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07/02/2012

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Additional Information
Market:ASX
Sector:General Mining
EPIC:PEN
Latest Price: 0.04  (5.41% Ascending)
52-week High:0.09
52-week Low:0.03
Market Cap:84.39M
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Peninsula Energy Full Peninsula Energy profile here

Peninsula Energy (ASX: PEN) is an emerging ASX listed Uranium producer with assets in the USA and South Africa. The company is focused on advancing the Lance ISR Projects, located in the Powder River Basin, Wyoming USA through to production, and to take the Karoo Projects in South Africa further up the development curve.

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Peninsula Minerals finds more high grade uranium mineralisation in Wyoming

Wednesday, May 12, 2010
Peninsula Minerals finds more high grade uranium mineralisation in Wyoming

US-focussed Peninsula Minerals (ASX: PEN) has tasted more drilling success at its Ross Uranium project, part of the Lance Projects, located on the north-east side of the Powder River Basin in Wyoming, USA.

Three drill rigs are working at Ross, to expand extensions of the known target zones identified by the resource model, enhancing the grade and definition of the existing drill-defined resources and to convert inferred resource to indicated status.

A number of high grade intersections were encountered from drilling which has expanded the mineralised zones at Ross. In the period March 2 to April 28, 2010 Peninsula completed 175 drill holes at Ross, of which 78 holes encountered significant mineralisation.

Best drill results included: Hole RMR0399 which intersected 7.5ft @ 1,370ppm U3O8 from 565.25’ to 572.75’; Hole RMR0452 intersected 19.5ft @ 310ppm U3O8 from 611.25’ to 630.50’; Hole RMR0447 which intersected 10ft @ 450ppm U3O8 from 589.25’ to 599.25’ and Hole RMR0393 which  intersected 14.5ft @ 310ppm U3O8 from 402.75’ to 417.25’.

Executive Chairman Gus Simpson said “The current drill results continue to build on PEN’s aim of moving the Lance projects to development.“

A fourth rig continues to test sparsely drilled target zones, with the aim of expanding the current JORC compliant resource estimate.

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