Cobar District Exploration Update

On 17 July, we shared details of significant results from surface and underground exploration programs at the Queen Bee deposit and the North and South Mines in the Peak Mine Complex within the Cobar District.

Significant copper was intersected at Queen Bee, south of the Peak Mine, and at Mt Pleasant and Jubilee North, in the Peak North Mine. Significant gold was also intersected at Blue Lens, in the Peak South Mine.

At Queen Bee, located 10 kilometres (km) south of our Peak processing plant, the highest copper grade to date – 17.1% Cu – was intersected. The results significantly improved confidence in the continuity of mineralisation along strike and vertically through the deposit which remains open along strike and at depth.

Copper grade up to 11.1% was intersected at Mt Pleasant, located 600m south of existing mine development at the Chesney deposit, in the Peak North Mine. Significantly, these results represent the highest modern assay grade encountered in the area.

Drilling also extended known mineralisation along strike at the Jubilee deposit, located north of and adjacent to the New Cobar deposit, in the Peak North Mine. And strong gold grades were returned from Blue Lens drilling, which targeted up-dip extensions to gold-dominant Peak North mineralisation, in the Peak South Mine.

Our Chief Development and Technical Officer, Andrew Graham spoke about the results.

“In the second half of FY25, copper will become the dominant ore type mined at Peak, marking a clear milestone in the transition of Peak to its future as a copper mine.

“It is fantastic that our recent exploration campaigns in the Cobar District have had such considerable success in delineating additional high-grade copper zones, further supporting a long-life copper future for Peak.

“The exceptional copper grades intersected at Queen Bee are particularly encouraging. Our aim is to grow this deposit to potentially support the development of a new mining source to feed the Peak processing plant,” Andrew said.

The full details of these results are available in the ASX Announcement: Cobar District Project Update.