Peel Mining Reports 22.9Mt at 2.20% CuEq in Cobar Basin Projects

Dominant Position in a Tier-1 Mining Region

Peel Mining Limited (ASX – PEX) has presented a comprehensive update that underscores its commanding presence in the Cobar Basin of New South Wales, one of Australia's premier mineral production regions. The company holds a substantial land package spanning over 2,200 square kilometres, hosting a high-grade global resource base of 22.9 million tonnes at 2.20% copper equivalent. This resource includes copper, gold, silver, lead, and zinc, reflecting the polymetallic nature of the deposits.

With a portfolio centred on the South Cobar Copper Project and the Southern Nights Complex, Peel Mining is advancing multiple projects through detailed mine studies, metallurgical testing, and environmental approvals. Both projects benefit from proximity to established regional infrastructure and processing facilities, a critical factor in reducing development risk and capital intensity.

Exploration and Development Momentum

The company’s exploration efforts remain vigorous, with ongoing drilling programs targeting extensions at key deposits such as Mallee Bull, Wirlong, Wagga Tank, and Southern Nights. Notably, the recent commencement of drilling at the Nombinnie gold prospect and planned exploration at May Day and Beanbah signal Peel’s commitment to unlocking further value from its extensive tenure.

Peel’s approach combines conventional underground mining with potential open-pit operations, supported by a first principles review of mine development and processing options. Exploration declines have been approved at Mallee Bull and Wirlong, facilitating underground access and detailed resource definition. Environmental baseline studies and heritage surveys are well advanced, positioning the company for near-term development milestones.

Strategic Positioning and Regional Dynamics

Peel Mining’s strong leadership team, solid balance sheet, and supportive shareholder base provide a foundation for growth and consolidation in the Cobar region. The company is actively pursuing value-accretive acquisitions, focusing on pre-development projects with defined resources and study work completed, particularly those aligned with its copper and polymetallic expertise.

The Cobar Basin itself is experiencing renewed activity, with recent major transactions including Harmony Gold’s $1.6 billion acquisition of the CSA mine and operational restarts by Kingston Resources and Polymetals. Peel’s strategy to leverage this dynamic environment through strategic M&A and exploration positions it well to emerge as a leading mid-tier project developer.

Investment Considerations and Risks

While Peel Mining’s resource base and project pipeline are compelling, the company’s forward-looking statements are subject to typical mining sector risks, including commodity price volatility, regulatory approvals, operational challenges, and environmental factors. Investors should weigh these risks alongside the company’s growth potential and ongoing exploration success.

Overall, Peel Mining’s presentation paints a picture of a company with a clear mandate for growth, underpinned by substantial mineral resources and a strategic foothold in a prolific mining province. The coming months will be critical as drilling results, environmental approvals, and potential acquisitions shape the company’s trajectory.