Peel Mining delivers 60 metre mineralised drill intercept at Mallee Bull

THE DRILL SERGEANT: Peel Mining (ASX: PEX) lit up the boards of the ASX with the announcement that extensional drilling at the company’s 50 per cent-owned Mallee Bull project near Cobar in Western New South Wales, has returned a substantial new copper mineralised intercept on the northern edge of the current mineral resource model.

Drill hole MBRCDD050 was designed to test for mineralisation at between 400 to 500 metres below surface and about 80m further north than previous drilling.

The hole intercepted a 60m downhole (40m true width) interval of extensive quartz-sulphide (chalcopyrite-pyrrhotite) stringer/breccia style mineralisation commencing at about 467m downhole, which included a strongly mineralised 47m interval (31m true width) commencing from 475m.

Peel is now waiting to receive assay results, however the company said it expected “significant copper results” will be returned.

“The true widths of these intervals are significantly wider than the three metre footwall stringer interval previously modelled for this area,” the company said in its ASX announcement.

“Mineralisation remains open to the north and down dip.

“Peel is encouraged by the thicker than expected mineralised interval in MBRCDD050 which possibly indicates greater strike continuity of copper mineralisation than previously assumed.

“Further drilling along with downhole EM is planned to investigate this potential.”

Two other holes MBRCDD049 and MBRCDD0551 were also completed.

MBRCDD049 was designed to test for mineralisation at between 300 to 400m below surface and about 120m further north than previous drilling.

The hole swung about 25m further south than originally planned to intercepted multiple intervals of quartz-sulphide (chalcopyrite-pyrrhotite) stringer/breccia style mineralisation commencing at about 350m downhole.

Assays are also awaited for this hole, which Peel said it anticipates to again contain noteworthy copper mineralisation.

The company expects the true width of these intervals to be about 70 per cent of downhole widths.

MBRCDD051 tested for mineralisation at between 350 to 450m below surface and about 80m further north than previous drilling.

It too intercepted multiple intervals of quartzsulphide (chalcopyrite-pyrrhotite) stringer/breccia style mineralisation commencing at about 375m downhole.

Again, assays are on their way and Peel expects downhole intervals 385-390m, 396- 402m, 461-467m, and 483-488m to also contain considerable copper mineralisation.

The true width of these intervals is expected to be about 60 per cent of downhole widths.

Email: info@peelmining.com.au

Website: www.peelmining.com.au