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Peninsula Mines Ltd.
Summary
| Project: | Ubeong | |
|---|---|---|
| Deposit: | Tiger | |
| Location: | South Korea | |
| Commodities: | Zinc-Lead-Silver-Bismuth | |
| Date: | 2/5/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 5-2-2018: Peninsula Mines Ltd. announces an Exploration/Drilling Update report for its Tiger deposit at the Ubeong project. Drilling results incl. 1m @ 266g/t Ag, 0.29% Pb, 0.42% Bi from 109.43m. Peninsula Mines Limited (“Peninsula” or “the Company”) is p | |
| Resources: | x | |
| CP/QP: | [Overall Report]: William Peters (Crosmin Pty Ltd.) | |
| ABSTRACT: | Peninsula Mines Limited (“Peninsula” or “the Company”) is pleased to announce it hasreceived highly encouraging assay results from massive and disseminated sulphide mineralisation intersected in diamond drill hole UBD0003 at its “Tiger” Target in the Chilbo historical workings area of the Ubeong Project in South Korea (see inset, Figure 1 for location). This diamond drill hole, UBD0003, targeted sulphide mineralisation down dip from previously sampled workings that produced a high-grade channel sample result of 2m @ 27.9% Zn, 958 g/t Silver (Ag)D4 from a steeply dipping sulphide lode in the southern part of the skarn-limestone unit (refer Figure 1). The majority of drill-core samples from previous drill holes UBD0001 and UBD0002, including several broad zones of disseminated sulphide mineralisation in UBD0002D2 , have been submitted to ALS in Perth for analyses and results will be reported in due course. The next drill hole planned (UBD0004) will be from the same site as UBD0003, but drilled in a northnortheast direction to test below highly anomalous zinc soilsampling results at the eastern end of the Taipan Zinc target, and under the previously sampled copper bearing massive sulphides at ViperD3 (see Figure 1). New soil sampling results (based on re-analysis of hand held XRF results at ALS in Perth, see Appendix 3), and previous rock chip sample resultsD2 , indicate a porphyry style zonation from a copper-gold central zone at Viper (associated with elevated magnetic intensity, see Figure 1), to a zinc-silver zone at Taipan, then lead-zinc in distal environments. Peninsula Managing Directorsaid, “The intersection of massive and disseminated zinc, lead and copper sulphides at Ubeong indicates that there is potential for larger mineralised bodies that will be targeted during the ongoing drilling programme. | |
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