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Peel Mining Ltd.
Summary
| Project: | Apollo Hill | |
|---|---|---|
| Deposit: | Apollo Hill | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 9/18/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 18-9-2017: Peel Mining Ltd. announces a Resource Estimation report for its Apollo Hill deposit at the Apollo Hill project. Updated mineral resource estimate confirms estimate from 2011.. In anticipation of Peel Mining Ltd’s (“Peel” or “the Company”) plans | |
| Resources: | (Resource, Inf.): 17.2Mt @ 0.9g/t Au for 505000oz Au contained | |
| CP/QP: | [Resources]: Jonathan Abbott (MPR Geological Consultants Pty Ltd.) | |
| ABSTRACT: | In anticipation of Peel Mining Ltd’s (“Peel” or “the Company”) plans to vend its 100%-owned Apollo Hill Gold Project into Saturn Metals Limited (Saturn), and list the subsidiary on the ASX via an initial public offering (Public Offer), the Company advises that the Apollo Hill Mineral Resource estimate has been updated to comply with the 2012 version of the JORC code. Apollo Hill is located about 50 km south-east of Leonora and comprises a package of mineral tenements covering an area of about 1,000 km2within the highly mineralised North-Eastern Goldfields of Western Australia. The Mineral Resource estimate was previously reported in September of 2011 under the 2004 version of the JORC code (see ASX announcement: “48% Jump in Apollo Hill Gold Resource to 505,000oz”, dated 9th September 2011). There is no difference in the numbers between the versions (see Apollo Hill Resource estimates table below), however the current version has additional background information and disclosure around the Mineral Resource, predominantly contained within the appended “Table 1 – Apollo Hill (JORC Code 2012)”. The Apollo Hill Project (see Figure 1) comprises two deposits, the main Apollo Hill deposit in the north of the project area, and the smaller Ra deposit in the south. Gold mineralisation at the project is associated with quartz veins and carbonate-pyrite alteration along a north-east dipping contact between felsic rocks to the west, and mafic dominated rocks to the east. The combined mineralised zones extend over a strike length of about 1.4 km, and have been intersected by drilling to a maximum depth of about 350m below surface. | |
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