CSP JV (JOGMEC)
The Wirlong Copper discovery is a 50:50 joint venture between Peel Mining and Japan Oil, Gas and Metals National Corporation (JOGMEC), a state-owned resource development company.
The project is located approximately 70km south-southeast of Cobar and is a large system which displays the typical hallmarks of Cobar-style minerals deposit.
Mineralisation at Wirlong has been defined from near-surface to a depth of more than 600m below surface. The deposit remains open at depth.
JOGMEC has been a partner at Wirlong since September 2014. The organisation has the right to earn up to a 50% interest in the project by funding $7 million of exploration expenditure.