http://www.proactiveinvestors.com.au Proactiveinvestors RSS feed en Tue, 22 Aug 2017 21:05:23 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Peel Mining delivers more high-grade zinc-lead-silver ahead of pre-feasibility study ]]> http://www.proactiveinvestors.com.au/companies/news/182649/peel-mining-delivers-more-high-grade-zinc-lead-silver-ahead-of-pre-feasibility-study-182649.html Peel Mining Ltd's (ASX:PEX) most advanced asset is its Mallee Bull Project, located near Cobar in western New South Wales.

The latest resource definition drilling delivered highlights including: 9 metres at 20.82% zinc, 10.64% lead, 338g/t silver and 1.91g/t gold from 88 metres; and 9 metres at 10.80% zinc, 6.89% lead, 337g/t silver and 0.45g/t gold from 129 metres.

News flow will continue from the project, with metallurgical work continuing, and a pre-feasibility study due for completion in September.

READ: Peel Mining intersects more copper and silver at Wirlong

The study is on the high-grade, near-surface zinc-lead-silver-gold T1 lens.

The aim of the study is to investigate the conceptual development of T1 as a “dig and truck” operation, under which ore would be milled at CBH Resources’ Endeavor mine located 150 kilometres away, where surplus milling capacity exists.

A site visit is to be conducted next week by Peel and 50:50 joint venture partner CBH, with discussions focused on development scenarios and timelines.

Portfolio

Peel’s projects cover more than 5,000 square kilometres across New South Wales and Western Australia.

Projects include:

- Mallee Bull: An advanced copper polymetallic deposit that remains open in many directions;
- Cobar Superbasin: Farm-in agreement that offers funded strategic greenfields exploration potential along with the new Wirlong copper discovery;
- Wagga Tank: A polymetallic VHMS-type deposit with many significant intercepts;
- Apollo Hill: Exploration project that hosts a major, protruding, shear-hosted, gold mineralised system that remains open down dip and along strike; and
- Attunga: A high grade tungsten deposit.

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Fri, 18 Aug 2017 14:56:00 +1000 http://www.proactiveinvestors.com.au/companies/news/182649/peel-mining-delivers-more-high-grade-zinc-lead-silver-ahead-of-pre-feasibility-study-182649.html
<![CDATA[News - Peel Mining intersects more copper and silver at Wirlong ]]> http://www.proactiveinvestors.com.au/companies/news/182027/peel-mining-intersects-more-copper-and-silver-at-wirlong-182027.html Peel Mining (ASX:PEX) has drilled more high grades of copper and silver at its 60%-owned Wirlong prospect within the Cobar Superbasin project located near Cobar in New South Wales.

Intercepts include 27 metres at 5.3% copper, 23 g/t silver from 286 metres.

Ongoing drilling is aimed at better defining and extending the known footprint of significant copper mineralisation.

Wirlong bears the hallmarks of a Cobar-style deposit, with many similarities to Glencore PLC’s (LON:GLEN) CSA copper mine.

Further assays remain pending and are expected.

Drill result details

Drill holes WLRC026 and WLRC052 returned very strong chalcopyrite-dominant drill intercepts.

Assay results from WLRC026 have now been received with the tenor of copper mineralisation substantially higher than initially indicated by portable XRF analyser.

WLRC026 returned 27 metres at 5.3% copper, 23 g/t silver from 286 metres representing the most significant drill result at Wirlong to date.

Preliminary assays from WLRC052 suggest a zone of strong mineralisation, which measured 5 metres at 15.75% copper, 52 g/t silver from 299 metres.

Full assays for WLRC052 remain pending.

Evidence of Cobar-style deposit, widths yet to be known

Recent drilling results indicate that the Wirlong copper system is structurally dislocated and possibly constitutes a series of stacked, short-strike length, shoot-like structures.

This is a typical feature of Cobar-style mineralisation and deposits.

The true width remains unknown at this point, however it is considered likely that mineralisation is sub-vertical in nature, therefore true widths would be circa 60-80% of downhole widths.

Project portfolio

Peel’s projects cover more than 5,000 square kilometres across New South Wales and Western Australia.

Projects include:

- Mallee Bull (50%, NSW): An advanced copper polymetallic deposit that remains open in many directions;
- Cobar Superbasin (60%, NSW): Farm-in agreement that offers funded strategic greenfields exploration potential along with the new Wirlong copper discovery;
- Wagga Tank (100%, NSW): A polymetallic VHMS-type deposit with many significant intercepts;
- Apollo Hill (100%, WA): Exploration project that hosts a major, protruding, shear-hosted, gold mineralised system that remains open down dip and along strike; and
- Attunga (100%, NSW): A high-grade tungsten deposit.

The Mallee Bull, Cobar Superbasin and Wagga Tank projects are all located near Cobar in western New South Wales.

Peel and its joint venture partner JOGMEC remain highly encouraged by results at Wirlong to date, and by the obvious economic potential of its copper system.

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Mon, 07 Aug 2017 13:24:00 +1000 http://www.proactiveinvestors.com.au/companies/news/182027/peel-mining-intersects-more-copper-and-silver-at-wirlong-182027.html
<![CDATA[News - Peel Mining drill results build case for Cobar Basin mining camp ]]> http://www.proactiveinvestors.com.au/companies/news/181102/peel-mining-drill-results-build-case-for-cobar-basin-mining-camp-181102.html Peel Mining (ASX:PEX) continues to receive impressive drilling results across its three core projects near Cobar located in western New South Wales.

