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Peninsula Mines Ltd.
Summary
| Project: | Ubeong | |
|---|---|---|
| Deposit: | Ilweol | |
| Location: | South Korea | |
| Commodities: | Zinc-Lead-Copper | |
| Date: | 5/15/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 15-5-2018: Peninsula Mines Ltd. announces an Exploration/Drilling Update report for its Ilweol deposit at the Ubeong project. Historic drilling results incl. 7m @ 14.58% Zn, 1.37% Pb, 2.12% Cu from 191.9m. Peninsula Mines Ltd (ASX:PSM) has identified very | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Daniel Noonan (Internal) | |
| ABSTRACT: | Peninsula Mines Ltd (ASX:PSM) has identified very high-grade zinc (Zn) with lead (Pb) and copper (Cu) drilling intersectionsin a report released by the Korea Resources Corporation (KORES) following the grant ofthe Ilweol tenements on the Ubeong Zinc Project in South Korea (see Figure 1 for location). The diamond drilling was completed in 1976D7 and 1977D8 , re-compiled and reported by KORES in 2016, but only released to the Company upon grant of the Ilweol tenements. Figure 2 shows the drill hole locations and selected drilling intersections are tabulated below. All available data is presented in Appendix 1: The high-grade Zn-Pb-Cu massive and breccia sulphide mineralisation at IlweolD1 , is associated with a >2km strike length limestone-skarn horizon (see Figure 2), that was previously mined from the 1940s to the 1970s to a depth of approximately 150m, accessed by an adit from the valley floor which is still accessible. Detailed magnetics has now been completed by the Company along the mineralised skarn horizon at Ilweol. Interpretation of the magnetics imagery (see Figure 2) has highlighted that the magnetic highs along the mineralised skarn horizon correlate with the zones of identified high-grade massive sulphide mineralisation, between interpreted locally mineralised cross faults that intersect the structure. The six diamond drillholes were completed from the surface and have tested the lode on four sections over an approximately 1km strike length, testing below the level of the previous workings. Figure 3 shows a cross section through the steeply dipping massive slulphide Zn-Pb-Cu lode at Ilweol with the high-grade ILW 76-3 and ILW 77-1 uintersections shown. The high-grade Zn-Pb-Cu mineralisation is open at depth. | |
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