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Peninsula Mines Ltd.
Summary
| Project: | Osu | |
|---|---|---|
| Deposit: | Palgong west | |
| Location: | South Korea | |
| Commodities: | Gold | |
| Date: | 12/4/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 4-12-2018: Peninsula Mines Ltd. announces an Exploration/Drilling Update report for its Palgong west deposit at the Osu project. Drilling results incl. 0.31m @ 22.2g/t Au, 182g/t Ag from 157.79m. Peninsula Mines Ltd (“Peninsula” or “the Company”) complete | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Daniel Noonan (Internal) | |
| ABSTRACT: | Peninsula Mines Ltd (“Peninsula” or “the Company”) completed two diamond drill holes testing the Palgong West epithermal lodes at the Osu Gold Project in South Korea (see Figure 1, inset, for location)D1 and produced the following high-grade gold (Au) and silver (Ag) results: The initial two diamond drill holes for 321.47m tested the Palgong West structure (see Figure 1), following up previous limited drilling undertaken in 1975 by the Korean Mineral Promotion Corporation (KMPC), now the Korea Resources Corporation (KORES) that intersected high-grade gold and silver in diamond drill hole PD75- 2: 0.3m @ 5.1 g/t Au, 2,252 g/t Ag from 86.3m and 0.4m @ 8.4 g/t Au, 6,121 g/t Ag from 110.8mD1,D2 . Historical underground sampling of the Palgong West veins by KORES produced resultsincluding 0.1m @ 120.2 g/t Au & 1,113 g/t Ag; 0.1m @ 114.7 g/t Au & 830 g/t Ag and 0.2m @ 32.1 g/t Au & 326 g/t Ag averaging 0.15m @ 33 g/t Au & 364 g/t Ag over an approximately 150m strike length (see Figures 1 and 2) . The Managing Director of Peninsula, Jon Dugdale, said, “These high-grade gold drilling results from Osu confirm the very high gold grades historically obtained from underground sampling and the potential to define a high-grade gold shoot at Osu, for possible development.” “Peninsula has identified multiple opportunities in Korea to advance under-explored mineral projects through drilling and potentially development, and while the primary focus of the Company is flake-graphite and other battery minerals projects, our ability to define and access multiple targets has presented the Company with multiple opportunities for discovery.” | |
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