Drilling recently finished at the T1 prospect within the Mallee Bull Project, while drilling continues at the Wirlong prospect and Wagga Tank project.

Highlights from the recent assays from T1 infill drilling for pre-feasibility purposes includes 16 metres at 13.52% zinc, 7.61% lead, 191 g/t silver and 1.31 g/t gold from 74 metres.

Preliminary drilling results taken by portable XRF ray guns from Wirlong includes 26 metres at 2.89% copper from 286 metres .

Similar XRF preliminary results from Wagga Tank include 6 metres at 7.37% zinc, 1.81% lead and 10g/t silver from 282 metres.

Official lab assays from drilling at Wirlong and Wagga Tank remain pending.

Project portfolio

Peel’s projects cover more than 5,000 square kilometres across New South Wales and Western Australia.

Projects include:

- Mallee Bull (50%, NSW): An advanced copper polymetallic deposit that remains open in many directions;
- Cobar Superbasin (60%, NSW): Farm-in agreement that offers funded strategic greenfields exploration potential along with the new Wirlong copper discovery;
- Wagga Tank (100%, NSW): A polymetallic VHMS-type deposit with many significant intercepts;
- Apollo Hill (100%, WA): Exploration project that hosts a major, protruding, shear-hosted, gold mineralised system that remains open down dip and along strike; and
- Attunga (100%, NSW): A high-grade tungsten deposit.

The Mallee Bull, Cobar Superbasin and Wagga Tank projects are all located near Cobar in western New South Wales.

Latest drill results from Mallee Bull

Infill drilling from the T1 prospect within the Mallee Bull project has intersected new high-grade zinc-lead-silver mineralisation with better results including:

- 16 metres at 13.52% zinc, 7.61% lead, 191 g/t silver and 1.31 g/t gold from 74 metres;
- 5 metres at 5.47% zinc, 7.63% lead, 102 g/t silver and 0.14 g/t gold from 76 metres;
- 3 metres at 19.79% lead, 53 g/t silver and 0.36 g/t gold from 62 metres;
- 4 metres at 5.64% zinc, 3.29% lead, 52 g/t silver and 0.20 g/t gold from 64 metres; and
- 4 metres at 6.76% lead, 46 g/t silver and 0.53 g/t gold from 62 metres.

Drilling at T1 is now complete with further assays pending.

Metallurgical and geotechnical work is continuing and environmental baseline studies have commenced.

XRF preliminary results promising at Wirlong and Wagga Tank

While official assays remain pending at the Wirlong prospect within the Cobar Superbasin Project and from the Wagga Tank Project, preliminary results have been attained using XRF guns.

At Wirlong, the portable XRF analyser has measured results including:

- 26 metres at 2.89% copper from 286 metres;
- 9 metres at 8.59% copper from 299 metres; and
- 23 metres at 0.82% copper from 179 metres.

At Wagga Tank, the portable XRF analyser has measured results including:

- 6 metres at 7.37% zinc, 1.81% lead, 10 g/t silver from 282 metres.

Building a mining camp starting with T1

The results support Peel’s belief in the potential of its strategic land position in the Cobar Basin and the company’s aim of building a camp of high-grade base and precious metals deposits that can ultimately be developed into mines.

The T1 discovery was made after the original Mallee Bull deposit was drilled out but due to its near-surface position, it is the most likely deposit to enter near-term production.

Peel is currently undertaking a pre-feasibility study on the high-grade, near-surface zinc-lead-silver-gold T1 lens at the Mallee Bull Project.

The aim of the study is to investigate the conceptual development of T1 as a dig-and-truck starter operation, under which ore would be milled at joint venture partner CBH’s Endeavor mine approximately 150 kilometres away, where surplus milling capacity exists.

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Wed, 19 Jul 2017 14:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/181102/peel-mining-drill-results-build-case-for-cobar-basin-mining-camp-181102.html
<![CDATA[News - Peel Mining Ltd swells Mallee Bull resource size ]]> http://www.proactiveinvestors.com.au/companies/news/180424/peel-mining-ltd-swells-mallee-bull-resource-size-180424.html Peel Mining Ltd (ASX:PEX) has increased its JORC resource estimate by 65% to 175,000 tonnes of copper equivalent for the 50% owned Mallee Bull deposit near Cobar, New South Wales.

The updated resource measures 6.76 million tonnes at 1.8% copper, 31 g/t silver, 0.4 g/t gold, 0.6% lead and 0.6% zinc or 2.6% copper equivalent.

This results in contained metals measuring 119,000 tonnes copper, 6.6 million ounces silver, 83,000 ounces gold, 38,000 tonnes zinc and 38,000 tonnes lead.

Rob Tyson, managing director, commented: “The updated mineral resource estimate for Mallee Bull demonstrates the significant exploration success achieved over the last three years.

“This success is highlighted by the addition of lead and zinc mineralisation into the estimate, underpinned by the discovery of near-surface, high-grade zinc-lead-silver mineralisation at T1.

“T1 is now the focus of activity where pre-feasibility work is investigating the potential for an early production opportunity.”


Background

Peel’s projects cover more than 5,000 square kilometres across New South Wales and Western Australia.

