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Peel Mining Ltd.
Summary
| Project: | Cobar Superbasin | |
|---|---|---|
| Deposit: | Wirlong | |
| Location: | Australia | |
| Commodities: | Copper-Lead-Zinc-Silver-Gold | |
| Date: | 8/7/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 7-8-2017: Peel Mining Ltd. announces an Exploration/Drilling Update report for its Wirlong deposit at the Cobar Superbasin project. JV with JOGMEC - Drilling results incl. 27m @ 5.3% Cu, 23g/t Ag from 286m. Peel Mining (ASX:PEX) (“Peel” or the “Company”) | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Rob Tyson (Internal) | |
| ABSTRACT: | Peel Mining (ASX:PEX) (“Peel” or the “Company”) is pleased to report further encouraging drill results from the Company’s 60%-owned Wirlong prospect located near Cobar in western NSW, where ongoing drilling is aimed at better defining and extending the known footprint of significant copper mineralisation. Wirlong bears the hallmarks of a Cobar-style deposit, with many similarities to Glencore’s CSA copper mine. Drilling at Wirlong continues to identify significant copper mineralisation and, as recently foreshadowed, drillholes WLRC026 and WLRC052 returned very strong chalcopyrite-dominant drill intercepts. Assay results from WLRC026 have now been received with the tenor of copper mineralisation substantially higher than initially indicated by portable XRF (pXRF) analyser. WLRC026 returned 27m @ 5.3% Cu, 23 g/t Ag from 286m (versus 26m @ 2.89% Cu from 287m in pXRF), representing the most significant drill result at Wirlong to date. Mineralisation comprises massive/semi-massive/stringer/disseminated chalcopyrite-dominant sulphides. WLRC026 was extended from 277m to 350m, following recognition of potential beyond prior end-of-hole. Recent drilling results indicate that the Wirlong copper system is structurally dislocated and possibly constitutes a series of stacked, short-strike length, shoot-like structures. This is a typical feature of Cobar-style mineralisation and deposits. The true width remains unknown at this point, however it is considered likely that mineralisation is sub-vertical in nature, therefore true widths would be approximately 60-80% of downhole widths. | |
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