Peel Mining Unveils Major Copper Resource Growth in Cobar Basin

Strategic Resource Growth in the Cobar Basin

Peel Mining Limited (ASX – PEX) has released a comprehensive update on its mineral resource estimates and exploration activities as of August 2025, underscoring its growing footprint in the prolific Cobar Basin of New South Wales. The company’s South Cobar Project now boasts a combined mineral resource estimate of 22.9 million tonnes grading 2.20% copper equivalent (CuEq), equating to approximately 500,000 tonnes of contained copper equivalent metals. Notably, about two-thirds of this resource is classified as Indicated, reflecting a solid foundation for advancing project development.

The resource base spans several advanced deposits including Mallee Bull, Wirlong, Wagga Tank, Southern Nights, and May Day, each contributing to Peel’s diversified portfolio of copper, gold, silver, lead, and zinc mineralisation. Mallee Bull and Wirlong stand out as high-grade copper deposits with exploration declines and environmental permits already approved, signaling readiness to transition towards mining operations.

Exploration Success and Project Advancement

Peel’s exploration strategy continues to deliver, with four major greenfields discoveries since 2011, including the recent Wagga Tank open pit discovery in late 2024. The company is actively progressing pre-feasibility studies (PFS) for Mallee Bull and Wirlong underground deposits, while metallurgical and geotechnical drilling at Wagga Tank is underway to support its potential inclusion in the PFS by the March quarter of 2026.

Wagga Tank’s near-surface mineralisation offers promising operational advantages such as lower initial capital costs, improved early cash flow, and simplified underground development access. This could materially enhance the economics and timeline of Peel’s South Cobar Project.

Robust Land Position and Regional Context

Peel commands a strategic land position with approximately 2,764 square kilometres of tenure in the South Cobar region, including over 35,000 acres of pastoral landholdings securing key deposits. This tenure is complemented by additional projects in the Broken Hill and Anabama regions under joint ventures, expanding Peel’s exposure to tier-one copper and polymetallic targets.

The company’s assets are situated within a historically rich mining district with established infrastructure and ongoing investment from major players, underscoring the region’s significance as a copper supply hub. Peel’s exploration pipeline includes high-priority targets such as Chuchi, Nombinnie, and Beanbah, where drilling programs are planned or underway to test compelling geochemical and geophysical anomalies.

Market Position and Shareholder Structure

As of June 30, 2025, Peel Mining’s market capitalisation stands at approximately A$35 million, with cash reserves of around A$1.4 million. Major shareholders include Perth Capital Pty Ltd and Australian institutional investors, collectively holding nearly one-third of the company’s shares. The board and management team, led by Chairman Mark Okeby and CEO James Simpson, bring technical and operational expertise to steer Peel through its next growth phase.

While the company’s forward-looking statements are subject to typical mining sector risks, including commodity price fluctuations, regulatory changes, and exploration uncertainties, Peel’s methodical approach to resource development and exploration positions it well to capitalise on copper’s critical role in the global energy transition.