Projects include:

- Mallee Bull: An advanced copper polymetallic deposit that remains open in many directions;
- Cobar Superbasin: Farm-in agreement that offers funded strategic greenfields exploration potential along with the new Wirlong copper discovery;
- Wagga Tank: A polymetallic VHMS-type deposit with many significant intercepts;
- Apollo Hill: Exploration project that hosts a major, protruding, shear-hosted, gold mineralised system that remains open down dip and along strike; and
- Attunga: A high grade tungsten deposit.


Mallee Bull

The Mallee Bull project is a 50:50 joint venture with CBH Resources Ltd and is Peel’s most advanced asset.

Since its maiden resource of May 2014, a number of highly mineralised extensional intercepts have been drilled and extensional work programs are continuing at Mallee Bull.

In May 2015, the T1 near-surface high-grade zinc-lead-silver-gold discovery was made.

The T1 target returned shallow, high-grade mineralisation including:

⁻ 12 metres at 35.1% lead-zinc, 308 g/t silver, 1.59 g/t gold from 83 metres;
⁻ 7 metres at 34.1% lead-zinc, 203 g/t silver, 0.58 g/t gold from 71 metres; and
⁻ 10 metres at 23.4% lead-zinc, 322 g/t silver, 1.28 g/t gold from 106 metres.

T1 is defined as massive and stringer sulphide mineralisation, varying from 2-20 metres true thickness, commencing at ~50 metres below surface, extending to at least 120 metres below surface, and with a known strike extent of ~60 metres.

In September 2016, a significant copper intercepts discovered Mallee Bull North, located 300 metres from Mallee Bull.


Analysis

Peel’s focus at Mallee Bull is now firmly set on T1 where pre-feasibility work is investigating the potential for an early production opportunity.

Infill, metallurgical and geotechnical drilling is nearing completion at T1 with assays pending.

Metallurgical test work is continuing, which builds on from the positive flotation test work results received in May.

These early results support Peel’s view that T1 potentially represents an attractive early production opportunity that can be pursued ahead of the main Mallee Bull development.

Peel expects to complete the pre-feasibility study by end September quarter, and provided the findings are positive, will proceed with a definitive feasibility study shortly thereafter.

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Thu, 06 Jul 2017 14:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/180424/peel-mining-ltd-swells-mallee-bull-resource-size-180424.html
<![CDATA[News - Peel Mining extends copper depth at Wirlong ]]> http://www.proactiveinvestors.com.au/companies/news/177897/peel-mining-extends-copper-depth-at-wirlong-177897.html Peel Mining (ASX:PEX) has extended the depth of known copper mineralisation by 350 metres at the 60% owned Wirlong prospect within the Cobar Superbasin project in New South Wales.

Drill hole WLRCDD044 intercepted the host copper mineralising structure at 950 metres below surface confirming nearly one kilometre of mineralisation continuity.

This exploration success builds a stronger case for Wirlong to host a Cobar-style deposit, which are renowned for vertical continuity of mineralisation.

Australia’s highest grade copper mine is an example of a Cobar-style deposit, showing strong vertical development of mineralisation to more than 2,000 metres below surface.

Peel and its joint venture partner JOGMEC have agreed to extend the current work program, commencing with a new drill hole currently underway targeting an off-hole conductor.


Background

Peel’s projects cover more than 5,000 square kilometres across New South Wales and Western Australia.

Projects include:

- Mallee Bull: An advanced copper polymetallic deposit that remains open in many directions;
- Cobar Superbasin: Farm-in agreement that offers funded strategic greenfields exploration potential along with the new Wirlong copper discovery;
- Wagga Tank: A polymetallic VHMS-type deposit with many significant intercepts;
- Apollo Hill: Exploration project that hosts a major, protruding, shear-hosted, gold mineralised system that remains open down dip and along strike; and
- Attunga: A high grade tungsten deposit.


Wagga Tank drilling resumed

Drilling at its 100%-owned Wagga Tank project near Cobar has resumed with a focus on targeting extensions to the known mineralised system.

Peel anticipates an initial program of up to 3,000 metres of reverse circulation and diamond drilling aimed at extending the footprint of mineralisation at Wagga Tank.

First results are anticipated in 6-8 weeks.

The project has been effectively landbanked by majors since last drilling in 1989.

42 historical drill holes included highlights of:

- 32 metres at 3.00 g/t gold, 24 g/t silver from 10 metres;
- 20 metres at 3.11 g/t gold, 63 g/t silver from 28 metres;
- 25.9 metres at 8.74% zinc, 3.39% lead, 82 g/t silver from 141.6 metres;
- 15.7 metres at 10.39% zinc, 4.43% lead, 69 g/t silver from 215.6 metres;
- 24 metres at 2.73% copper, 0.56 g/t gold, 13 g/t silver from 86 metres; and
- 20.3 metres at 2.17% copper, 0.76 g/t gold, 9 g/t silver from 184.4 metres.

Peel’s maiden 18-drillhole program targeting primary mineralisation confirms historical data and 7 holes require extension.

Highlights included:

- 12 metres at 3.09% copper, 97 g/t silver, 1.36 g/t gold from 92 metres;
- 8 metres at 8.54% zinc, 6.20% lead, 134 g/t silver, 1.45% copper from 173 metres;
- 27 metres at 10% zinc, 6.41% lead, 89 g/t silver, 0.42 g/t gold, 0.21% copper from 240 metres;
- 15 metres at 8.5% zinc, 4.11% lead, 114 g/t silver, 1.57 g/t gold, 0.3% copper from 280 metres;
- 17 metres at 2.65 g/t gold, 0.54% copper, 11 g/t silver from 211 metres; and
- 16 metres at 3.27 g/t gold, 0.35% copper, 1.1% zinc, 0.57% lead, 12 g/t silver from 226 metres.

