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Peel Mining Ltd.
Summary
| Project: | Cobar Superbasin | |
|---|---|---|
| Deposit: | Wirlong | |
| Location: | Australia | |
| Commodities: | Copper-Lead-Zinc-Silver-Gold | |
| Date: | 4/11/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 11-4-2017: Peel Mining Ltd. announces an Exploration/Drilling Update report for its Wirlong deposit at the Cobar Superbasin project. Drilling results incl. 17m @ 8g/t Ag, 4.59% Cu from 738m. Peel Mining (ASX:PEX) (“Peel”, “the Company”) is pleased to conf | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Rob Tyson (Internal) | |
| ABSTRACT: | Peel Mining (ASX:PEX) (“Peel”, “the Company”) is pleased to confirm the best copper intercept reported to date at its 60%-owned Wirlong prospect near Cobar in western NSW. The intercept of 17m @ 4.59% Cu and 8g/t Ag from 738m was returned from drillhole WLRRCDD043 and has extended the down-dip continuity of strong copper mineralisation at Wirlong to ~600m below surface. Drillhole WLRCDD043 intersected very strong copper mineralisation comprising 17m @ 4.59% Cu, 8 g/t Ag from 738m, extending the down-dip continuity of strong copper mineralisation to ~600m below surface. Significant assay intervals for WLRCDD043 are included in Table 2 below. The true width of mineralisation is interpreted to be ~14m. Logging and assaying of the mineralisation shows very pure chalcopyrite with only minor accessory pyrrhotite and pyrite sulphides. Significantly, a substantial “offhole” downhole electromagnetic geophysical anomaly centred north of WLRCDD043 points to possible extensions to substantial copper mineralisation. The encouraging indications from WLRCDD043 prompted the decision to drill another hole, WLRCDD044, testing downdip from WLRCDD043, which is continuing at the time of reporting. The recent drilling at Wirlong is part of ongoing investigations into the potential for Peel’s NSW tenure to host Cobar-style deposits. Cobar-style deposits are renowned for vertical continuity of mineralisation. Australia’s highest grade copper mine, the CSA mine, is an example of a Cobar-style deposit, showing strong vertical development of mineralisation to more ~2,000m below surface. CSA has produced over one million tonnes of copper since commencement of modern mining in ~1965. Whilst substantively more investigation is required, indications of a Cobar-style analogue for Wirlong are promising. | |
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