes.
The company noted that the drillholes MBDD054, 056, 058, and 064 are located in the centre of Mallee Bull, and highlight the deposit’s exceptional high-grade core. Meanwhile, drillhole MBDD073 is located on the northern end of the deposit and indicates continuation of the resource to the north.
At Wirlong, assays are currently pending for 3 drillholes, with a further 4 currently being processed and 12 awaiting processing.
Map of Peel Mining’s South Cobar along with surrounding projectsThe deposits form part of Peel’s South Cobar Project, situated around 100km south of Cobar in Western NSW. Wirlong sits within Peel’s 100%-owned EL8307 tenement, located around 80km south-southeast of Cobar, while Mallee Bull is located approximately 100km south of Cobar on a 20,000-acre pastoral lease owned by Peel Mining.
Moving forward, Peel reports that it aims to deliver a Mallee Bull resource update within Q1 2022, along with a further resource upgrade at Wirlong by mid-2022.
Images: Peel Mining Limited
