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Small-Cap Companies to Contribute at Diggers & Dealers (part 2)

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THE CONFERENCE CALLER: The Roadhouse continues its look at the smaller explorers presenting at the upcoming Diggers & Dealers Forum in Kalgoorlie.

This week we look at some of these smaller explorers whose share prices currently sit over 10 cents and under 20 cents per share (at time of writing).

 

Peel Mining (ASX: PEX) 16.5 cents

 

 

Peel Mining has been busy interpreting results generated by drilling at the Mallee Bull and Wirlong deposits at the company’s South Cobar copper project in New South Wales.

Results from a 2021/22 resource drilling program at Mallee Bull highlighted the deposit’s quality and continuity of mineralisation throughout the infill program.

At Wirlong, results also confirmed quality and continuity of the deposit with high-grade copper intervals intersected throughout the Wirlong mineral system.

Wirlong is developing into an important part of Peel’s South Cobar Copper strategy alongside Mallee Bull.

The company anticipates the results from Wirlong, along with the results from Mallee Bull, to have a positive impact on the South Cobar copper Resource upgrade planned for mid CY2022.

 

 

 

 

 

 

 

 

 

Nickelsearch (ASX: NIS) 11.5 cents

Earlier this year, NickelSearch conducted an integrated and systematic nickel sulphide targeting study that identified and prioritised over 30 greenfield exploration targets across the company’s wholly-owned Carlingup nickel project, located in Ravensthorpe, Western Australia.

The study produced 11 Priority 1 targets and defined a highly prospective mineralised corridor at Carlingup South over a strike extent of nine kilometres, with three drill-ready targets, subject to receiving necessary approvals and conducive ground conditions.

This targeting work was enhanced by ultra fine soil assay results along the Carlingup South trend that returned highly anomalous Kambalda and Platinum Group Metals (PGM) responses, which Nickelsearch considers being indicative of komatiitic nickel sulphides at depth.

NickelSearch is embarking on a modern, rigorous, and comprehensive exploration program across its entire tenement package.

This is the first time this land package has been consolidated under one company.

 

Panoramic Resources (ASX: PAN) 18.75 cents

Ignore Panoramic Resources at your peril with the company recently advising that commercial production has been achieved at its Savannah nickel project in Western Australia.

The company commenced commercial production at Savannah from 1 April 2022 following the first production of concentrate in October 2021.

Panoramic signalled the ramp-up of underground mining will continue throughout FY23 as development of additional levels opens new areas for production, from Savannah North.

Annual production from Savannah is forecast to increase in FY23 with guidance of:

6,600 – 7,100 tonnes of nickel in concentrate;
4,100 – 4,500 tonnes of copper in concentrate; and
400 – 500 tonnes of cobalt in concentrate.

FY23 production guidance for nickel in concentrate reflects a blended production of ore from Savannah (remnants) and Savannah North (new mine).

Savannah North provides approximately 62 per cent of the ore feed, with Savannah providing the balance.

 

Galena Mining (ASX: G1A) 13.5 cents

Galena Mining’s 60 per cent-owned Abra base metals mine is a lead-silver project located in the Gascoyne region of Western Australia.

At latest report, construction of the Abra project is currently 75 per cent complete with Galena confirming first concentrate production on-target for Q1 2023.

The project’s CY2023 mill throughput is expected to be 0.8-1 million tonnes per annum resulting in ramp-up year lead production of 53,000-68,000 tonnes.

Following ramp-up, the life of mine average annual production is expected to average 93,000 tonnes of lead and 553,000 ounces of silver, with lead C1 direct cash costs of US$0.50 per pound.

 

Pantoro (ASX: PNR) 18.5 cents

Pantoro has a couple of major feathers in its operations cap at present, the first being its 50 per cent-owned Norseman project where construction continues apace.

The project has a substantial Ore Reserve of 900,000 ounces that increased 48 per cent since release of a Phase One DFS in October 2020.

Pantoro completed a $45 million capital placement earlier this year to accelerate mining at Norseman and maintain growth exploration activities at high rates while also supporting advancement of the Lamboo PGE project within the company’s second feather, the 100 per cent-owned Halls Creek project.

Recent step out drilling at the Lamboo nickel-PGE prospect returned strong PGE, nickel and cobalt assays.

An added extra was the inclusion of coincident rhodium and iridium grades returned in the northern extensions of the platinum-palladium-gold zones the company has drilled to date.

