Peel Mining Limited announced update on SOUTH COBAR COPPER PROJECT. All diamond drilling completed at Wirlong, prior to the end of 2021, has now been assayed High-grade zones of copper mineralisation now assayed include: 43m @ 1.92% Cu, 8g/t Ag from 280m (WLDD034) including; 18.8m @ 3.35% Cu, 13g/t Ag from 293m; 5.7m @ 5.54% Cu, 24g/t Ag from 239m (WLDD035); 49m @ 1.50% Cu, 6g/t from 260m (WLDD035) including; 20m @ 2.86% Cu, 10g/t Ag from 286m; 13m @ 4.49% Cu, 19g/t Ag from 201m (WLDD038); 7.21m @ 2.98% Cu, 7g/t Ag from 348m (WLDD042); 24m @ 1.48% Cu, 7g/t Ag from 300m (WLDD048) including; 5.75m @ 2.56% Cu, 11g/t Ag from 303.25m; 7.5m @ 3.18% Cu, 8g/t Ag from 529m (WLDD048); 4m @ 6.17% Cu, 23g/t Ag from 324m (WLDD054); 3.6m @ 11.77% Cu, 39g/t Ag from 374.1m (WLDD056); 31m @ 1.55% Cu, 4g/t Ag from 536m (WLDD057) including; 14m @ 2.52% Cu, 6g/t Ag from 546m; 35m @ 1.82% Cu, 4g/t Ag from 472m (WLDD059) including; 15m @ 3.11% Cu, 6g/t Ag from 492m. Extensional and infill drilling at Wirlong resumed in April 2022, with three rigs active and new zones of mineralisation intersected (WLDD061).

Diamond drilling at Wirlong commenced in April 2022 with 48,000m of drilling planned utilising up to four drill rigs. The objective of this program is to target extensions to the mineralisation and upgrade the classification of the Wirlong Resource. Drilling is expected to be complete by the end of this calendar year.

Extensional drilling has already intercepted zones of significant mineralisation outside of the existing resource model. WLDD061 intercepted several zones of mineralisation including a broad zone of mineralisation from 575m to 620m inclusive of a massive chalcopyrite interval. This zone occurs 50m down dip of the current resource model at 600m below surface.