Peel Mining (ASX:PEX) - Managing Director, Rob Tyson
Managing Director, Rob Tyson
Source: Resources Roadhouse [YouTube]
Market Herald logo


Be the first with the news that moves the market
  • Peel Mining (PEX) has received more encouraging copper results from drilling at its Wirlong deposit which is part of the South Cobar Project in NSW
  • Resource definition drilling is testing the upper 300-metre section of the Wirlong Central Zone for high-grade copper mineralisation
  • The latest results include copper and silver grades of up to 4.1 per cent and 22g/t, respectively
  • The 15,000-metre drilling program is ongoing and expected to wrap up in the June quarter
  • Peel Mining ended Thursday’s session a slight 2 per cent in the green to close at 25.5 cents

Peel Mining (PEX) has announced more high-grade copper intercepts from its South Cobar Project in western New South Wales.

A resource definition drilling program is targeting the Wirlong deposit to test the upper 300 metres of the Wirlong Central Zone where high-grade copper mineralisation is present.

Pleasingly, the latest results have returned strong copper intercepts including 42 metres at 1.26 per cent copper, 5g/t silver from 258 metres including nine metres at 4.1 per cent copper, 15g/t silver from 270 metres, and 3.61 metres at 3.12 per cent copper, 25g/t silver from 165 metres.

These build on previous high-grade copper results which include 15 metres at 3.8 per cent copper, 17g/t silver, 0.04g/t gold from 255 metres including six metres at 8.64 per cent copper, 37g/t silver, 0.11g/t gold from 255 metres.

“Wirlong keeps producing excellent copper hits and, encouragingly, is indicating good vertical spatial continuity between intercepts,” Managing Director Rob Tyson said.

“These results, coupled with the visuals and XRF analyses for drillholes still to be reported, assist in our goal of defining a high-grade maiden copper resource at Wirlong,” Rob added.

Up to 15,000 metres of drilling is being undertaken and the program is expected to wrap up in the June quarter.

Peel Mining ended Thursday’s session a slight 2 per cent in the green to close at 25.5 cents.

PEX by the numbers
More From The Market Herald

" Tulla Resources (ASX:TUL) eyes off-take and funding deal with Koch Metals

Tulla Resources (ASX:TUL) has signed a heads of agreement with Koch Metals for an ion ore…

" Nova Minerals (ASX:NVA) progresses Estelle over December quarter

Nova Minerals (ASX:NVA) had a busy December quarter, including boosting the total gold estimate at its…

" Mount Gibson Iron (ASX:MGX) reports lower cash and investments of $142 million

Mount Gibson Iron (ASX:MGX) reports lower cash and investments of $142 million in its quarterly report,…

" Australian Gold and Copper (ASX:AGC) hits sulphides at Boxdale, moves to test Carlisle Reefs

Australian Gold and Copper (ASX:AGC) hits zones of sulphides at the Boxdale target within the Moorefield…