Peel’s thickest 205m copper hit at Wirlong a sign of more to come?

Peel’s maiden resource drilling at the Wirlong deposit has intersected the widest copper intercept to date of 205m grading 1.4% copper and 3g/t silver from 434m.

The intercept in WLDD040 includes higher-grade intersections such as 10m at 4.6% copper and 7 grams per tonne (g/t) silver from a depth of 584m and 11m at 4.32% copper and 8g/t silver from 501m as well as a deeper intersection of 16m at 2.02% copper and 3g/t silver from 622m.

Importantly, Peel Mining (ASX:PEX) notes that this standout hole is located on the southeastern edge of the Wirlong Central zone.

While limited drilling has been carried out along strike to the southeast, a recent structural review had highlighted the potential for mineralisation to continue along strike to the southeast of WLDD040.

Other notable results from drilling at Wirlong are 21m at 1.31% copper and 6g/t silver from 336m (WLDD022), 22m at 1.36% copper and 4g/t silver from 256m (WLDD024), and 13m at 2.2% copper and 10g/t silver from 315m.

Resource upgrade drilling at Mallee Bull also continues to yield further high-grade copper mineralisation including a 26.84m intersection grading 3.12% copper, 23g/t silver and 0.14g/t gold from a depth of 542.16m including 10m at 5.92% copper and 30g/t silver from 553m at MBDD053.

This intercept indicates that the mineralised resource domain thickens on the southern edge of Mallee Bull.

“Maiden resource modelling and estimation for Wirlong is now underway whilst resource drilling continues to define this growing copper system where mineralisation remains open in most directions,” managing director Rob Tyson noted.

“WLDD040 has returned the most significant copper intercept at Wirlong to date and recent structural modelling indicates that this mineralisation remains open along strike to the southeast.

“At Mallee Bull, resource drilling continues to advance with ~80% of the original resource definition program completed. MBDD053 has yielded a wide, high grade copper intercept on the boundary of the current resource indicating a significant thickening of the Mallee Bull lode in this area.”

Wirlong and Mallee Bull

Wirlong and Mallee Bull are both the focus of the company’s attention within the broader South Cobar project in New South Wales.

Mallee Bull currently hosts a resource of 6.76Mt grading 1.8% copper, 31g/t silver, 0.4g/t gold, 0.6% lead and 0.6% zinc (2.6% copper equivalent).

Mineralisation starts from about 60m below surface and has been defined to at least 800m below surface while remaining open along strike and at depth.

However, the bulk of the copper resource is located from about 350m below surface and is predominantly defined at an inferred level.

Wirlong is a little less advanced compared to Mallee Bull though metallurgical work has highlighted the lack of impurities in the chalcopyrite host rock, which has resulted in copper recoveries of 95% to a 32% copper concentrate.

Upcoming activity

Drilling at both Wirlong and Mallee Bull is continuing with further assay results expected in the coming weeks.

Peel noted that maiden resource modelling for Wirlong is underway and anticipated to be released in the current quarter.

Likewise, the drilling to upgrade inferred resources at Mallee Bull to the higher confidence indicated category is also expected to be delivered before the end of 2021.

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.