Peel Mining Intercepts Wirlong Host Structure at Depth
THE DRILL SERGEANT: Peel Mining (ASX: PEX) reported on progress being made with the drill bit at the company’s 60 per cent-owned Wirlong prospect near Cobar in western New South Wales.
Peel Mining said that drillhole WLRCDD044 had intercepted the host copper mineralising structure at Wirling, approximately 950 metres below surface, extending the depth of known mineralisation by approximately 350m.
The company acknowledged the mineralised interval from around 1004m to 1018m to be visually modest in tenor, however, Peel said it was encouraged by the confirmation of continuity of the host mineralising structure to nearly one kilometre below surface.
“As a result of the continued exploration success at Wirlong and the potential the prospect shows to host an analogue to Cobar’s CSA copper mine, which shows strong vertical development of mineralisation to approximately 2,000 metres,” Peel Mining said in its ASX announcement.
“Peel and its joint venture partner JOGMEC have agreed to extend the current work program, commencing with drillhole WLRCDD043W1 (underway) targeting an offhole DHEM conductor.”
Peel explained that drillhole WLRCDD044 was designed to test some 200m downdip of drillhole WLRCDD043, which encountered strong copper mineralisation, returning an intercept of:
17 metres at 4.59 per cent copper and 8 grams per tonne silver from 738m.
Ground conditions encountered in drillhole WLRCDD044 resulted in the drillhole diverging from design, intercepting the target zone at a depth of around 950m below surface, approximately 150m deeper than planned.
Peel also advised that drilling at the company’s 100 per cent-owned Wagga Tank prospect (also near Cobar) has resumed with a focus on targeting extensions to the known mineralised system identified by drilling carried out last year.
An initial program of up to 3,000m RC/diamond drilling is aimed at extending the footprint of mineralisation at Wagga Tank with first results anticipated in 6 to 8 weeks.
Email: info@peelmining.com.au
Website: www.peelmining.com.au