Peel Mining Claims New Intersections Demonstrate Wirlong Potential

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THE DRILL SERGEANT: Peel Mining (ASX: PEX) reported drilling results from the company’s 60 per cent-owned Wirlong prospect near Cobar in western New South Wales.

Peel Mining said the recent drilling at Wirlong had returned further encouraging intercepts, including a strong copper mineralised interval at depth (assays pending), extending the down-dip continuity of copper mineralisation to approximately 600 metres below surface.

Peel Mining explained that drillhole WLRCDD043 had been designed to test for mineralisation at approximately 600m below surface, down dip of previously encountered high-grade intersections at Wirlong, including:

WLRCDD015
4.9 metres at 4.3 per cent copper, 13 grams per tonne silver from 402.1m and 22m at 1 per cent copper, 4g/t Ag from 332m;

WLDDD001
9m at 8 per cent copper, 17g/t silver, 0.21g/t gold from 616m and 38m at 1.18 per cent copper, 4g/t silver from 450m;

WLRCDD024
26m at 1.21 per cent copper, 5g/t silver from 227m; and

WLRC035
9m at 3.29 per cent copper, 0.6 per cent zinc, 18g/t silver from 70m.

“Significantly, WLRCDD043 intersected strong copper mineralisation, with preliminary logging showing a 16 metre zone from 749 metres comprising chalcopyrite-rich veins/stringers/breccia,” Peel Mining said in its ASX announcement.

“The true width of mineralisation is interpreted to be approximately 14 metres.

“Logging of the mineralisation shows very pure chalcopyrite with only minor accessory pyrrhotite and pyrite sulphides.

“Assays for WLRCDD043 are pending and expected in approximately four weeks.

“The encouraging initial indications have prompted the decision to drill another hole, WLRCDD044, testing down-dip from WLRCDD043, which is now underway.”

The Wirlong prospect is part of Peel’s Cobar Superbasin project, which is subject to a farm-in agreement with Japan Oil, Gas, Metals National Corporation (JOGMEC).

JOGMEC has earned a 40 per cent interest through expenditure of $4 million, and is now earning a further 10 per cent interest through an additional $3 million expenditure.

Email: info@peelmining.com.au

Website: www.peelmining.com.au