 

 

 

 

Peel Mining Hits Widest Copper at Wirlong

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THE DRILL SERGEANT: Peel Mining (ASX: PEX) greeted the day one crowd at the South West Connect Conference in Busselton with news on drilling from the company’s 100 per cent-owned Wirlong and Mallee Bull copper deposits in New South Wales.

Peel Mining reported that recent drilling had returned further high-grade copper-mineralised intercepts, including the company’s widest copper intercept achieved to date at Wirlong of:

WLDD040
205 metres at 1.4 per cent copper, 3 grams per tonne silver from 434m.

This intercept included:

161m at 1.53 per cent copper, 3g/t silver from 434m, including 7m at 3.63 per cent copper, 7g/t silver from 458m, 9m at 3.19 per cent copper, 9g/t silver from 475m, 11m at 4.32 per cent copper, 8g/t silver from 501m, and 10m at 4.6 per cent copper, 7g/t silver from 584m; and

16m at 2.02 per cent copper, 3g/t silver from 622m.

Drilling at Mallee Bull for a pending resource upgrade also yielded further high-grade copper mineralisation, including:

MBDD053
26.84m at 3.12 per cent copper, 23g/t silver, 0.14g/t gold from 542.16m, including 3.44m at 4.43 per cent copper, 76g/t silver, 0.62g/t gold from 542.16m, and 10m at 5.92 per cent copper, 30g/t silver, 0.12g/t gold from 553m.

“Maiden resource modelling and estimation for Wirlong is now underway whilst resource drilling continues to define this growing copper system where mineralisation remains open in most directions,” Peel Mining managing director Rob Tyson said in the company’s ASX announcement.

“WLDD040 has returned the most significant copper intercept at Wirlong to date and recent structural modelling indicates that this mineralisation remains open along strike to the southeast.

“At Mallee Bull, resource drilling continues to advance with approximately 80 per cent of the original resource definition program completed.

“MBDD053 has yielded a wide, high grade copper intercept on the boundary of the current resource indicating a significant thickening of the Mallee Bull lode in this area.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@peelmining.com.au

 

Web: www.peelmining.com.au

 

Peel Mining Continues High-Grade Mallee Bull Hits

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THE DRILL SERGEANT: Peel Mining (ASX: PEX) reported assays from recent drilling at the company’s 100 per cent-owned Mallee Bull copper deposit, centred approx. 100 kilometres south of Cobar in New South Wales.

Peel Mining claimed the infill drillholes conducted during resource upgrade drilling confirmed additional high-grade copper and very high-grade zinc-lead-silver mineralised intercepts.

The latest assays from Mallee Bull resource upgrade drilling yielded further high-grade copper and very high-grade zinc-lead-silver mineralisation, including:

MBDD052
57 metres at 3.7 per cent copper, 39 grams per tonne silver from 614m

MBDD048
24.7m at 4.33 per cent copper, 33g/t silver from 414.3m, and 4.41m at 16.82 per cent zinc, 17.67 per cent lead, 109g/t silver, 0.45 per cent copper, 0.98g/t gold from 352.59m

MBDD040
10m at 3.41 per cent copper, 35g/t silver from 426m

MBDD039
20.7m at 2.28 per cent copper, 44g/t silver from 390.3m

MBDD051
9m at 13.11 per cent zinc, 12.83 per cent lead, 107g/t silver, 1 per cent copper, 1.57g/t gold from 395m.

“As anticipated, Mallee Bull is now delivering the broad high-grade copper intercepts we saw historically, with MBDD048 and MBDD052 yielding very impressive chalcopyrite-rich intersections,” Peel Mining managing director Rob Tyson said in the company’s ASX announcement.

“In addition, and as foreshadowed, the very high-grade zinc-lead-silver mineralisation seen in MBDD046 has now been repeated in nearby drillholes MBDD048 and MBDD051, substantiating the likely presence of a new, economically important, zinc-lead-silver lens.

“Drilling at Mallee Bull continues to advance well with approx. 75 per cent of the original resource definition program now completed.

“A review of drilling is currently underway seeking to optimise the resource upgrade outcome in anticipation of study work in the new year.

“Further results are anticipated to be received in the coming weeks.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@peelmining.com.au

 

Web: www.peelmining.com.au

 

Peel Mining Reports Big Copper Intercepts at Wirlong Deposit

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THE DRILL SERGEANT: Peel Mining (ASX: PEX) reported high-grade copper-mineralised intercepts from ongoing drilling underway at the company’s 100 per cent-owned Wirlong copper deposit.

The Wirlong deposit is part of Peel Mining’s South Cobar project near Cobar in Western New South Wales where the company is drilling to advance deposits to mineable resources in order to achieve critical mass in support of a new substantial centrally located processing plant.

