Peel is just beginning at Wirlong high-grade copper deposit
If the stream of high-grade results was not a sufficient clue, Peel has now unveiled a soft, high-grade resource for the Wirlong deposit at its South Cobar project in New South Wales.
The first indicated and inferred resource of 2.45 million tonnes grading 2.4% copper and 8.7 grams per tonne (g / t) silver, or 57,900 t of contained copper and 686,000 ounces of silver content, is contained in five lenses, the MBX lens accounting for more than half of the resource.
And that’s just the start for Peel Mining (ASX: PEX).
Wirlong remains open along strike and dip, particularly to the southeast where recent drilling has revealed a 205 m thick intersection grading 1.4% copper and 3 g / t silver at a depth of 434 mr.
It is also added to the Mallee Bull resource (the other South Cobar deposit) of 6.76 Mt at 1.8% copper, 31 g / t silver, 0.4 g / t gold. , 0.6% lead and 0.6% zinc, itself liable to be upgraded. before the end of 2021.
“We are very pleased to provide a first high-grade copper resource for Wirlong, further strengthening Peel’s global resources in the Cobar Basin, and in particular the company’s copper-focused strategy,” said the managing director Rob Tyson.
“The strong copper mineralization contained in the main MBX lens provided a solid foundation for the MRE, housing approximately 69% of the MRE containing copper, while the other lenses highlight the vast copper endowment and clear potential for growth. by Wirlong.
“This TRA is an excellent foundation, and it is anticipated that ongoing infill and extension drilling will enhance and expand this copper rich mineral system.”
Peel was first drawn to Wirlong by the presence of historic copper deposits, a topographic anticyclone, a phased array geochemical anomaly of over 2 km, and magnetic, radiometric, gravity, IP and electromagnetic anomalies. coincident or semi-coincident.
Exploration drilling in early 2015 returned significant primary copper mineralization that was reinforced later that year by follow-up drilling that produced strong copper occurrences.
Drilling of the Company’s resources to date has focused on a relatively small area spanning approximately 350 m in direction in the larger area of ââinterest.
Infill and extension drilling is underway with assays pending for 20 drill holes.
This article was developed in collaboration with Peel Mining, a Stockhead advertiser at the time of publication.
This article is not advice on financial products. You should consider getting independent advice before making any financial decisions.