Peel reports resource estimate in NSW
PERTH (miningweekly.com) – Junior Peel Mining has reported a mineral resource estimate (MRE) of 20-million tonnes, containing 216 000 t of copper, 322 000 t of zinc, 151 000 t of lead, 22-million ounces of silver and 204 000 oz of gold for its South Cobar project, in New South Wales.
The company this week told shareholders that 14-million tonnes, or around 70% of the MRE, including 152 000 t of contained copper, was classified as indicated.
“Peel has established a strong resource base at its South Cobar project with a level of resource confidence to advance mining studies and permitting for exploration declines,” said MD Jim Simpson.
“The strong drill results from Mallee Bull and Wirlong over the last 18 months have translated into a significant upgrade in confidence of these copper resources, with some 77% of the company’s copper-dominant resource now classified as indicated resource, for approximately 152 000 t of the 197 000 t copper metal contained in these two copper-rich deposits.”
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