Proactiveinvestors Australia Peninsula Mines Ltd https://www.proactiveinvestors.com.au Proactiveinvestors Australia Peninsula Mines Ltd RSS feed en Sat, 20 Jul 2019 08:57:03 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Peninsula Mines extends high-grade graphite drilling target at South Korean project ]]> https://www.proactiveinvestors.com.au/companies/news/212924/peninsula-mines-extends-high-grade-graphite-drilling-target-at-south-korean-project-212924.html Peninsula Mines Ltd’s (ASX:PSM) additional strong graphite channel sampling intersections have extended the high-grade drilling target at Gapyeong Graphite Project in South Korea.

The high-grade sample results of up to 7.21 metres at 10.6% total graphitic carbon (TGC) have seen the target grow to 400 metres strike length and it remains open to the south.

This 10.6% result was within a 9.69-metre intersection which graded 9.7% TGC while other strong results were 3.97 metres at 9.8% and 5.62 metres at 6.0% from another channel.

READ: Peninsula Mines appoints new managing director with Korean experience

These results follow encouraging drilling results including 10.63 metres (7.4 metres true width) at 11.6% TGC from 61.9 metres including 8.63 metres (6.0 metres true width) at 12.1%.

Peninsula’s managing director Richard Henning said: “We continue to be encouraged by the high-grade intercepts from the Gapyeong graphitic unit and will now do further metallurgical testing prior to further resource drilling.

“The objective is to define a maiden flake-graphite mineral resource in South Korea.

“It should be noted that due to the winter season in Korea, ground conditions are such that further groundwork is unlikely until spring.”

Peninsula has also received additional analyses from a recent diamond hole with a new intersection of 4.15 metres at 5.1% TGC in addition to the previous intercept of 6.55 metres at 7.9%, including 2.47 metres at 11.9%.

The latest trench results indicate that the grade of the Gapyeong graphitic unit may be higher to the south of the current drilling.

Large flakes identified

Petrographic work on the Gapyeong drill-core has identified large flakes with interstitial and associated sulphides.

The presence of strong sulphide mineralisation was not evident in previous channel sampling and was most likely oxidised and leached at surface.

Metallurgical tests

Further metallurgical testing has been initiated on fresh-rock drilling samples to confirm that TGC concentrate in excess of 95% can be generated from the sulphide-bearing graphitic material.

Previous testing on surface trenching samples produced a high-purity metallurgical concentrate of 95.4% TGC.

Subject to achieving the requisite concentrate grade, the company will look to generate a 5-kilogram graphite concentrate sample for spherical graphite test work.

READ: Peninsula Mines signs graphite MOU with Korean lithium-ion battery anode supplier

The objective would be to reach a 99.95% TGC purity spherical graphite product to meet the specifications of South Korean lithium-ion battery anode manufacturers.

Peninsula recently signed an MOU with South Korean high-technology manufacturing company Tera Technos Co Ltd that specialises in the production of high-performance carbon composite ‘SiOx’ anode materials, a modified and enhanced version of spherical graphite.

Photomicrograph of the carbon composite anode materials produced by Tera Technos.

The MOU includes an initial testing program by Tera Technos to complete spheroidisation and electrochemical test work on graphite concentrate samples from the Gapyeong project.

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Mon, 21 Jan 2019 15:24:00 +1100 https://www.proactiveinvestors.com.au/companies/news/212924/peninsula-mines-extends-high-grade-graphite-drilling-target-at-south-korean-project-212924.html
<![CDATA[News - Peninsula Mines appoints new managing director with Korean experience ]]> https://www.proactiveinvestors.com.au/companies/news/212443/peninsula-mines-appoints-new-managing-director-with-korean-experience-212443.html Peninsula Mines Ltd (ASX:PSM) has made two board appointments in Richard Henning as managing director and Young Yu as non-executive director.

Henning will replace Jon Dugdale and Yu will replacement Martin Pyle, both Dugdale and Pyle will retire effective immediately.

Henning and Yu both bring previous business experience in Korea to the company’s board.

Board bolstered by enhanced Korean experience

Henning was previously a business manager at Extract Resources and managing director at Stonehenge Metals Ltd (ASX:SHE).