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Wed, 17 May 2017 14:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/177897/peel-mining-extends-copper-depth-at-wirlong-177897.html
<![CDATA[News - Peel Mining hits high grades with met testing hole ]]> http://www.proactiveinvestors.com.au/companies/news/177481/peel-mining-hits-high-grades-with-met-testing-hole-177481.html Peel Mining (ASX:PEX) has received positive flotation test work results using drilled high grade zinc-lead-silver at the 50% owned Mallee Bull deposit near Cobar in New South Wales.

The metallurgical drill hole at Mallee Bull’s T1 lens returned the best zinc-lead-silver intercept to date of 13.5 metres at 21.1% zinc, 14.1% lead and 268 g/t silver from 82 metres.

The positive metallurgy results support Peel’s view that T1 potentially represents an attractive early production opportunity that can be pursued ahead of the main Mallee Bull development.

An infill drilling program at T1 has today commenced comprising circa 27 drill holes for 4,000 metres.

This drilling along with additional metallurgical test work will underpin a prefeasibility study into the potential early development of the T1 lens.


Metallurgy results

The metallurgical flotation test work at T1 represents the first test work focussed on the significant T1 zinc-lead-silver mineralisation.

Preliminary metallurgical results have shown excellent overall metal recoveries of up to 90.3% zinc, 92.3% lead, and 82.3% silver.

The full elemental analysis remains pending, which will include gold mineralisation.

Ongoing flotation test work, particularly with respect to selectivity between lead and zinc, is anticipated to improve on these results.

Gold analysis is to be included in this work. Further results are expected during the current quarter.


Background

Peel’s projects cover more than 5,000 square kilometres across New South Wales and Western Australia.

Projects include:

- Mallee Bull: An advanced copper polymetallic deposit that remains open in many directions;
- Cobar Superbasin: Farm-in agreement that offers funded strategic greenfields exploration potential along with the new Wirlong copper discovery;
- Wagga Tank: A polymetallic VHMS-type deposit with many significant intercepts;
- Apollo Hill: Exploration project that hosts a major, protruding, shear-hosted, gold mineralised system that remains open down dip and along strike; and
- Attunga: A high grade tungsten deposit.


Mallee Bull

The Mallee Bull project is a 50:50 joint venture with CBH Resources Ltd and is Peel’s most advanced asset.

A maiden JORC resource was released in May 2014 of 3.9 million tonnes grading 2.3% copper, 32 g/t silver and 0.3 g/t gold.

Since then, a number of highly mineralised extensional intercepts have been drilled and extensional work programs are continuing at Mallee Bull.

In May 2015, the T1 near-surface high-grade zinc-lead-silver-gold discovery was made.

The T1 target returned shallow, high-grade mineralisation including:

⁻ 12 metres at 35.1% lead-zinc, 308 g/t silver, 1.59 g/t gold from 83 metres;
⁻ 7 metres at 34.1% lead-zinc, 203 g/t silver, 0.58 g/t gold from 71 metres; and
⁻ 10 metres at 23.4% lead-zinc, 322 g/t silver, 1.28 g/t gold from 106 metres.

T1 is defined as massive and stringer sulphide mineralisation, varying from 2-20 metres true thickness, commencing at ~50 metres below surface, extending to at least 120 metres below surface, and with a known strike extent of ~60 metres.

In September 2016, a significant copper intercepts discovered Mallee Bull North, located 300 metres from Mallee Bull.

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Tue, 09 May 2017 15:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/177481/peel-mining-hits-high-grades-with-met-testing-hole-177481.html
<![CDATA[News - Peel Mining receives multi-million dollar investment from gold producer ]]> http://www.proactiveinvestors.com.au/companies/news/175880/peel-mining-receives-multi-million-dollar-investment-from-gold-producer-175880.html Peel Mining (ASX:PEX) has revealed that ASX gold producer St Barbara (ASX:SBM) has taken a 9.5% stake in the company by subscribing for $3.28 million worth of placement shares.

The placement shares will be issued at $0.205 and increase Peel’s net cash position to more than $5.3 million.

The funds raised via the placement will allow for the acceleration of upcoming work programs including further drilling at Peel’s 100%-owned Wagga Tank VMS prospect.

Drilling at Wagga Tank is scheduled to recommence in April.

Rob Tyson, managing director, commented: “We are pleased to welcome a company of the calibre of St Barbara to the share register.

“St Barbara’s funding commitment provides further validation of our strong belief in the mineral potential of the Cobar Superbasin.”


Background

Peel’s projects cover more than 5,000 square kilometres across New South Wales and Western Australia.

Projects include:

- Mallee Bull: An advanced copper polymetallic deposit that remains open in many directions;
- Cobar Superbasin: Farm-in agreement that offers funded strategic greenfields exploration potential along with the new Wirlong copper discovery;
- Wagga Tank: A polymetallic VHMS-type deposit with many significant intercepts;
- Apollo Hill: Exploration project that hosts a major, protruding, shear-hosted, gold mineralised system that remains open down dip and along strike; and
- Attunga: A high grade tungsten deposit.


