Peninsula Mines releases high grade zinc and silver results
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.
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.