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Peel Mining Ltd.
Summary
| Project: | Cobar Superbasin | |
|---|---|---|
| Deposit: | Wirlong, Sandy Creek | |
| Location: | Australia | |
| Commodities: | Gold-Silver-Copper-Lead-Zinc | |
| Date: | 10/31/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 31-10-2019: Peel Mining Ltd. announces an Exploration/Drilling Update report for its Wirlong, Sandy Creek deposit at the Cobar Superbasin project. Drilling results incl. 51m @ 1.54% Zn, 0.37% Pb, 0.06% Cu, 2g/t Ag, 0.01g/t Au from 53m. During the quarter, | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Rob Tyson (Internal) | |
| ABSTRACT: | During the quarter, Peel undertook a review of the Company’s strategy. The review is focused on monetising the Mallee Bull and Southern Nights-Wagga Tank prospects. Following the July 2019 release of a maiden Mineral Resource Estimate at Wagga Tank-Southern Nights (WTSN), Peel commenced internal scoping/options studies on WTSN and Mallee Bull. The studies, which remain ongoing, examine multiple potential development scenarios, including the use of third-party processing routes. Whilst the studies are of a high-level only, they clearly highlight the potential for a combined WTSN-Mallee Bull project to offer a critical mass of mining inventory to support a new processing hub in the Southern Cobar Basin. Of significance, in July 2019 CBH Resources announced the pending closure of its Endeavor Mine, which is located ~40km northwest of Cobar, indicating that the mine could be on care and maintenance by the end of 2019. CBH have since initiated a sale process for the Endeavor Mine. Mallee Bull and Southern Nights-Wagga Tank are located approximately 165km and 200km respectively from the Endeavor Mine. The Company is currently in discussion with CBH Resources/Toho Zinc to further develop the Mallee Bull Project | |
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