Peel Mining hits massive copper mineralisation of up to 7.08% at Mallee Bull
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These “exceptional” copper results have been returned from drilling completed prior to the end of 2021 at the Mallee Bull Project in New South Wales.
Targeted drilling at Mallee Bull has continued following restart in January 2022, with 10 new drillholes and intersections completed (and two remaining holes underway).
Resource upgrade drilling was designed to confirm the robustness of the Mallee Bull resource as a cornerstone of Peel’s (ASX:PEX) strategy to advance its South Cobar Copper Project.
A total of 33,545 metres and 64 holes have been drilled over this period and the final extensional drill holes at Mallee Bull are expected to be completed shortly with the drill rigs relocating to Wirlong in the coming days.
Peel Mining CEO Jim Simpson said the results from 2021 resource drilling at Mallee Bull confirm the quality and continuity with “exceptional copper-rich intervals from the heart of the Mallee Bull mineral system.”
“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,” he said.
“The diamond drills will be relocating to Wirlong to begin extensional and infill drilling targeted at achieving critical mass for a future stand-alone copper project.”
Highlights from drilling include:
PEX says assays received to date line up with prior drilling both spatially and for grade, “which is very positive” for resource categorisation in the next update, as 5.4mt out of 6.76mt (80%) is currently classified as Inferred.
Extensional and infill drilling at Wirlong is anticipated to commence in the coming days utilising three drill rigs.
Assays for 18 drillholes completed prior to the end of 2021 are pending following completion of processing.
Completion of the recent resources review by the company has highlighted the potential for significant resource growth at Wirlong with those findings feeding into drill planning and design for the upcoming extensional and resource growth drill program.
This article was developed in collaboration with Peel Mining, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.