PSM identifies high grade polymetallic mineralisation at Ubeong
Published 26-APR-2017 16:50 P.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
Peninsula Mines (ASX: PSM) has identified additional high grade silver-gold-zinc mineralisation from quartz-sulphide veining located directly south of the historical Chilbo workings on the company’s Ubeong Zinc-Silver Project located in South Korea.
These new results, including up to 630 g/t silver, 5.3 g/t gold and 1.17% zinc, confirm the polymetallic nature of the Ubeong mineralised system and indicates the potential for high grade silver-gold zones, while also supporting the potential prospectivity of the region based on previously identified high-grade zinc-silver mineralisation.
It should be noted that this is an early stage play and investors should seek professional financial advice before making their investment decision in this stock.
The location of the recently identified mineralisation relative to the historical Chilbo workings is shown below.
Commenting on near-term initiatives, PSM’s Chief Executive, Jon Dugdale said, “The accelerated program to define drilling targets at Ubeong is now well underway, and a total of 141 additional rock chip samples have been collected in the vicinity of the 70 additional historical mine workings identified during mapping”.
These samples have been collected over a one square kilometre area and will be submitted for a polymetallic range of elemental analyses including zinc, silver, copper and gold. A selection of results from the Ubeong zinc-silver project is listed below.
Rock chip and soil sampling underway providing defined targets for polymetallic drilling
In addition to the rock chip sampling, detailed soil sampling has recommenced over the faulted Chilbo workings area at 100 metre by 25 metre spacing, and extended to cover the recently identified high grade silver-gold zone.
Initial soil sampling results included up to 2.1% zinc close to an area of workings (previous channel sample results including 2m @ 29% zinc), as well as a broader 100 metre wide polymetallic anomaly of more than 1,100ppm zinc, with supporting copper, lead, silver and other elemental analyses, that is associated with minor workings only.
The results of the systematic rock chip sampling and the detailed soil sampling will be compiled and interpreted to define drilling targets for high-grade zinc, silver and/or copper, and/or gold mineralisation. Additional geophysics including Induced Polarisation (IP) to directly target larger sulphide zones will also be considered in the course of refining drilling targets.
As illustrated below, PSM has secured three granted tenements and multiple tenement applications over the eastern 10 kilometre strike length of a highly prospective limestone-skarn unit that includes the historical Chilbo mine workings and adjoins the operating Kumho Zinc Mine.
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.
