Assays from resource definition diamond drilling at Peel Mining’s (ASX: PEX) Mallee Bull deposit within the South Cobar project in New South Wales have delivered strong, high-grade copper results.
Drilling commenced in April last year and was designed to infill existing inferred resources and confirm the deposit’s resource model.
The results have highlighted the “outstanding grade and continuity” of copper mineralisation, with best intercepts of 29.15m at 7.08% copper, 60 grams per tonne silver and 0.24g/t gold from 509.69m; 29.9m at 6.52% copper, 110g/t silver and 0.15g/t gold from 635.1m; 15m at 2.11% copper, 34g/t silver and 0.16g/t gold from 497m; and 31.07m at 5.29% copper, 44g/t silver and 0.27g/t gold from 524m.
Other highlights were 39m at 3.93% copper, 30g/t silver and 0.29g/t gold from 524m; 34.54m at 4.08% copper, 43g/t silver and 0.08g/t gold from 654m; 34.55m at 3.04% copper, 28g/t silver and 0.14g/t gold from 544.11m; 22m at 3.71% copper, 40g/t silver and 0.15g/t gold from 446m; 29m at 1.59% copper, 22g/t silver and 0.14g/t gold from 482m; and 36.95m at 2.55% copper, 23g/t silver and 0.14g/t gold from 460.05m.
Peel said the assays are a positive for Mallee Bull’s resource categorisation, as 5.4 million tonnes out of 6.76Mt (or 80%) is currently classified as inferred.
The Mallee Bull deposit is considered the cornerstone of Peel’s strategy to advance the South Cobar project.
A total of 33,545m and 64 holes have been drilled to date, with final extensional drill holes expected to be completed shortly when rigs relocate to the Wirlong target.
Completion of a recent resources review highlighted the potential for significant growth at Wirlong and the findings will be fed into drill planning and design for the upcoming work.
A 2017 resource estimate for Mallee Bull comprised 6.76 million tonnes at 1.8% copper, 31g/t silver, 0.4g/t gold, 0.6% lead and 0.6% zinc (2.6% copper equivalent) for approximately 119,000t copper, 6.6Moz silver, 83,000oz gold, 38,000t lead and 38,000t zinc (using a 1% copper equivalent cut-off).