Peninsula identifies high grade graphite channel intersections
Peninsula Mines Ltd (ASX:PSM) has identified thick and high-grade total graphitic carbon (TGC) intersections from channel sampling at its Gapyeong Graphite Project, 50 kilometres north-east of Seoul, South Korea.
Two intersections of circa 13 metres delivered grades of 10.6 per cent and 12.3 per cent TGC at shallow depths.
The results included thick, high-grade, graphite channel sampling intersections including up to 6.66 metres at 17.2% graphite.
Peninsula managing director Jon Dugdale highlighted the significance of these developments in terms of establishing a resource in saying, “These very encouraging channel sampling results have confirmed the substantial thickness and high-grade of the Gapyeong graphitic unit.
“The next step is to drill test the Gapyeong graphite deposit and confirm the potential to define a large, high grade, flake-graphite resource and, at the same time, complete spherical graphite test-work to confirm downstream processing potential to produce this key component of the lithium-Ion battery, in Korea.”
Of course PSM is in the early stages of this ambition, so investors should seek professional financial advice for further information if considering this stock for their portfolio.
Drilling agreement paves the way for resource definition
An exploration target will now be estimated for the Gapyeong graphitic unit, incorporating the channel sampling, other rock chip sampling results and modelling of electromagnetic (EM) imagery.
Gapyeong is the largest and most intense EM anomaly that the company has generated in Korea.
A drilling access agreement has been reached with a local landholder, and negotiations are advanced with a second landholder to facilitate the commencement of drilling.
The main objective will be to confirm the exploration target prior to resource definition drilling to define a maiden Mineral Resource at Gapyeong.
Proven success in value-add process
Peninsula has previously achieved a high-grade, flake-graphite concentrate result of 95.4% TGC from initial batch grinding and flotation testing of an 80 kilogram plus sample with 17.7% TGC from the Gapyeong graphite deposit.
Independent Metallurgical Operations (IMO) have been commissioned to process the Gapyeong bulk composite to produce a five kilogram plus, high-grade (94% - 95% TGC), -150μm/+30μm, flake-graphite concentrate sample for spherical graphite testing in Germany.
The spherical graphite test-work will include micronisation, spheronisation and purification with the objective of generating a TGC purity of more than 99.95 per cent, uncoated, spherical graphite product suitable for lithium-ion (graphite) battery anode production in Korea.
This value-added process increases the potential value of the graphite product from a current market price for fine flake graphite concentrate (94-95% TGC) of circa $1000 per tonne to a current market price for uncoated, purified (+99.95% TGC)spherical graphite of more than $4000 per tonne.
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