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Peninsula Mines Ltd.
Summary
| Project: | Gapyeong | |
|---|---|---|
| Deposit: | Gapyeong | |
| Location: | South Korea | |
| Commodities: | Graphite | |
| Date: | 12/11/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 11-12-2018: Peninsula Mines Ltd. announces an Exploration/Drilling Update report for its Gapyeong deposit at the Gapyeong project. Drilling results incl. 10.56m @ 7.1% TGC from 70.91m. Peninsula Mines Ltd (ASX:PSM) has produced multiple, high-grade, flake | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Daniel Noonan (Internal) | |
| ABSTRACT: | Peninsula Mines Ltd (ASX:PSM) has produced multiple, high-grade, flake-graphite intersections, including up to 10.63m @ 11.6% TGC including 8.63m @ 12.1% TGC, from its initial drilling programme at the Gapyeong Graphite Project, located 50km east of Seoul in South Korea (see Figure 1, inset, for location). The initial drillingD2,D3 included six diamond drill holes for 458m on two 80m spaced cross sections across the high-conductivity electromagnetic (EM) anomalyD11 that corresponds with the graphitic units (see Figure 1). Two drill holes on each section, including GPD0001 and GPD0002 on section 4,180,760mN, and GPD0004 and GPD0005 on section 4,180,680mN, intersected multiple,steeply dipping,skarn/marble hosted, graphitic units, interpreted to be folded into a shallowly north plunging synformal structure (see cross sections Figures 2 & 3). Peak graphite intersections from diamond drill-core sampling of the Gapyeong fold structure are as follows Peninsula’s Managing Director, Jon Dugdale, said: “These intersections of high-grade flake graphite at Gapyeong are very encouraging, and confirm the thickness and high-grades of over 12 percent graphite intersected in previous trenching. “The next step is to complete confirmatory concentrate metallurgy on fresh rock samples before we continue drilling to target a maiden flake-graphite mineral resource in South Korea.” The western fold limb hosts lower grade disseminated flake graphite with associated skarn/calc-silicate alteration and sulphide mineralisation while on the eastern fold limb the abundance of flake graphite noticeably increases as does the alteration and sulphide mineralisation. (see cross sections Figures 2 and 3). The two holes drilled to the west (GPD0003 and GPD0006) intersected lower grade graphite mineralisation associated with a major north-south trending fault structure. Some minor areas of skarn mineralisation with associated flake graphite were observed immediately adjacent to the western fault structure (see Table 1). The Exploration Target model for Gapyeong is for a shallow plunging synformal structure, as indicated by the EM modelD5,D11 , and this has been confirmed by the initial drilling (see cross sections Figures 2 and 3). | |
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