Peel Mining Records Big Copper Hits at Wirlong

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

Peel Mining explained the ongoing drilling is aimed at better defining and extending the known footprint of copper mineralisation at Wirlong, which it considers to bear the hallmarks of a Cobar-style deposit, with many similarities to Glencore’s CSA copper mine.

“Drilling at Wirlong continues to identify significant copper mineralisation and, as recently foreshadowed, drillholes WLRC026 and WLRC052 returned very strong chalcopyrite-dominant drill intercepts,” Peel Mining said in its ASX announcement.

“Assay results from WLRC026 have now been received with the tenor of copper mineralisation substantially higher than initially indicated by portable XRF (pXRF) analyser.”

Results include:

WLRC026
27 metres at 5.3 per cent copper, 23 grams per tonne silver from 286m (versus 26m at 2.89% copper from 287m in pXRF).

Mineralisation comprises massive/semi-massive/stringer/disseminated chalcopyrite-dominant sulphides.

WLRC026 was extended from 277m to 350m, following recognition of potential beyond prior end-of-hole.

Full assays for WLRC052 remain pending, however assays from a zone of strong mineralisation returned a preliminary result of:

5m at 15.75 per cent copper, 52g/t silver from 299m.

Further mineralisation contiguous with this zone is expected, as indicated by the previously reported pXRF result of 9m at 8.59 per cent copper from 299m.

Drillholes WLRC052 and WLRC053 (results pending also) were completed following the intersection of mineralisation in WLRC026.

“Recent drilling results indicate that the Wirlong copper system is structurally dislocated and possibly constitutes a series of stacked, short-strike length, shoot-like structures,” Peel continued.

“This is a typical feature of Cobar-style mineralisation and deposits.

“The true width remains unknown at this point, however it is considered likely that mineralisation is sub-vertical in nature, therefore true widths would be approximately 60 to 80 per cent of downhole widths.

“Peel and its joint venture partner JOGMEC remain highly encouraged by results to date, and by the obvious economic potential of the Wirlong copper system.”

Email: info@peelmining.com.au

Website: www.peelmining.com.au