Peel Mining Ltd (ASX: PEX) has unveiled a maiden Indicated and Inferred Mineral Resource Estimate for its 100% owned Wirlong copper deposit located ~70km SSE of Cobar in Western NSW.
The Maiden Indicated and Inferred Mineral Resource Estimate (MRE) for Wirlong delivers 2.45Mt @ 2.4% Cu, 8.7g/t Ag for 57,900t contained copper and 686,000oz contained silver
Managing Director, Rob Tyson, said the MRE provides Peel with further foundation to its copper first development strategy, adding further copper-rich resources to Peel’s high-grade Mallee Bull copper deposit.
“We are very pleased to deliver a maiden high-grade copper resource for Wirlong, further bolstering Peel’s Cobar Basin global resources, and particularly the company’s copper first strategy,” Mr Tyson said.
“The strong copper mineralisation hosted within the main MBX lens has provided a solid base for the MRE, hosting around 69% of the MRE’s contained copper, while the other lenses highlight the widespread copper endowment and the clear potential for Wirlong to grow.
“This MRE is an excellent foundation, and it is anticipated that ongoing infill and extensional drilling will improve and expand this copper-rich mineral system.”
An Indicated and Inferred MRE of 2.45Mt @ 2.4% Cu and 8.7g/t Ag has been constrained and reported within AU$90/t NSR mineable shapes.
Significantly, 860Kt @ 2.3% Cu and 9.1 g/t Ag of Indicated classified MRE has been constrained and reported within A$90/t NSR mineable shapes, accounting for ~35% of the MRE tonnes and ~34% of contained Cu metal.
Thw Wirlong Indicated & Inferred MRE is the product of 41,612m of RC and diamond drilling completed by Peel since 2014. The bulk (~79%) of that drilling has been focused on the high-grade MBX (Massive Breccia Mineralisation) lens following its recognition in late 2018.
The MRE has been completed by independent mining consultant Mr Jonathon Abbott of MPR Geological Consultants Pty Ltd (MPR).
Wirlong is located within Peel’s 100%-owned EL8307 and EL8126. Peel was initially drawn to the area by the presence of historic copper workings, a topographic high, a >2km multi-element surface geochemical anomaly and coincident or semi-coincident magnetic (>3km), radiometric, gravity, IP and electromagnetic anomalies.
Exploratory drilling at Wirlong in early 2015 identified significant primary copper mineralisation with follow-up drilling in late 2015 yielding strong copper mineralisation and confirming the potential of the prospect. Mineral Resource Estimate drilling to date has focused on a relatively confined zone covering ~350m of strike of the greater prospect area.
Higher grade intervals from recently reported drillhole WLDD040 were included in the MRE, however the influence of this mineralisation was moderated by its relative location on the edge of the block model.
The Wirlong mineral system remains open along strike and down dip of the MRE study area and infill and extensional drilling remains ongoing at the time of reporting, with further processing of core and assay results pending for 20 drillholes. Results from drilling received beyond that included in the MRE will inform subsequent MRE updates as Wirlong continues to evolve.
For further information please visit: https://www.peelmining.com.au/
