Resources and Reserves
Mineral Resources & Reserves of Peel Mining projects
SOUTH COBAR PROJECT
The South Cobar Project is located within Peel’s 100%-owned tenure and comprises the Mallee Bull, Wirlong, Wagga Tank-Southern Nights and May Day deposits. For full details, refer to Peel Mining’s ASX Announcement dated 9 January 2023 – “20MT Resource Base for South Cobar Project”.
The MREs for the Mallee Bull, Wirlong, Wagga Tank-Southern Nights, and May Day deposits are reported in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code (2012))
Except for May Day Open pit estimates, the MREs are reported within constrained mineable shapes, created using Deswik mining software, reflecting underground mining, generated at A$80/t NSR cut off with a minimum mining width of three metres and include internal dilution. Tables 1 to 4 show MREs by dominant mineralogy and relevant deposits.
The MREs have been completed by independent mining consultant Mr Jonathon Abbott of Matrix Resource Consultants Pty Ltd (Matrix). Mr Abbott accepts responsibility for the block modelling and the MREs. Mr Robert Tyson, an employee of Peel Mining, accepts responsibility for the geological interpretation, sampling and analytical data upon which the MREs are based. NSR calculations and mineable shape creation was completed by ANTCIA Consulting Pty Ltd.
ATTUNGA TUNGSTEN RESOURCE
JORC 2004 1.29 Mt grading 0.61% Wo3 and 0.05% Mo for 9,400t contained WO3 equivalent1 using 0.2% WO3 equivalent1 cutoff. 580,000t grading 1.09% WO3 and 0.08% Mo for 7,300t contained WO3 equivalent1 using 0.4% WO3 equivalent cutoff. Attunga Tungsten Deposit Inferred Mineral Resource Estimate based on a 0.2% WO3 equivalent cut-off. For further information
COMPETENT PERSONS STATEMENTS
SOUTH COBAR PROJECT
The information in this announcement that relates to Mineral Resource estimates is based on information compiled by Mr Jonathon Abbott, who is a Member of The Australian Institute of Geoscientists. Mr Abbott is a director of Matrix Resource Consultants Pty Ltd and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the “Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves”. Mr Abbott consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
The information in this report that relates to Exploration Results, geological interpretation and information informing Mineral Resources estimates is based on information compiled by Mr Robert Tyson who is a fulltime employee of the company. Mr Tyson is a Member of the Australasian Institute of Mining and Metallurgy. Mr Tyson has sufficient experience of relevance to the styles of mineralisation and the types of deposits under consideration, and to the activities undertaken, to qualify as Competent Persons as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Tyson consents to the inclusion in this report of the matters based on information in the form and context in which it appears. Exploration results are based on standard industry practices, including sampling, assay methods, and appropriate quality assurance quality control (QAQC) measures.
This release may include aspirational targets. These targets are based on management’s expectations and beliefs concerning future events as of the time of the release of this document. Targets are necessarily subject to risks, uncertainties and other factors, some of which are outside the control of Peel Mining that could cause actual results to differ materially from such statements. Peel Mining makes no undertaking to subsequently update or revise the forward-looking statements made in this release to reflect events or circumstances after the date of this release.
Previous results referred to herein have been extracted from previously released ASX announcements. Previous announcements and reports are available to view on www.peelmining.com.au and www.asx.com.au. Additional information regarding each of the deposits contained within this report are available in the Company’s quarterly reports from December 2010 through to September 2022 and in progress reports as reported to the ASX. The company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements. The company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements.
ATTUNGA TUNGSTEN DEPOSIT
The information referred to in this report in relation to the Attunga Resource Estimate is based on information compiled by Mr Murray Hutton, a Competent Person who is a Member of the Australian Institute of Geoscientists. At the time of calculating the Resource Estimate Mr Hutton was a full-time employee of Geos Mining and was an independent consultant to Peel Mining Ltd.
Mr Hutton has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Mineral Resources and Ore Reserves’.
Mr Hutton consented to the inclusion of the matters based on his information in the form and context in which it appears.