- Peel Mining (PEX) intersects further high-grade copper, zinc, lead and silver mineralisation at its Mallee Bull copper deposit in NSW
- Drilling forms part of Peel’s copper first strategy which is focusing on advancing the Mallee Bull and Wirlong deposits as a priority
- Overall, grades peaked at 4.33 per cent copper, 109g/t silver, 16.82 per cent zinc, 17.67 per cent lead and 1.57g/t gold
- A review of resource drilling is also underway and Peel expects to deliver a Mallee Bull resource update around the end of the year
- Peel ends the day 4.17 per cent in the green with shares trading at 25 cents
Peel Mining (PEX) has intersected further high-grade copper, zinc, lead and silver mineralisation at its Mallee Bull copper deposit.
The Mallee Bull deposit lies within Peel’s South Cobar Project which is situated roughly 100 kilometres south of Cobar in NSW.
Drilling forms part of Peel’s copper first strategy which is focusing on advancing the Mallee Bull and Wirlong deposits as a priority.
These new results are continuing to return visibly significant zones of copper and zinc-lead mineralisation.
Best results include 4.41 metres at 16.82 per cent zinc, 17.67 per cent lead, 109 grams of silver per tonne (g/t), 0.45 per cent copper and 0.98g/t gold.
Processing and assaying is continuing with further results expected in the upcoming weeks.
Drilling is progressing well with around 75 per cent of the drilling program now completed.
A review of resource drilling is also underway and Peel expects to deliver a Mallee Bull resource update around the end of the year.
Managing Director Rob Tyson commented on the results snd future drilling programs.
“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,” Mr Tyson said.
“Drilling at Mallee Bull continues to advance well with 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.”
Peel has ended the day 4.17 per cent in the green with shares trading at 25 cents in a $100.3 million market cap.