Announcement Date: 2022-06-01
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Peel Mining Ltd.
Project name: South Cobar
Location: Australia
Commodities: Silver,Copper
Highlight: Drilling results incl. 43m @ 1.92% Cu, 8g/t Ag from 280m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: The latest diamond drilling results (a total of 18 drillholes) represent the final assays for all drilling completed at Wirlong to the end of the CY2021 which were not included in the Wirlong maiden mineral resource estimate released in November 2021. (Refer PEX ASX release 29 November 2021 “High Grade Maiden Copper Resource at Wirlong”). Diamond drilling at Wirlong commenced in April 2022 with 48,000m of drilling planned utilising up to four drill rigs. The objective of this program is to target extensions to the mineralisation and upgrade the classification of the Wirlong Resource. Drilling is expected to be complete by the end of this calendar year. Extensional drilling has already intercepted zones of significant mineralisation outside of the existing resource model. WLDD061 intercepted several zones of mineralisation including a broad zone of mineralisation from ~575m to ~620m inclusive of a massive chalcopyrite interval (see Figure 1 & Table 5 for Visual Estimate). This zone occurs ~50m down dip of the current resource model at ~600m below surface. These results along with the results from Mallee Bull will feed into a resource update for the South Cobar Copper Project due mid CY2022.
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