Peel Mining confirms new copper hits at Mallee Bull
THE DRILL SERGEANT: Peel Mining (ASX: PEX) has received assay results from recent extensional drilling carried out at the company’s 50 per cent-owned Mallee Bull project near Cobar in Western New South Wales.
Peel said the results had confirmed a considerable new copper mineralised intercept on the northern edge of the project’s current mineral resource model.
Drilling is ongoing at Mallee Bull as part of Peel’s investigations to test for new mineralisation.
Four drillholes were completed in this most recent round of drilling, whilst a fifth drillhole is continuing (MBRCDD049 to MBRCDD051, MBRCDD050W1 and MBDD026W1).
The company explained these drillholes were designed to test along strike to the north from previously identified mineralisation.
Assay results for MBRCDD050 have been received with results for all other drillholes pending.
MBRCDD050 was designed to test for mineralisation at between 400 to 500 metres below surface and about 80m further north than previous drilling.
MBRCDD050 returned:
62 metres (approx. 40m true width) at 3.15 per cent copper, 42 grams per tonne silver, 0.28g/t gold from 465m, including a high grade zone of 34m (approx. 22m true width) at 4.6 per cent copper, 63g/t silver, 0.44g/t gold from 475m.
“The mineralisation occurs as a broad interval of quartz-sulphide (chalcopyrite-pyrrhotite) stringer/breccia style within structurally deformed turbidite sediments,” Peel Mining said in its ASX announcement.
“The true widths of these intervals are significantly wider than the three metre ‘footwall domain’ interval previously modelled for this area, and is likely extensional.”
Follow-up wedge diamond drillhole MBRCDD050W1 was also completed targeting approx. 80m down dip from MBRCDD050.
MBRCDD050W1 intersected approx. 13m of pyrite-pyrrhotite-chalcopyrite massive sulphide mineralisation from approx. 406m downhole.
Peel interpreted the true width of this mineralisation to be around 9m.
“This mineralisation correlates with the ‘hanging-wall domain’ present at Mallee Bull and occurs about 50 metres further north than the current assumed modelled boundary position for this type of mineralisation, and is assumed extensional,” the company said.
“No significant stringer mineralisation was intercepted.”
Diamond drillhole MBDD026W1 is currently underway and has been designed to test for mineralisation at around 500m below surface and about 40m further north of drillhole MBRCDD050.
“Peel is encouraged by the mineralised intervals in MBRCDD050 and MBRCDD050W1, which indicate greater strike continuity of copper mineralisation than previously assumed,” the company said.
“DHEM is now planned for several recently completed drillholes to guide further drillhole planning.”
Email: info@peelmining.com.au
Website: www.peelmining.com.au