Wagga Tank

Wagga Tank is located 130 kilometres south of Cobar and 50 kilometres from Mallee Bull.

The project has been effectively landbanked by majors since last drilling in 1989.

42 historical drill holes included highlights of:

- 32 metres at 3.00 g/t gold, 24 g/t silver from 10 metres;
- 20 metres at 3.11 g/t gold, 63 g/t silver from 28 metres;
- 25.9 metres at 8.74% zinc, 3.39% lead, 82 g/t silver from 141.6 metres;
- 15.7 metres at 10.39% zinc, 4.43% lead, 69 g/t silver from 215.6 metres;
- 24 metres at 2.73% copper, 0.56 g/t gold, 13 g/t silver from 86 metres; and
- 20.3 metres at 2.17% copper, 0.76 g/t gold, 9 g/t silver from 184.4 metres.

Peel’s maiden 18-drillhole program targeting primary mineralisation confirms historical data and 7 holes require extension.

Highlights included:

- 12 metres at 3.09% copper, 97 g/t silver, 1.36 g/t gold from 92 metres;
- 8 metres at 8.54% zinc, 6.20% lead, 134 g/t silver, 1.45% copper from 173 metres;
- 27 metres at 10% zinc, 6.41% lead, 89 g/t silver, 0.42 g/t gold, 0.21% copper from 240 metres;
- 15 metres at 8.5% zinc, 4.11% lead, 114 g/t silver, 1.57 g/t gold, 0.3% copper from 280 metres;
- 17 metres at 2.65 g/t gold, 0.54% copper, 11 g/t silver from 211 metres; and
- 16 metres at 3.27 g/t gold, 0.35% copper, 1.1% zinc, 0.57% lead, 12 g/t silver from 226 metres.


Analysis

Attracting a company with the profile of St Barbara highlights the value of Peels portfolio of projects.

Significantly, the placement was conducted at a premium to the previous trading price.

Peel will be able to draw on St Barbara’s extensive experience in deep, underground gold mining at Gwalia.

This technical expertise is highly applicable to Cobar-style deposits, which typically show strong vertical continuity.

Peel is entering a busy period of exploration which secures upcoming exploration based news flow for shareholders.

Drilling at Wagga Tank is scheduled to recommence in April. Elsewhere, drilling is continuing at the JOGMEC-funded Wirlong copper discovery, while drilling recommenced last week at the T1 prospect at Mallee Bull targeting very high-grade zinc-lead-silver mineralisation for metallurgical test-work purposes.

Shares are up 26% after being released from their trading halt today.

During March 2017, a drill intersection at Wagga Tank was recognised by RSC Mining and Mineral Exploration as one of its 10 significant global drill results of the month.

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Tue, 04 Apr 2017 11:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/175880/peel-mining-receives-multi-million-dollar-investment-from-gold-producer-175880.html
<![CDATA[News - Peel Mining gets ready to raise ]]> http://www.proactiveinvestors.com.au/companies/news/175790/peel-mining-gets-ready-to-raise-175790.html Peel Mining (ASX:PEX) has been granted a trading halt by the ASX, pending details of a capital raising.

Peel’s projects cover more than 5,000 square kilometres across New South Wales and Western Australia.

The halt will remain in place until the opening of trade on Wednesday 5th April 2017, or earlier if an announcement is made to the market.


Portfolio

- Mallee Bull: An advanced copper polymetallic deposit that remains open in many directions;
- Cobar Superbasin: Farm-in agreement that offers funded strategic greenfields exploration potential along with the new Wirlong copper discovery;
- Wagga Tank: A polymetallic VHMS-type deposit with many significant intercepts;
- Apollo Hill: Exploration project that hosts a major, protruding, shear-hosted, gold mineralised system that remains open down dip and along strike; and
- Attunga: A high grade tungsten deposit.

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Mon, 03 Apr 2017 09:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/175790/peel-mining-gets-ready-to-raise-175790.html
<![CDATA[News - Peel Mining drills out copper extensions at Wirlong ]]> http://www.proactiveinvestors.com.au/companies/news/175110/peel-mining-drills-out-copper-extensions-at-wirlong-175110.html Peel Mining (ASX:PEX) continues to have success drilling at its 60% owned Wirlong copper prospect located within the Cobar Superbasin project in New South Wales.

While assays are still pending, preliminary results from a new drill hole shows down-dip continuity to significant copper mineralisation, from near surface to ~600 metres below surface.

Down-hole electromagnetics undertaken on the recent hole indicates a significant electromagnetic conductor centred to the north of drill hole.

The next drill hole is now underway, which is designed to test down-dip from the recent hole.

Assays for the completed hole are pending and expected in about four weeks.


Drill hole WLRCDD043

Drill hole WLRCDD043 was designed to test for mineralisation at ~600 metres below surface, down dip of previous high-grade intersections including:

- 4.9 metres at 4.3% copper, 13 g/t silver from 402.1 metres and 22 metres at 1.0% copper, 4 g/t silver from 332 metres in WLRCDD015;
- 9 metres at 8.0% copper, 17 g/t silver, 0.21 g/t gold from 616 metres and 38 metres at 1.18% copper, 4 g/t silver from 450 metres in WLDDD001;
- 26 metres at 1.21% copper, 5 g/t silver from 227 metres in WLRCDD024; and
- 9 metres at 3.29% copper, 0.60% zinc, 18 g/t silver from 70 metres in WLRC035.

