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Peel Mining Ltd.
Summary
| Project: | Mallee Bull | |
|---|---|---|
| Deposit: | Mallee Bull North | |
| Location: | Australia | |
| Commodities: | Silver-Gold-Copper-Lead-Zinc | |
| Date: | 9/9/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 9-9-2016: Peel Mining Ltd. announces an Exploration/Drilling Update report for its Mallee Bull North deposit at the Mallee Bull project. Drilling results incl. 9m @ 2.24% Cu, 27g/t Ag, 0.27g/t Au from 455m. Peel Mining is pleased to announce that recent d | |
| Resources: | (Resource): 3.9Mt @ 2.3% Cu, 32g/t Ag, 0.3g/t Au | |
| CP/QP: | [Overall Report]: Rob Tyson (Internal) | |
| ABSTRACT: | Peel Mining is pleased to announce that recent drilling at its Mallee Bull project, near Cobar in Western NSW, has returned significant new copper-dominant mineralisation. The drilling was designed to test an offhole DHEM anomaly centred ~300m north of Mallee Bull and is part of investigations to test for new mineralisation. The programme is anticipated to encompass up to 6,000m of RC and diamond drilling. The Mallee Bull North area was identified following a review of historic DHEM surveys adjacent to the area of interest. Mallee Bull North covers an area of stratigraphic continuity from the main Mallee Bull resource area. The current drill programme has focussed on broader step-out drilling at Mallee Bull North and to date has encompassed 8 drillholes. Assay results from the first 2 drillholes (MBRC054 and MBRC055) confirmed that the conductor responsible for the EM anomaly is caused by significant copper mineralisation. Drillhole MBRC054 returned 7m @ 2.01% Cu, 37 g/t Ag, 0.15 g/t Au from 324m whilst drillhole MBRC055, positioned ~80m north of MBRC054, returned 9m @ 2.24% Cu, 27 g/t Ag, 0.27 g/t Au from 455m. Mineralisation intersected to date comprises stringer/breccia style quartz-sulphide (chalcopyrite-pyrrhotite) mineralisation with the true width of mineralisation thought to be ~60% of the downhole intervals. | |
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