MALLEE BULL RETURNS MORE HIGH-GRADE COPPER
New high-grade copper mineralisation intersected at the Mallee Bull Greenfield discovery; shallowest and deepest intercepts to date
· Latest assays return further high-grade copper-dominant polymetallic mineralisation from several drillholes; further assays pending.
· Better assays include:
o 4MRC024 - 10m @ 2.89% CuEq* (2.22% Cu, 33 g/t Ag, 0.44g/t Au) from 174m; and
o 4MRCDD008 - 4m @ 2.97% CuEq* (1.98% Cu, 45 g/t Ag, 0.72 g/t Au) from 358m
· High-grade copper dominant mineralisation now intercepted as shallow as ~150m below surface, as deep as ~310m below surface, and open at depth.
· Strike of mineralisation at least 120m.
Perth-based explorer Peel Mining Limited (ASX: PEX) is pleased to report that follow-up RC/diamond drilling at the Mallee Bull prospect (previously known as 4-Mile), part of its 100%-owned May Day-Gilgunnia Project located about 100km south of Cobar in NSW, has intersected additional new high-grade Cobar-style polymetallic mineralisation.
The results continue to confirm that Mallee Bull is host to high-grade copper-dominant mineralisation, and importantly, that the mineralising system is open at depth.
The Mallee Bull prospect, which was initially identified in early 2011 as a coincident electro-magnetic and magnetic geophysical anomaly, is located within the historic 4-Mile goldfield. Multiple phases of exploratory drilling culminated in the discovery of high-grade Cobar-style mineralisation in August 2011.