Peninsula Mines fast track zinc project
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.”
When the experts at Next Investors have a stock pick, it may pay to listen.
The Next Investors have been investing in ASX small cap stocks for years, with their best small cap picks yielding returns of 1,200%, 1,120%, 900% and 678%.
They have just revealed their hand-picked, FY2021 stock portfolio of high conviction long-term investments.
Click the link below to see what they are currently investing in.
S3 Consortium Pty Ltd (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 only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.