Peninsula identifies new high-grade zinc targets at Ileol

Published 03-JUL-2018 14:09 P.M.

|

3 minute read

Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.

In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.

The below articles were written under our previous business model. We have kept these articles online here for your reference.

Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.


Click Here to View Latest Articles

Peninsula Mines (ASX:PSM) has completed detailed ground magnetics at the Ilwelol mining area at the Ubeong zinc-lead-copper project in the highly mineralised Taebaek Basin in eastern South Korea.

At Ubeong, PSM has seven granted exploration and mining tenements and has applied for multiple tenement applications over an area of more than 10km x 10km of highly prospective limestone-skarn units.

The company reports it has identified new magnetic anomalies/massive-sulphide targets over a two kilometre strike length of the mineralised zinc-lead-copper skarn at Ilweol — effectively doubling the strike length of the Ilweol zinc-lead-copper skarn target. It is confident that the new magnetic anomalies identified will also be associated with high-grade sulphides, adding to identified massive sulphides.

High-grade massive zinc-lead-copper sulphides are associated with magnetic-highs in the one-kilometre strike length zone of previously identified mineralisation and KORES drilling intersections at Ilweol.

The recent ground magnetics identified similar magnetic highs along extensions of the skarn horizon to the northwest that are now the subject of soil sampling to define drilling targets to locate additional massive zinc-lead-copper sulphides in this highly prospective, two-kilometre, zinc-skarn corridor.

However it is an early stage of this company’s development and if considering this stock for your portfolio you should take all public information into account and seek professional financial advice.

The detailed ground magnetics has been completed on 100m spaced, north-south oriented, lines, with continuous readings recorded along the lines.

Below are the Ilweol ground magnetics (TMI, north shade), skarn-limestone interpretation, and KORES drillhole locations:

Significant magnetic anomalies are associated with identified massive sulphides intersected in previous KORES drilling in the main zone of workings to the southeast of the new data, including the following intersections:

- ILW 77-1: 7.0m (4.0m True Width – “TW”) at 14.58% zinc, 1.37% lead, 2.12% copper from 191.9m

- ILW 77-3: 2.1m (1.5m TW) at 18.66% zinc, 11.08% lead, 3.21% copper from 253.6m

and 5.5m (4.0m TW) at 10.16% zinc, 1.61% lead, 1.45% copper from 263.6m.

- ILW 76-3: 3.6m (2.5m TW) at 15.5% zinc, 1.48% lead from 181.3m.

PSM Managing Director Jon Dugdale said, “The correlation between magnetic anomalies and previous, high-grade, zinc-lead-copper intersections at Ilweol gives us great confidence that these new magnetic anomalies will also be associated with high-grade sulphides.

“We are applying modern exploration techniques to this large and underexplored zinc-lead-copper skarn system for the first time, and we now have multiple drilling targets to systematically test in what is effectively a Brownfields target area located within 10 kilometres of a producing zinc-lead-silver mine at Keumho.”

Soil sampling is in progress across the new magnetic anomalies to define further diamond drilling targets. These are planned to drill in conjunction with drilling to follow up the KORES high-grade zinc-lead-copper intersections.



General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.

 

Discover Small Cap
Biotech Stocks

Join thousands of other Investors following our stock commentary for Free

X