| Announcement Date: | 2022-10-25 |
|---|---|
| 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. 16m at 3.01% Cu, 5g/t Ag from 613m |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | Diamond drilling at Wirlong commenced in April 2022 with 38 drillholes successfully completed for ~20,813m of drilling utilising three drill rigs. The current phase of drilling was completed in September with assay results now returned for 22 drillholes and pending for a further 16 drillholes. Once all assays have been received these results along with the results from earlier drilling at Mallee Bull will be incorporated into the resource update for the South Cobar Project. PEEL MINING CEO JIM SIMPSON COMMENTED: “The latest phase of infill and extensional drilling at Wirlong has now concluded, allowing Peel to progress to an updated resource for the South Cobar Project. Results to date confirm the quality of the Wirlong copper deposit and that Wirlong will be a significant component of our South Cobar Project. The significance of the infill drilling should not be understated as it has improved our confidence and understanding of the structural controls and geometry of mineralization. The completion of this drilling also allows us to move to exploration decline design and permitting with greater confidence. “ |
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