Peel tests fitness of Mallee bull

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THE DRILL SERGEANT: Perth-based explorer Peel Mining has reported the results of follow-up Reverse Circulation (RC) and diamond drilling at the Mallee Bull prospect (previously known as 4-Mile).

Mallee Bull is part of the company’s 100 per cent-owned May Day-Gilgunnia project located about 100 kilometres south of Cobar in New South Wales.

 

Source: Company announcement

 

According to Peel the recent drilling has intersected additional new high-grade Cobar-style polymetallic mineralisation.

Assays results received included:

10 metres at 2.89 per cent copper equivalent (2.22 per cent copper, 33 grams per tonne silver, 0.44 grams per tonne gold) from 174 metres; and

 4m at 2.97 per cent copper equivalent (1.98 per cent copper, 45g/t silver, 0.72 g/t gold) from 358m.

“The results continue to confirm that Mallee Bull is host to high-grade copper-dominant mineralisation, and importantly, that the mineralising system is open at depth,” Peel Mining said in its ASX announcement.

The latest results follow on from others the company reported in mid-January where better assay results included:

6m at 3.05 per cent copper equivalent (2.01 per cent copper, 64 g/t silver, 0.43 g/t gold) from 208m;

11m at 3.30 per cent copper equivalent (2.71 per cent copper, 36 g/t silver, 0.26 g/t gold) from 233m; and

10m at 3.47 per cent copper equivalent (2.66 per cent copper, 44 g/t silver, 0.51 g/t gold) from 237m.

Peel carried out the latest drilling program based on these results in order to test along strike and down dip of the previously intersected mineralisation.

Assay data for a number of the recent drillholes remain outstanding, although the company did say multiple drillholes completed to date have intersected zones of polymetallic mineralisation.

“Drilling to date indicates that high-grade copper-dominant polymetallic mineralisation at Mallee Bull has a strike length of at least 120 metres, comes to within at least around 150 metres of surface, extends to at least around 310 metres below surface and is open in multiple directions including at depth,” Peel said.