Significantly, WLRCDD043 intersected strong copper mineralisation, with preliminary logging showing a 16 metres zone from 749 metres comprising chalcopyrite-rich veins/stringers/breccia.

The encouraging initial indications have prompted the decision to drill another hole, WLRCDD044, testing down-dip from WLRCDD043, which is now underway.


Background

Peel’s projects cover more than 5,000 square kilometres across New South Wales and Western Australia.

Projects include:

- Mallee Bull: An advanced copper polymetallic deposit that remains open in many directions;
- Cobar Superbasin: Farm-in agreement that offers funded strategic greenfields exploration potential along with the new Wirlong copper discovery;
- Wagga Tank: A polymetallic VHMS-type deposit with many significant intercepts;
- Apollo Hill: Exploration project that hosts a major, protruding, shear-hosted, gold mineralised system that remains open down dip and along strike; and
- Attunga: A high grade tungsten deposit.


Analysis

These drilling results continue to provide evidence that suggest indications of a Cobar-style deposit at Wirlong.

The recent drilling at Wirlong is part of ongoing investigations into the potential to host Cobar-style deposits, which are renowned for vertical continuity of mineralisation.

Australia’s highest grade copper mine, is an example of a Cobar-style deposit, showing strong vertical development of mineralisation to more than 2,000 metres below surface.

The mine has produced over one million tonnes of copper since commencement of modern mining around 1965.

Whilst substantively more investigation is required, indications of a Cobar-style analogue for Wirlong are promising.

Peel shares are up over 25% year to date, currently trading at $0.22.

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Tue, 21 Mar 2017 13:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/175110/peel-mining-drills-out-copper-extensions-at-wirlong-175110.html
<![CDATA[News - Peel Mining to reveal exploration update ]]> http://www.proactiveinvestors.com.au/companies/news/175031/peel-mining-to-reveal-exploration-update-175031.html Peel Mining (ASX:PEX) has been granted a trading halt by the ASX, pending details of an exploration update.

Peel’s projects cover more than 5,000 square kilometres across New South Wales and Western Australia.

The halt will remain in place until the opening of trade on Wednesday 22nd March 2017, or earlier if an announcement is made to the market.

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Mon, 20 Mar 2017 14:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/175031/peel-mining-to-reveal-exploration-update-175031.html
<![CDATA[News - Peel Mining confirms mineralisation with final batch of assays ]]> http://www.proactiveinvestors.com.au/companies/news/174728/peel-mining-confirms-mineralisation-with-final-batch-of-assays-174728.html Peel Mining (ASX:PEX) has received assays from its completed 18 hole drill program at its recently acquired 100%-owned Wagga Tank Project near Cobar in western New South Wales.

Initial drilling by Peel commenced in the December quarter for a total of 18 reverse circulation holes and 5 diamond tails for 4,788 metres.

All assays have now been received and have confirmed the historical drill results that featured strong evidence of a zinc-lead-silver-gold-copper mineralised system.

Results include 27 metres at 10.00% zinc, 6.41% lead, 89 g/t silver, 0.42 g/t gold, 0.21% copper from 240 metres and mineralisation remains open along strike and at depth.

Seven drill-holes require diamond extensions with drilling anticipated to recommence late March or early April.


Drill result details

Results are part of Peel’s maiden drilling program at Wagga Tank, designed to confirm the presence of high grade base and precious metal mineralisation originally identified in the 1970-80s.

Significant new high-grade mineralisation and extensions to existing high-grade mineralisation have been identified, with results including:

- 27 metres at 10.00% zinc, 6.41% lead, 89 g/t silver, 0.42 g/t gold, 0.21% copper from 240 metres including 10 metres at 19.39% zinc, 12.35% lead, 171 g/t silver, 0.67 g/t gold, 0.30% copper;
- 16 metres at 3.27 g/t gold, 0.35% copper, 1.1% zinc, 0.57% lead, 12 g/t silver from 226 metres including 10 metres at 4.27 g/t gold, 0.37% copper, 0.88% zinc, 0.52% lead, 13 g/t silver; and
- 13 metres at 3.34 g/t gold, 0.83% copper, 0.77% zinc, 0.28% lead, 20 g/t silver from 299 metres including 6 metres at 6.90 g/t gold, 1.28% copper, 0.62% zinc, 0.21% lead, 29 g/t silver.

All assays for Peel’s maiden Wagga Tank drilling program completed prior to end calendar 2016, have now been reported.

Drilling at the Wagga Tank is anticipated to resume upon completion of drilling currently underway at the company’s 60%-owned Wirlong copper prospect.

The activity at Wirlong is expected to finish late March to early April.


Background

Peel’s projects cover more than 5,000 square kilometres across New South Wales and Western Australia.

Projects include:

- Mallee Bull: An advanced copper polymetallic deposit that remains open in many directions;
- Cobar Superbasin: Farm-in agreement that offers funded strategic greenfields exploration potential along with the new Wirlong copper discovery;
- Wagga Tank: A polymetallic VHMS-type deposit with many significant intercepts;
- Apollo Hill: Exploration project that hosts a major, protruding, shear-hosted, gold mineralised system that remains open down dip and along strike; and
- Attunga: A high grade tungsten deposit.


Wagga Tank

Wagga Tank is 100% owned by Peel and was acquired for $40,000 and a 2% net smelter royalty.

