Peel Mining (ASX: PEX) has announced ‘high-grade’ copper mineralisation following a resource-upgrade diamond-drilling campaign at its Mallee Bull Project in New South Wales.
The results have displayed ‘outstanding, high-grade’ copper mineralisation and have highlighted continuity of the project’s deposit, with individual grades up to 7.08%:
- Hole MBDD080: 29.15m @ 7.08% Cu, 60g/t Ag, 0.24g/t Au from 509.69
- Hole MBDD063: 29.9m @ 6.52% Cu, 110g/t Ag, 0.15g/t Au from 635.1m
- Hole MBDD068: 15m @ 2.11% Cu, 110g/t Ag, 0.16g/t Au from 497m and 31.07m @ 5.29% Cu, 44g/t Ag, 0.27g/t Au from 524m
- Hole MBDD060: 39m @ 3.93% Cu, 30g/t Ag, 0.29g/t Au from 524m
- Hole MBDD070: 34.54m @ 4.08% Cu, 43g/t Ag, 0.08g/t Au from 654m
- Hole MBDD059: 34.55m @ 3.04% Cu, 28g/t Ag, 0.14g/t Au from 544.11m
- Hole MBDD078: 22m @ 3.71% Cu, 40g/t Ag, 0.15g/t Au from 446m and 29m @ 1.59% Cu, 22g/t Ag, 0.14g/t Au from 482m
- Hole MBDD066: 36.95m @ 2.55% Cu, 23g/t Ag, 0.14g/t Au from 460.05m
- Hole MBDD077: 23m @ 2.20% Cu, 37g/t Ag, 0.27g/t Au from 510m and 4.19m @ 2.03% Cu, 15g/t Ag, 0.08g/t Au from 550m
- Hole MBDD072: 6m @ 1.43% Cu, 23g/t Ag, 0.23g/t Au from 350m and 6.6m @ 1.56% Cu, 65g/t Ag, 0.15g/t Au from 381.4m and 12.3m @ 3.57% Cu, 19g/t Ag, 0.07g/t Au from 397m
- Hole MBDD074: 23m @ 2.35% Cu, 20g/t Ag, 0.18g/t Au from 471m
- Hole MBDD076: 36.1m @ 2.06% Cu, 37g/t Ag, 0.06g/t Au from 555.9m
- Hole MBDD071: 6m @ 1.70% Cu, 36g/t Ag, 0.07g/t Au from 633m and 14m @ 2.36% Cu, 13g/t Ag, 0.07g/t Au from 646m
- Hole MBDD079: 6m @ 1.61% Cu, 21g/t Ag, 0.12g/t Au from 468m
Speaking on the results, Peel Mining CEO Jim Simpson said: “The recent results from the 2021 resource drilling campaign at Mallee Bull have confirmed Mallee Bull’s quality and continuity with exceptional copper-rich intervals from the heart of the Mallee Bull mineral system.
“The recent results from the 2021 resource drilling campaign at Mallee Bull have confirmed Mallee Bull’s quality and continuity”
Within the next week, Peel will have completed the final infill and extensional holes at Mallee Bull achieving a key milestone for the Southern Cobar Copper Project. The diamond drills will be relocating to Wirlong to commence extensional and infill drilling targeted at achieving critical mass for a future stand-alone copper project.”
This recently-discovered copper mineralisation remains open down dip and along strike, and has highlighted the robustness of the resource.
The 85km² Mallee Bull Project, located within the Gilgunnia Goldfields of New South Wales, boasts an existing JORC-2012 Mineral Resource Estimate of 6.76Mt at 1.8% Cu, 31g/t Ag, 0.4g/t Au, 0.6% Pb, 0.6% Zn (2.6% CuEq).
With drilling at the project close to completion, Peel reports that it will move forward with diamond drilling campaigns at its Wirlong Project while final assay results are pending.
Images: Peel Mining Limited
