More strong copper hits for Peel Mining at its two targets in NSW
Peel Mining expects to deliver a resource upgrade for the Mallee Bull copper deposit this quarter.
Perth-based Peel Mining (ASX: PEX) has received further high-grade copper assays from its Wirlong and Mallee Bull projects near the historic Cobar mining centre in New South Wales.
Assays also returned silver values in all cases.
The two drilling programs are being carried out as part of Peel’s strategy to advance each of its deposits to mineable resource levels.
Wirlong is located 80km southeast of Cobar, and 35km north of Mallee Bull, while Mallee Bull is located on a 20,000 acre (8,094ha) pastoral lease owned by Peel.
The Mallee Bull copper deposit was discovered in 2011.
Latest assays from Wirlong include hole WLDD043 with 11m at 2.93% copper and 10 grams per tonne silver from 388m down hole, including 4.88m at 6.04% copper, 20g/t silver and 0.66g/t gold.
Infill drilling could begin next month
Another hole returned 16m at 1.55% copper and 8g/t silver, including 3m at 4.33% copper and 23g/t silver.
Assays are pending from 18 holes, including one at which visual inspection has confirmed continuity of a high-grade copper lens to the southeast, intersecting “significant” mineralisation about 30m along from the aforementioned WLDD043.
Peel says it is undertaking a review of drilling at Wirlong to investigate the potential to improve resource quality targeted infill drilling, which could begin at end the end of January.
A mineral resource estimate in November at Wirlong comprised, in combined indicated and inferred categories, 2.45 million tonnes at 2.4% copper and 8.7g/t silver for 57,900t of copper and 686,000oz of silver.
Copper-silver hit outside previous resource model
Meanwhile, two holes assayed at Mallee Bull from resource upgrade drilling have returned further copper and silver.
One interval hit 22m at 2.75% copper and 34g/t silver, including 5.1m at 5.9% copper and 55g/t silver, while the second came back with 9m at 3.53% copper and 27g/t silver, including 3.75m at 7.08% copper and 52g/t silver.
In the case of the latter, the hole represents extensional drilling with mineralisation located on the southern-most drilled section to date and about 20m beyond the previous resource model.
Assays are pending from other holes at Mallee Bull.
Managing director Rob Tyson says there is “excellent” potential to continue improving the Wirlong resource while, at Mallee Bull, resource infill and extensional drilling continues to yield wide, high-grade copper intercepts.
The company is also considering infill drilling beginning next month at Mallee Bull.