Peel Mining encounters new copper mineralisation at Mallee Bull North

THE DRILL SERGEANT: Peel Mining (ASX: PEX) has encountered new copper-dominant mineralisation while recently drilling at the company’s Mallee Bull project, near Cobar in Western New South Wales.

Peel explained the drilling was designed to test an off-hole DHEM anomaly approximately 300 metres north of Mallee Bull as part of investigations to test for new mineralisation.

The programme is anticipated to involve up to 6,000m of RC and diamond drilling.

Results received to date include:

MBRC054
7 metres at 2.01 per cent copper, 37 grams per tonne silver, 0.15g/t gold from 324m; and

MBRC055
9m at 2.24 per cent copper, 27g/t silver, 0.27g/t gold from 455m.

Peel said it was waiting on assays on further mineralisation it intersected in follow-up drill holes MBRCDD059 and MBRCDD060.

“The Mallee Bull North area was identified following a review of historic DHEM surveys adjacent to the area of interest,” Peel Mining said in its ASX announcement.

“The current drill program has focussed on broader step-out drilling at Mallee Bull North and to date has encompassed eight drill holes.

“Assay results from the first two drill holes (MBRC054 and MBRC055) confirmed that the conductor responsible for the EM anomaly is caused by significant copper mineralisation.”

Peel has conducted follow-up DHEM, which it claims to have identified a moderate-strong off-hole anomaly in close proximity to the area that has been targeted, that remains untested.

Drill hole MBDD027 is now underway to target this conductor.

“Peel is highly encouraged by the discovery of new mineralisation at Mallee Bull North, approximately 300 metres north of Mallee Bull,” the company said.

“Mineralisation remains open along strike and up and down dip, with DHEM indicating that the stronger part of EM conductor remains untested.

“Follow-up geophysics and drilling is to continue.”

Email: info@peelmining.com.au

Website: www.peelmining.com.au