Peel flags strong copper hits at Wirlong ahead of resource update

Final assays from diamond drilling at Peel Mining’s Wirlong deposit at its emerging South Cobar copper project have returned some strong copper hits ahead of a planned resource update.

Diamond drilling at Wirlong commenced in April 2022 with 38 drillholes successfully completed for ~20,813m.

Highlights from these final assays include:

82m @ 2.07% Cu, 5g/t Ag from 425m including 20m @ 3.73% Cu, 9g/t Ag from 438m and 8m @ 5.26% Cu, 12g/t Ag from 476m ; and
15m at 6.79% copper, 19 g/t silver from 240m, including 7m at 13.36% copper, 38 g/t silver from 240m.
70m @ 1.72% Cu, 8g/t Ag from 308m including 12m @ 4.31% Cu, 18g/t Ag from 351m

Peel Mining (ASX:PEX) says the results will be incorporated into the mineral resource estimate for the South Cobar Project.

Resource update this quarter

Wirlong is one of two deposits – the other being Mallee Bull – at the South Cobar project and these latest results confirm it as a significant part of the Project.

It stands alongside the 2017 Mallee Bull resource, also due for update with the benefit of new drilling completed in March, which currently includes 6.76Mt indicated and inferred resources at 1.8% copper, 31g/t silver, 0.4g/t gold, 0.6% lead and 0.6% zinc for a 2.6% copper equivalent grade.

“The final assays for this latest phase of drilling at Wirlong have now been received and will be incorporated into an updated mineral resource estimate for the South Cobar Project, which we are targeting for release in this quarter,” CEO Jim Simpson said.

The company is also incorporating these results into its Wirlong geological model to enable it to prioritise exploration targeting for future growth of the Wirlong mineral resource.

This article was developed in collaboration with Peel Mining Limited, 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.