Perth, Feb 1, 2012 (ABN Newswire) - Peel Mining Limited (
ASX:PEX) is pleased to provide a quarterly activities report for the period ended 31 December 2011.
Highlights for December quarter 2011
- Mallee Bull (previously 4-Mile) Cobar-style greenfields discovery:
-- 5,000m follow-up RC/diamond drilling commenced November 2011.
-- Initial results return high-grade copper-dominant polymetallic mineralisation from multiple drillholes, better assays include:
- 4MRC015 - 6m @ 3.23% CuEq* (2.00% Cu, 64 g/t Ag, 0.43 g/t Au, 0.52% Pb, 0.22% Zn, 0.02% Co) from 208m;
- 4MRC016 - 11m @ 3.33% CuEq (2.71% Cu, 36 g/t Ag, 0.26 g/t Au, 0.11% Pb, 0.07% Zn, 0.03% Co) from 233m; and
- 4MRC019 - 10m @ 3.63% CuEq (2.66% Cu, 41 g/t Ag, 0.51 g/t Au, 0.42% Pb, 0.22% Zn, 0.03% Co) from 237m.
-- Strike length of mineralisation extended to at least 120m and open in multiple directions.
-- Further assay results pending.
- Rise & Shine Gold project granted.
- Rights issue for A$2.6 million completed with strong demand for shortfall.
Plans for March quarter 2012
- Follow-up drilling and exploration at Mallee Bull.
- Initial drill programme at Ruby Silver.
- Metallurgy/scoping study at Apollo Hill.
* CuEq = Copper Equivalent (see page 6 for details regarding calculation).
To view the complete Peel Mining Quarterly Report, please refer to the following link below:
http://media.abnnewswire.net/media/en/docs/ASX-PEX-576274.pdf
ASX:PEX) is pleased to provide a quarterly activities report for the period ended 31 December 2011.Highlights for December quarter 2011
- Mallee Bull (previously 4-Mile) Cobar-style greenfields discovery:
-- 5,000m follow-up RC/diamond drilling commenced November 2011.
-- Initial results return high-grade copper-dominant polymetallic mineralisation from multiple drillholes, better assays include:
- 4MRC015 - 6m @ 3.23% CuEq* (2.00% Cu, 64 g/t Ag, 0.43 g/t Au, 0.52% Pb, 0.22% Zn, 0.02% Co) from 208m;
- 4MRC016 - 11m @ 3.33% CuEq (2.71% Cu, 36 g/t Ag, 0.26 g/t Au, 0.11% Pb, 0.07% Zn, 0.03% Co) from 233m; and
- 4MRC019 - 10m @ 3.63% CuEq (2.66% Cu, 41 g/t Ag, 0.51 g/t Au, 0.42% Pb, 0.22% Zn, 0.03% Co) from 237m.
-- Strike length of mineralisation extended to at least 120m and open in multiple directions.
-- Further assay results pending.
- Rise & Shine Gold project granted.
- Rights issue for A$2.6 million completed with strong demand for shortfall.
Plans for March quarter 2012
- Follow-up drilling and exploration at Mallee Bull.
- Initial drill programme at Ruby Silver.
- Metallurgy/scoping study at Apollo Hill.
* CuEq = Copper Equivalent (see page 6 for details regarding calculation).
To view the complete Peel Mining Quarterly Report, please refer to the following link below:
http://media.abnnewswire.net/media/en/docs/ASX-PEX-576274.pdf
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About Peel Mining Limited
Peel Mining Limited (ASX:PEX) is an Australian company focused on exploring and developing precious, base and specialty metals resources in New South Wales and Western Australia, Australia.
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