Peninsula Mines releases high grade zinc and silver results

Published 23-MAY-2017 11:49 A.M.

|

1 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 released promising results from surface rock chip sampling conducted at its Ubeong zinc-silver project located in South Korea.

As well as having secured three tenements, PSM has multiple tenement applications over a 10 kilometre strike length of highly prospective territory, including the historical Chilbo mine workings which adjoin the operating Kumho zinc mine.

The latest samples have been collected from the historical Chilbo mine workings with notable returns across a broad range of samples including 48.8% zinc, 958 grams per tonne silver 4.9 grams per tonne gold and copper grading 2.74%.

One of the promising developments was the evidence of a second style of copper-gold mineralisation where copper as chalcopyrite is associated with massive pyrrhotite, a magnetic sulphide.

This zone was characterised by high magnetic intensity, and soil sampling has also been completed over this zone with the objective of defining geochemical copper-gold targets.

Of course this is still an early stage play and investors should seek professional financial advice if considering this stock for their portfolio.

Commenting on these latest developments, PSM’s Managing Director, Jon Dugdale, said, “The results of systematic rock chip sampling of the Chilbo workings have highlighted the exceptional zinc and silver grades in this target area, and the bonus is that we are also seeing elevated copper and gold associated with the magnetic pyrrhotite, a separate target type within the extensively mineralised skarn”.

Dugdale confirmed that systematic soil sampling had been completed and he expects the results of this work, in conjunction with detailed IP and electromagnetic geophysics to be carried out in June, will define drilling targets for high-grade sulphide mineralisation, which will be tested as soon as possible after drilling access is achieved.

tags

COPPER


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