It is a volcanic-hosted massive sulphide (VHMS) deposit located on the western edge of the Cobar Superbasin, 45 kilometres from Mallee Bull.

The deposit has had 42 historical holes drilled into it from 1989 including:

- 32 metres at 3.00 g/t gold, 24 g/t silver from 10 metres;
⁻ 20 metres at 3.11 g/t gold, 63 g/t silver from 28 metres;
⁻ 30 metres at 1.93 g/t gold 24 g/t silver from 8 metres;
⁻ 25.9 metres at 8.74% zinc, 3.39% lead, 82 g/t silver from 141.6 metres;
⁻ 15.7 metres at 10.39% zinc, 4.43% lead, 69 g/t silver from 215.6 metres;
⁻ 18.15 metres at 5.86% zinc, 3.00% lead, 32 g/t silver, 1.01 g/t gold from 222.85 metres;
⁻ 24 metres at 2.73% copper, 0.56 g/t gold, 13 g/t silver from 86 metres;
⁻ 20.3 metres at 2.17% copper, 0.76 g/t gold, 9 g/t silver from 184.4 metres; and
⁻ 13.55 metres at 4.6% copper, 1.14 g/t gold, 470 g/t silver from 119.75 metres.


Analysis

The final batch of assays from the 2016 drilling program at Wagga Tank supports the emergence of the Wagga Tank VHMS deposit as a significant zinc-lead-silver-copper-gold mineralised system.

Results to date are encouraging with confirmation of very high-grade zinc-lead-silver rich massive sulphide style mineralisation, and strong gold-copper mineralisation, at relatively shallow depths.

Whilst further drilling is required, Peel believes that the intersection of several strong gold-copper intervals possibly represents a previously unrecognised feeder structure to the historically reported oxide gold mineralisation.

Notwithstanding the required drilling of the oxide gold zone; the strong gold-copper intervals intersected by Peel are open down-dip and along strike and require follow-up drilling beyond the completion of Peel’s maiden 18-drillhole program.

Shareholders continue to be leveraged to news flow from proven exploration targets that are advancing towards development in the Cobar Superbasin.

Peel has a track record of operating with low overheads and investing capital into the ground with circa 18,000 metres of drilling in 2016.

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Tue, 14 Mar 2017 14:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/174728/peel-mining-confirms-mineralisation-with-final-batch-of-assays-174728.html
<![CDATA[News - Peel Mining is dominating the Cobar Superbasin ]]> http://www.proactiveinvestors.com.au/companies/news/174417/peel-mining-is-dominating-the-cobar-superbasin-174417.html Peel Mining (ASX:PEX) has the largest single company holding in the Cobar Superbasin of New South Wales comprising 3,777 square kilometres.

This tenure covers the bulk of historic metallic mineral occurrences in the southern half of Cobar Basin, considered highly prospective terrain.

Most prospects have received little exploration in modern times.

Peel has a strong discovery track record at its Cobar Superbasin projects with the discovery of the Wirlong copper deposit and the high-grade Mallee Bull copper-polymetallic deposit.

More recently, Peel has benefited from the emergence of the Wagga Tank volcanic-hosted massive sulphide (VHMS) deposit as a significant zinc-lead-silver-copper-gold mineralised system.


Background

Peel’s projects cover more than 5,000 square kilometres across New South Wales and Western Australia.

Projects include:

- Mallee Bull: An advanced copper polymetallic deposit that remains open in many directions;
- Cobar Superbasin: Farm-in agreement that offers funded strategic greenfields exploration potential along with the new Wirlong copper discovery;
- Wagga Tank: A polymetallic VHMS-type deposit with many significant intercepts;
- Apollo Hill: Exploration project that hosts a major, protruding, shear-hosted, gold mineralised system that remains open down dip and along strike; and
- Attunga: A high grade tungsten deposit.


Mallee Bull

The Mallee Bull project is a 50:50 joint venture with CBH Resources Ltd and is Peel’s most advanced asset.

The discovery featured some of the most significant copper results reported anywhere in the world in 2012-13.

A maiden JORC resource was released in May 2014 of 3.9 million tonnes grading 2.3% copper, 32 g/t silver and 0.3 g/t gold.

Since then, a number of highly mineralised extensional intercepts have been drilled and extensional work programs are continuing at Mallee Bull.

Mineralisation remains open along strike, up and down dip.

Metallurgical flotation test-work has indicated copper recoveries of up to 95%.


Mallee Bull: Extensional discoveries

In May 2015, the T1 near-surface high-grade zinc-lead-silver-gold discovery was made.

The T1 target returned shallow, high-grade mineralisation including:

⁻ 12 metres at 35.1% lead-zinc, 308 g/t silver, 1.59 g/t gold from 83 metres;
⁻ 7 metres at 34.1% lead-zinc, 203 g/t silver, 0.58 g/t gold from 71 metres; and
⁻ 10 metres at 23.4% lead-zinc, 322 g/t silver, 1.28 g/t gold from 106 metres.

In September 2016, a significant copper intercepts discovered Mallee Bull North, located 300 metres from Mallee Bull.

Intercepts include:

⁻ 7 metres at 2.01% copper, 37 g/t silver, 0.15 g/t gold from 324 metres;
⁻9 metres at 2.24% copper, 27 g/t silver, 0.27 g/t gold from 455 metres;
⁻7 metres at 1.28% copper, 16 g/t silver, 1.89 g/t gold from 371 metres; and
⁻5 metres at 2.22% copper, 31 g/t silver, 0.09 g/t gold from 404 metres.

