| Announcement Date: | 2021-11-29 |
|---|---|
| Announcement Type: | Deposit Estimation |
| Announcement Code: | JORC |
| Company name: | Peel Mining Ltd. |
| Project name: | South Cobar |
| Location: | Australia |
| Commodities: | Silver,Copper |
| Highlight: | Initial Resource Estimate for Wirlong Deposit |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | Peel Mining Ltd (ASX Code: PEX) (“Peel” or “the Company”) is pleased to report a maiden Indicated & Inferred Mineral Resource Estimate for its 100% owned Wirlong copper deposit located ~70km SSE of Cobar in Western NSW. The MRE provides Peel with further foundation to its copper first development strategy, adding further copper-rich resources to Peel’s high-grade Mallee Bull copper deposit. Wirlong is located within Peel’s 100%-owned EL8307 and EL8126. Peel was initially drawn to the area by the presence of historic copper workings, a topographic high, a >2km multi-element surface geochemical anomaly and coincident or semi-coincident magnetic (>3km), radiometric, gravity, IP and electromagnetic anomalies. Exploratory drilling at Wirlong in early 2015 identified significant primary copper mineralisation with follow-up drilling in late 2015 yielding strong copper mineralisation and confirming the potential of the prospect. Mineral Resource Estimate drilling to date has focused on a relatively confined zone covering ~350m of strike of the greater prospect area. Higher grade intervals from recently reported drillhole WLDD040 were included in the MRE, however the influence of this mineralisation was moderated by its relative location |
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