Widest Intercept Yet Highlights Growth Potential

Peel Mining Limited (ASX:PEX) (Peel or the Company) is pleased to report that ongoing drilling at its 100%-owned Wirlong and Mallee Bull copper deposits in NSW has returned further high-grade coppermineralised intercepts, including Peel's widest copper intercept achieved to date at Wirlong. Notably the intercept in WLDD040 at Wirlong is interpreted to be open along strike to the east/southeast.


KEY POINTS

WIRLONG

  • Latest assays from Peel's maiden resource drilling at Wirlong copper deposit, NSW, yields the Company's widest copper intercept to date, including further high-grade copper intervals, with new results including:

WLDD040

    • 205m @ 1.4% Cu, 3g/t Ag from 434m including:
      • 161m @ 1.53% Cu, 3g/t Ag from 434m including:
        • 7m @ 3.63% Cu, 7g/t Ag from 458m
        • 9m @ 3.19%Cu, 9g/t Ag from 475m
        • 11m @ 4.32% Cu, 8g/t Ag from 501m
        • 10m @ 4.6% Cu, 7g/t Ag from 584m
        • 16m @ 2.02% Cu, 3g/t Ag from 622m

WLDD022

    • 21m @ 1.31% Cu, 6g/t Ag from 336m including:
      • 6m @ 2.2% Cu, 9g/t Ag from 337m

WLDD024

    • 22m @ 1.36% Cu, 4g/t Ag from 256m including:
      • 5m @ 2.91% Cu, 10g/t Ag from 260m
      • 2m @ 3.69% Cu, 12g/t Ag from 274m

WLDD029

    • 13m @ 2.2% Cu, 10g/t Ag from 315m including:
      • 5m @ 4.35% Cu, 14g/t Ag from 319m
  • WLDD040 represents extensional drilling and is located on the south-eastern edge of the Wirlong Central zone with limited drilling along strike to south-east
  • Recent structural review has highlighted the potential for mineralisation to continue along strike to the south-east of WLDD040
  • Processing and assaying continue with further results expected in the coming weeks
  • Maiden resource estimate modelling underway and anticipated in Dec Q 2021
  • Drilling at Wirlong continuing, targeting growth and upgrade potential

MALLEE BULL

  • Latest assays from Mallee Bull resource upgrade drilling yield further high-grade copper mineralisation:

MBDD053

    • 26.84m @ 3.12% Cu, 23g/t Ag, 0.14g/t Au from 542.16m including:
      • 3.44m @ 4.43% Cu, 76g/t Ag, 0.62g/t Au from 542.16m
      • 10m @ 5.92% Cu, 30g/t Ag, 0.12g/t from 553m
  • MBDD053 mineralisation indicates the mineralised resource domain thickens on the southern edge of Mallee Bull
  • Mallee Bull copper resource upgrade drilling continues with two diamond rigs operating and ~80% of original resource drilling program completed
  • Processing and assaying continue with further results expected in the coming weeks
  • Drilling primarily aims to convert Inferred classified resources to Indicated classification
  • Peel expects to deliver a Mallee Bull Resource update towards the end of Dec Q 2021
Resource drilling at both prospects is continuing, whilst modeling for maiden resource estimation at Wirlong is now underway, as part of Peel's copper first development strategy. Wirlong and Mallee Bull are part of Peel's South Cobar Project, centred around 100km south of Cobar in Western NSW.

Read the full article here.
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