Peel Exploration (ASX: PEX) has reported that diamond drilling currently underway at its 100%-owned Attunga Copper Mine prospect in New South Wales has intersected visible molybdenum (molybdenite) and copper (chalcopyrite) mineralisation.
The Attunga Copper Mine is located approximately 800m north of Peel’s high-grade Attunga Tungsten Deposit (1.29Mt at 0.61% WO3) in the Tamworth region of NSW.
Recently completed drill hole ACMD-008, which was designed to test for up-dip (near-surface) extension to previously identified gold-copper-molybdenum mineralisation, intersected approximately 30 metres of cumulative skarn alteration in multiple zones.
Visible sulphide mineralisation was identified in various skarn and breccia zones, with an alteration zone recorded between about 46m and 54m downhole including encouraging chalcopyrite, and locally-strong molybdenite mineralisation.
Peel Exploration shares rose 52% to 13 cents in trading today.
http://www.proactiveinvestors.com.au/companies/news/6480/peel-exploration-shares-spike-on-copper-intersects-6480.html
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