Closer to the current deposit, extensional intercepts intersected on the northern edge of the Mallee Bull resource include:

- 62 metres at 3.15% copper, 42 g/t silver, 0.28 g/t gold from 465 metres; and
- 13 metres at 0.86% copper, 33 g/t silver, 1.39 g/t gold from 407 metres.


Wagga Tank

Wagga Tank is 100% owned by Peel and was acquired for $40,000 and a 2% net smelter royalty.

It is a VHMS deposit located on the western edge of the Cobar Superbasin, 45 kilometres from Mallee Bull.

The deposit has had 42 historical holes drilled into it from 1989 including:

- 32 metres at 3.00 g/t gold, 24 g/t silver from 10 metres;
⁻ 20 metres at 3.11 g/t gold, 63 g/t silver from 28 metres;
⁻ 30 metres at 1.93 g/t gold 24 g/t silver from 8 metres;
⁻ 25.9 metres at 8.74% Zn, 3.39% lead, 82 g/t silver from 141.6 metres;
⁻ 15.7 metres at 10.39% Zn, 4.43% lead, 69 g/t silver from 215.6 metres;
⁻ 18.15 metres at 5.86% Zn, 3.00% lead, 32 g/t silver, 1.01 g/t gold from 222.85 metres;
⁻ 24 metres at 2.73% Cu, 0.56 g/t gold, 13 g/t silver from 86 metres;
⁻ 20.3 metres at 2.17% Cu, 0.76 g/t gold, 9 g/t silver from 184.4 metres; and
⁻ 13.55 metres at 4.6% Cu, 1.14 g/t gold, 470 g/t silver from 119.75 metres.

Initial drilling by Peel commenced in the December quarter for a total of 18 reverse circulation holes and 5 diamond tails for 4,788 metres.

The program has successfully confirmed the presence of high grade base and precious metal mineralisation originally identified at Wagga Tank.

Final assays remain pending.


Cobar Superbasin Project

The Cobar Superbasin Project is subject to a memorandum of agreement with Japan Oil, Gas, and Metals National Corporation (JOGMEC), under which JOGMEC may earn up to 50% interest by funding up to $7 million of exploration.

The Stage 1 expenditure commitments totalling $4 million were concluded in the September 2016 quarter, taking JOGMEC's interest in the project to 40%.

Stage 2, for an additional 10% interest through the spending of $3 million, has commenced.

The focus has been on the Wirlong and Red Shaft prospects where drilling has discovered high grade copper-silver-gold mineralisation.

Results include:

- 9 metres at 8.0% copper, 17 g/t silver, 0.21 g/t gold from 616 metres;
- 26 metres at 1.21% copper, 5 g/t silver from 227 metres; and
- 9 metres at 3.29% copper, 18 g/t silver from 70 metres.

Mineralisation has been defined from near-surface to more than 500 metres depth, along over 500 metres strike that remains open.

Further extensional drilling at Wirlong is underway.


Analysis

Importantly, Peel has a track record of operating with low overheads and investing capital into the ground with circa 18,000 metres of drilling in 2016.

Peel has a competent board and management that have made discoveries such as Mallee Bull, Wirlong and Red Shaft and have done value accretive deals such as Wagga Tank to deliver value to shareholders.

This has resulted in the company emerging as one of New South Wales’ predominant green fields explorers.

Shareholders are leveraged to news flow from proven exploration targets that are advancing towards development in the Cobar Superbasin.

The Cobar area hosts proven prospective geology, which features multiple high grade mineral deposits and long-life mining operations.

Due to its prospectivity, the area has good access to mining infrastructure and a supportive, mining-skilled community.

With a current share price of $0.175, Peel has a market cap of 26.5 million making for a compelling value proposition.

Peel is well funded to continue delivering drill-based news flow with $3.3 million in cash at the end of the December quarter.

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Wed, 08 Mar 2017 10:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/174417/peel-mining-is-dominating-the-cobar-superbasin-174417.html
<![CDATA[News - Peel Mining reveals base metal potential of New South Wales projects ]]> http://www.proactiveinvestors.com.au/companies/news/168230/peel-mining-reveals-base-metal-potential-of-new-south-wales-projects-168230.html The Drilling at Mallee Bull was designed to further test the recently discovered mineralisation at Mallee Bull North.

The drilling returned additional copper-dominant intercepts including:
- 5 metres at 2.22% copper, 31 g/t silver, 0.09 g/t gold from 404 metres; and
- 10 metres at 1% copper, 14 g/t silver, 0.07 g/t gold from 469 metres.

The Mallee Bull North area was identified following a review of electromagnetic surveys adjacent to an area of interest.

The drill results confirm that the conductor responsible for the electromagnetic anomaly is caused by significant copper mineralisation.

Further extensional drilling at Mallee Bull is planned to be completed prior to year-end.

At the Wagga Tank Project, Peel has completed six reverse circulation drill holes for 1,537 metres with a seventh drill hole currently in progress.

Whilst assays for all the holes remain pending, initial geological logging has confirmed the presence of significant zones of copper oxide/sulphide mineralisation and zinc-lead-silver sulphide mineralisation.

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Mon, 31 Oct 2016 08:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/168230/peel-mining-reveals-base-metal-potential-of-new-south-wales-projects-168230.html