Preheat the oven to 325°F. Spray a 9x9 pan with non-stick cooking spray.
In a medium-sized bowl, combine the peaches, sweetened condensed milk, 1 teaspoon of lemon juice, and the lemon zest.
In a large bowl cut the cold butter into the biscuit mix until crumbly. Stir in the peach mixture and spread into the prepared pan.
In a small bowl, combine the biscuit mix and brown sugar. Cut in the butter until crumbly. Stir in the chopped pecans. Sprinkle over the peach mixture.
Bake for 65 to 70 minutes.
While the cobbler is baking, prepare the sauce.
In a saucepan, combine the sugar, cornstarch, and cinnamon. Stir in the bourbon. Cook until thickened. Stir in the peaches. Cook and stir until hot.
You may get more than 1-1/2 tsp juice from the lemon but that's all we needed in this recipe. Pour the rest into a glass of ice water for a refreshing drink.We didn't use all of the bourbon sauce with the cake. It makes an amazing topping over ice cream as well.
This recipe was calculated using the exact brands and measurements I used to make this recipe. If you are following a strict diet please note changing anything will cause the nutritional info to change. My calculations are intended as a guide only.