Announcement Date: 2022-04-11
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Peel Mining Ltd.
Project name: South Cobar
Location: Australia
Commodities: Gold,Silver,Copper
Highlight: Drilling results incl. 29.15m @ 7.08% Cu, 60g/t Ag, 0.24g/t Au from 509.69m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: The latest diamond drilling results represent the final assays for all drilling completed at Mallee Bull to the end of 2021. Targeted drilling at Mallee Bull has continued following restart in January 2022, with 10 new drillholes/intercepts completed (and two remaining holes underway) at the time of reporting. A comprehensive table of significant results to date is included in Table 3. Mallee Bull resource upgrade drilling was undertaken to confirm the robustness of the Mallee Bull resource as a cornerstone of Peel’s strategy to advance its South Cobar Copper Project. A total of 33,545 metres and 64 holes have been drilled over this period. The final extensional drill holes at Mallee Bull are anticipated to be completed shortly with the drill rigs relocating to Wirlong in the coming days. Mineralisation remains open down dip and along strike, with multiple stacked lodes intersected. The assays received to date from this drill programme line up with prior drilling both spatially and for grade which is very positive for resource categorization in the next update, as 5.4mt out of 6.76mt (80%) is currently classified as inferred.
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