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Peel Mining Ltd.
Summary
| Project: | Mallee Bull | |
|---|---|---|
| Deposit: | Mallee Bull North | |
| Location: | Australia | |
| Commodities: | Silver-Gold-Copper-Lead-Zinc | |
| Date: | 10/28/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 28-10-2016: Peel Mining Ltd. announces an Exploration/Drilling Update report for its Mallee Bull North deposit at the Mallee Bull project. Drilling results incl. 7m @ 1.28% Cu, 16g/t Ag, 1.89g/t Au from 371m. Peel Mining (ASX:PEX) Ltd advises that recent | |
| Resources: | (Resource): 3.9Mt @ 2.3% Cu, 32g/t Ag, 0.3g/t Au | |
| CP/QP: | [Overall Report]: Rob Tyson (Internal) | |
| ABSTRACT: | Peel Mining (ASX:PEX) Ltd advises that recent drilling at its 50%-owned Mallee Bull and 100%-owned Wagga Tank projects, near Cobar in western NSW, has returned significant new base metal mineralised drill intercepts. At Mallee Bull, drilling designed to further test recently discovered mineralisation at Mallee Bull North returned new copper-dominant intercepts. At Wagga Tank, drilling designed to confirm historic high-grade mineralisation has returned significant zinc-lead-silver sulphide and copper oxide/sulphide intercepts. Assays for Wagga Tank drillholes WTRC001-004 are pending. Drilling at Mallee Bull was designed to test recently discovered mineralisation at Mallee Bull North (centred ~300m north of Mallee Bull) and is part of investigations to find new mineralisation. The total programme is anticipated to encompass up to 7,000m of RC and diamond drilling with 11 drillholes for 3,687m RC and 1,680.5m diamond drilling completed to date. The Mallee Bull North area was identified following a review of 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 programme of work has focussed on broader step-out drilling and to date has encompassed 8 drillholes at Mallee Bull North. Drill results confirm that the conductor responsible for the EM anomaly is caused by significant copper mineralisation. Mineralisation is hosted in the Shume Formation turbidite sediments (mudstone to sandstone) with sulphides predominantly occurring as chalcopyrite-pyrrhotite-quartz breccias and stringers. The geometry of mineralisation is interpreted to be near vertical, however some intercepts appear to be steeply dipping to the east. The true width of mineralisation varies but is generally interpreted to be ~60% of downhole widths. Peel is encouraged by the discovery of new mineralisation at Mallee Bull North with mineralisation remaining open along strike and down dip. Geophysics indicates good potential to grow mineralisation in this area and along strike. | |
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