Peel Mining intercepts more copper at Mallee Bull

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THE DRILL SERGEANT: Diamond drilling being carried out by Peel Mining (ASX: PEX) at the company’s Mallee Bull copper-polymetallic discovery has returned further copper-polymetallic sulphide intercepts, which the company said confirms the strike continuation of deeper mineralisation.

The latest drilling results follow a previously identified cumulative intercept (hole MBDD002) of 72 metres at 2.11 per cent copper, 41 grams per tonne silver, 1.13 grams per tonne gold, 384 grams per tonne cobalt (3.51 per cent copper equivalent).

Recent highlights include:

MBDD003 (drilled 60m north of MBDD002) returned a cumulative intercept of 36m at 1.58 per cent copper, 48 g/t silver, 0.43 g/t gold, 132 g/t cobalt (2.52 per cent copper equivalent ) comprising three zones of strong copper-dominant sulphide mineralisation:

–    10m at 1.12 per cent copper, 47 g/t silver, 0.95 g/t gold, 377 g/t cobalt (2.47 per cent copper equivalent ) from 367m;

–    12m at 1.58 per cent copper, 39 g/t silver, 0.14 g/t gold, 39 g/t cobalt (2.18 per cent copper equivalent ) from 386m; and

–    14m at 1.92 per cent copper, 56 g/t silver, 0.30 g/t gold, 37 g/t cobalt (2.85 per cent copper equivalent ) from 409m.

MBDD004 (40m south of MBDD002) returned a thick zone of copper-dominant sulphide mineralisation comprising:

–    42m at 1.01 per cent copper, 23 g/t silver, 0.91 g/t gold, 250 g/t cobalt (1.99 per cent copper equivalent ) from 356m, including 4m at 2.53 per cent copper, 30 g/t silver, 0.38 g/t gold, 265 g/t cobalt (3.26 per cent copper equivalent ) from 384m.

MBDD005 (40m south of MDD002) swung substantially off-section to the south, however still returned several zones of strong copper-dominant sulphide mineralisation comprising:

–    5m at 1.75 per cent copper, 31 g/t silver, 0.21 g/t gold, 110 g/t cobalt (2.33 per cent copper equivalent ) from 414m; and

–    5m at 1.44 per cent copper, 68 g/t silver, 0.34 g/t gold, 46 g/t cobalt (2.56 per cent copper equivalent ) from 421m.

 

Source: Company announcement

 

“These assay results confirm broad, strong copper-polymetallic mineralisation at deeper levels within Mallee Bull and add gravitas to the excellent results returned from MBDD002,” Peel Mining managing director Rob Tyson said in the company’s announcement to the Australian Securites Exchange.

“The verification of along strike continuity provided by these results is further proof of Mallee Bull’s pedigree as an important copper discovery.”

Peel said drilling at Mallee Bull is continuing with vertical drillhole MBDD007 currently underway and designed to serve as a platform for downhole EM and wedging/navi-drilling of deeper targets.

The company said the drilling it had completed to date indicates high-grade copper-dominant polymetallic sulphide mineralisation at Mallee Bull to a strike length of approx. 120m, to within 150m of surface, and now extends to at least 400m below surface and is open in multiple directions including at depth.