Peninsula Mines fast track zinc project
Published 09-MAR-2017 11:48 A.M.
2 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
Diversified metals explorer, Peninsula Mines (ASX:PSM), a company with a number of projects in South Korea, announced on Thursday that it will be fast tracking the Ubeong zinc project following the receipt of encouraging soil samples which featured grades of up to 2.3% zinc, with supporting silver and copper mineralisation also identified.
Of course it should be noted that PSM is an early stage play and investors considering this stock for their portfolio should seek professional financial advice.
The soil samples were part of a 66 sample program conducted in the vicinity of the historical Chilbo mine workings.
In pursuing these leads, the company will also benefit from detailed mapping of 70 additional workings that have not yet been sampled. Sampling of remnant mineralisation in workings to date has produced results that include 2 metres grading 29% zinc and 0.4 metres grading 39.7% zinc and 294 grams per tonne silver.
Management highlighted that a reinterpretation of detailed ground magnetics completed in November 2016 incorporating structural information from the mapping has identified a series of north-west and north-south trending structural corridors coincident with the workings that are associated with the strongly anomalous soil sampling results received to date.
As a result of these developments, additional rock chip and channel sampling, as well as detailed soil sampling and IP geophysics will be fast tracked with the aim of defining drilling targets for high grade zinc silver mineralisation at the Ubeong project.
Summing up these developments, PSM Managing Director Jon Dugdale said, “The initial orientation soil sampling results are very strong, and demonstrate the potential for broad multi-element anomalies at the Ubeong zinc project.”
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.