Peel Mining’s Mallee Bull hits 25m at 8.26% copper and 61g/t silver
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These assays are from a 2021/2022 resource drilling program, which continue to highlight Mallee Bull’s quality and continuity of mineralisation.
The intersection had a super high-grade core of 7.49m @ 18.90% Copper, 142g/t Silver from 630.51m Other high-grade intersections recorded include 16m @ 4.35% Copper, 52g/t silver from 475m, 29m at 3.26% copper and 31g/t silver from 536m, including 19.04m at 4.46% copper and 41g/t silver from 544.96m.
These results represent the final assays for all drilling completed at Mallee Bull during 2021/22.
Targeted drilling at Mallee Bull continued following a restart in January 2022, with 15 new drill holes and/or wedge intercepts completed.
Mallee represents one of Australia’s highest grade undeveloped copper deposits and is located roughly 100km south of Cobar, NSW and 40km south of Peel’s Wirlong copper deposit.
Peel Mining (ASX:PEX) has wrapped up the resource upgrade drilling at Mallee, which was primarily designed to confirm the quality and continuity of the Mallee Bull mineral system.
12 diamond drill holes were completed during the March quarter for a total of 6,502m with more assays pending.
Assay results were returned for the remainder of Mallee Bull drill holes completed during 2021, which confirmed significant high-grade copper mineralised intercepts.
Mineralisation remains open down dip and along strike, with multiple stacked lodes intersected.
Mallee Bull is one of two deposits at the South Cobar Project, the other being Wirlong.
PEX CEO Jim Simpson says Wirlong is developing into an integral piece of the company’s South Cobar copper strategy, alongside Mallee Bull.
Latest hits at Wirlong include 43m grading 1.92% copper and 8 grams per tonne (g/t) silver from a down-hole depth of 280m, 49m at 1.5% copper and 6g/t silver from 260m, and 5.7m at 5.54% copper and 24g/t silver from 239m.
“We expect these results along with the results from the recent drilling at Mallee Bull to have a positive impact on the South Cobar Copper Resource upgrade planned for mid CY2022,” Simpson says.
The resource update for the broader South Cobar copper project is due in mid-2022.
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.