Peel Mining (ASX:PEX) reports it has found more ‘high-grade’ copper results from diamond drilling at the Wirlong Prospect, located within the South Cobar Project in New South Wales.
Diamond drilling at Wirlong began in April this year, and since then the company has completed 38 drillholes for around 20,813m utilising 3 drill rigs.
The current phase of drilling was completed in September with assays returned for 22 drillholes and Peel says results for a further 16 holes are still pending.
‘High-grade’ intercepts recorded by the company include 16m @ 3.01% Cu and 5g/t Ag from 613m in WLDD060W1; 7m @ 1.51% Cu and 4g/t Ag from 480m including 11m @ 1% Cu and 3g/t Ag from 499m in WLDD060W2; and 14m @ 1.16% Cu and 9g/t Ag from 264m including 48m @ 1.4% Cu and 2g/t Ag from 573m in WLDD061.
Peel Mining CEO Jim Simpson said the latest phase of infill and extensional drilling at Wirlong has now concluded, allowing the company to progress to an updated resource for the South Cobar Project.
“Results to date confirm the quality of the Wirlong copper deposit and that Wirlong will be a significant component of our South Cobar Project.
“Results to date confirm the quality of the Wirlong copper deposit and that Wirlong will be a significant component of our South Cobar Project”
The significance of the infill drilling should not be understated as it has improved our confidence and understanding of the structural controls and geometry of mineralisation.
The completion of this drilling also allows us to move to exploration decline design and permitting with greater confidence.”
Peel reports once all the assays have been received, the results along with the results from earlier drilling at the Mallee Bull Prospect will be incorporated into the resource update for the South Cobar Project.
The 2021 maiden resource estimate for Wirlong is 2.4% Cu and 8.7g/t Ag for 57,900t of contained Cu and 686,000oz of contained Ag.
Peel Mining is a base and precious metals exploration company focused on copper at the South Cobar Project.
The South Cobar Project comprises the Wirlong Prospect, the Mallee Bull Prospect, the May Day Prospect, and the Southern Nights and Wagga Tank Prospect.
Images: Peel Mining Ltd & iStock