Wirlong also represents a core part of the company’s focus on advancing its copper resources.

Latest assays received from the drilling have confirmed further very high-grade copper intercepts at the Wirlong copper deposit with new results including:

WLDD013
153 metres at 0.98 per cent copper, 3 grams per tonne silver Ag from 239m, including 45m at 2.19 per cent copper, 7g/t silver from 333m, including 24.4m at 3.68 per cent copper, 11g/t silver from 350m.

WLDD011
4m at 3.15 per cent copper, 13g/t silver from 81m; and
98m at 1.43 per cent copper, 5g/t silver from 261m, including 52m at 2.3 per cent copper, 8g/t silver from 296m, including 28m at 3.62 per cent copper, 12g/t silver from 306m.

Peel Mining indicated further zones of strong copper mineralisation have been visible in recent drilling.

The company has sampling continuing with assays pending for multiple drillholes with visible sulphide mineralisation.

“The latest drilling adds further confidence to the continuity of high-grade copper mineralisation at Wirlong, the primary target of our resource definition drilling program,” Peel Mining managing director Rob Tyson said in the company’s ASX announcement.

“Of significance is the broad halo of stockwork chalcopyrite mineralisation that we continue to encounter within many of our drillholes pointing to the greater metal endowment of the Wirlong mineral system.

“We believe that the Wirlong Central Zone represents the intersection of N-S and NW-SE striking structures, providing controls on the position of high-grade mineralisation, a structural setting analogous to the world class CSA Copper Mine.

“Once again, we look forward to reporting further significant intercepts in due course.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@peelmining.com.au

 

Web: www.peelmining.com.au

 

Peel Mining Encounters More Copper Hits at Wirlong

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THE DRILL SERGEANT: Peel Mining (ASX: PEX) informed of recent resource definition drilling at the company’s 100 per cent-owned Wirlong deposit in New South Wales.

Peel Mining reported the drilling returned further broad and high-grade copper-mineralised intercepts, including:

WLRC083
42 metres and 1.26 per cent copper, 5 grams per tonne silver from 258m to end of hole, including 9m and 4.1 per cent copper, 15g/t silver from 270m; and
26m and 0.58 per cent copper, 5g/t silver from 122m;
2m and 2.17 per cent copper, 22g/t silver from 206m; and
24m and 0.54 per cent copper, 2g/t silver from 222m;

WLRC087
2m and 1.11 per cent copper, 13g/t silver from 262m

WLDD006
3.61m and 3.12 per cent copper, 25g/t silver from 165m;
3m and 0.67 per cent copper, 10g/t silver from 213m;
5m and 2.84 per cent copper, 10g/t silver from 291m; and
11m and 0.88 per cent copper, 5g/t silver from 333m, including 4m and 1.67 per cent copper, 6g/t silver from 340m;

WLDD007
4m and 1.7 per cent copper, 6g/t silver from 255m; and

WLDD008
10m and 2.09 per cent copper, 8g/t silver from 193m.

Wirlong is part of Peel’s South Cobar project in NSW where drilling has been undertaken as part of the company’s ‘Hub & Spoke’, which aims to advance each of the deposits to mineable resources, to achieve critical mass in support of a new substantial centrally located processing plant.

Drilling at Wirlong has been designed to test the upper ~300m of the Wirlong Central Zone where high-grade copper (chalcopyrite) mineralisation has been interpreted to be structurally controlled on a NW-SE orientation.

Peel Mining said the recently returned assays results confirm healthy copper mineralisation in multiple drillholes, including broad mineralised zones (with higher-grade internal zones) and narrower mineralised zones including high-grade mineralisation.

The current results support earlier drillholes that intersected substantial chalcopyrite-dominant sulphide mineralisation over significant downhole widths.

“Wirlong keeps producing excellent copper hits and, encouragingly, is indicating good vertical spatial continuity between intercepts – underlining this is drillhole WLRC083 which is positioned approximately 90 metres above from WLRC073 and has returned a broad interval of copper mineralisation to end of hole including a significant very high-grade interval,” Peel Mining managing director Rob Tyson said.

“The recent switch to diamond drilling provides additional valuable information to assist with our structural and geological modeling as well as material for metallurgical testwork.

Once again, these results, coupled with the visuals and XRF analyses for drillholes still to be reported, assist in our goal of defining a high-grade maiden copper resource at Wirlong.”

 

 

Email: info@peelmining.com.au

 

Web: www.peelmining.com.au