Peel scores big copper hit at Mallee Bull

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THE DRILL SERGEANT: Peel Mining (ASX: PEX) has received further encouraging results from exploration drilling at the company’s Mallee Bull project with drillhole MBDD009 intersecting a broad 72 metres zone of variable stringer/breccia sulphide mineralisation.

The intersection included an approximate 18m zone of intense chalcopyrite-dominant mineralisation from 542m.

Peel said the intercept represents the deepest hit it has encountered to date at the Mallee Bull project and indicates copper-dominant sulphide mineralisation now extends from about 150m below surface to at least 600m below surface.

 

Cross section with drill results. Source: Company announcement

 

“Geological logging shows important mineralisation in MBDD009 occurring as an approx. three metre pyrite-dominated semi-massive sulphide zone from approx. 500 metres followed by a 72 metre zone of variable stringer/breccia sulphide mineralisation from approx. 532 metres,” Peel Mining explained in its ASX announcement.

“Within the stringer/breccia zone is an 18 metre zone of intense mineralisation from 542 metres.

“The true width of the mineralised zones is interpreted to be approx. 50 per cent of the downhole intercepts.”

Peel conducted handheld XRF analysis and geological logging, which it said indicated the 18m zone from 542m to be strongly mineralised with chalcopyrite (copper).

Comparable mineralisation the company has reported in other Phase 2 drillholes has yielded individual metres grading up to 10 per cent copper and 250 grams per tonne silver.
 
“The drill result returned from MBDD009 underscores the importance of using DHEM as an effective exploration tool, with the zone of intense chalcopyrite-dominant mineralisation occurring within 10 metres of the DHEM “plate” modelling,” Peel claimed.

“This modelling implies a large and/or highly conducting causative body plunging to the north and also exhibits a strong correlation with 3D TMI (magnetic) inversion modelling.”

Peel outlined the northerly plunging geometry of the modelled conductor plates it had previously reported is consistent with 3D inversion modelling of total magnetic intensity (TMI) data collected during the VTEM survey of the 4-Mile area.

3D TMI inversion modelling carried out by the company has demonstrated the magnetic anomaly associated with the Mallee Bull prospect as a northerly plunging, horn-like feature extending out of the core of the very large Butcher’s Dog magnetic anomaly 1km north.

MBDD009 is the final drillhole of Phase 2 exploration and Peel said it anticipates assay results to be available in several weeks time.

DHEM surveying of MBDD009 is now underway.