Yu is the current chairman of the Australia Korea Business Council of Western Australia and the National Leader of the Korean Services Group at Deloitte Australia.

Between 2004 and 2012, Yu represented both state and federal Australian governments in Korea as Commissioner of the WA Government and Trade Commissioner of the Commonwealth of
Australia.

READ: Peninsula Mines signs graphite MOU with Korean lithium-ion battery anode supplier

Earlier this month, Peninsula signed its first memorandum of understanding (MOU) with key Korean lithium-ion battery materials manufacturer Tera Technos Co Ltd.

The MOU involves initial testing of graphite concentrate samples from Peninsula’s flagship Gapyeong Graphite Project, and possibly the Eunha Graphite Project, both in South Korea.

READ: Peninsula Mines intersects high-grade flake graphite in Gapyeong drilling

 

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Mon, 14 Jan 2019 10:35:00 +1100 https://www.proactiveinvestors.com.au/companies/news/212443/peninsula-mines-appoints-new-managing-director-with-korean-experience-212443.html
<![CDATA[News - Peninsula Mines signs graphite MOU with Korean lithium-ion battery anode supplier ]]> https://www.proactiveinvestors.com.au/companies/news/212188/peninsula-mines-signs-graphite-mou-with-korean-lithium-ion-battery-anode-supplier-212188.html Peninsula Mines Ltd (ASX:PSM) has signed its first Memorandum of Understanding (MOU) with key Korean lithium-ion battery materials manufacturer Tera Technos Co Ltd.

The MOU involves initial testing of graphite concentrate samples from Peninsula’s flagship Gapyeong Graphite Project, and possibly the Eunha Graphite Project, both in South Korea.

“Toe-hold in dynamic li-on industry”

Peninsula’s managing director Jon Dugdale said the MOU represented a toe-hold in the world's most dynamic lithium-ion battery industry in South Korea.

“The company will now look to complete ground-breaking spheroidisation and electrochemical testing, in parallel with advancing its key graphite projects towards development and production,” he said.

Peninsula’s subsidiary Korea Graphite Co Ltd has entered the agreement with the South Korean high-technology manufacturing company.

Tera Technos specialises in the production of high-performance carbon composite ‘SiOx’ anode materials, a modified and enhanced version of spherical graphite.

READ: Peninsula Mines intersects high-grade flake graphite in Gapyeong drilling

The MOU includes an initial Tera Technos testing program to complete spheroidisation and electrochemical test work on Korea Graphite’s graphite concentrate samples.

Subject to test results, Tera Technos and Korea Graphite will use their best endeavours to negotiate a cooperation and offtake agreement.

This would allow Korea Graphite first priority to supply flake graphite concentrate to meet tonnage requirements and specifications required for the production of Tera Technos’ proprietary ‘Tera-Series’, (spherical) carbon composite anode materials.

READ: Peninsula Mines receives cash injection from sale of Daehwa project

For the testing Korea Graphite will provide flake graphite concentrate samples with total graphitic carbon (TGC) content of greater than 95% on the following specifications:

- 1 kilogram at 20µm; - 1 kilogram at 75µm; and - 1 kilogram at 150µm.

Graphite from Peninsula’s Gapyeong project.

Tera Technos is a South Korean company, incubated and funded by the Korea Institute of Energy Research (KIER) that the Korean government established in 1977.

High capacity, high efficiency and high stability

It manufactures and supplies high-performance carbon composite SiOx anode material that “can overcome the limitations of conventional anode materials for batteries and realise high capacity, high efficiency and high stability at the same time”.

This is based on source technology that has been studied for more than 10 years.

Tera Technos is collaborating with research institutes around the world to achieve sustainable innovation and produce an anode material for a lithium rechargeable battery with a high capacity, a high retention ratio, and excellent stability.

This would improve the range and charging efficiency of an electric vehicle and increase the usage duration of small electronic devices.

The company plans full production of high-performance carbon composite SiOx anode materials from 2019.

Peninsula’s supply strategy. Note: US$ pricing from Benchmark Mineral Intelligence graphite price assessments, July-December 2018.

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Wed, 09 Jan 2019 09:56:00 +1100 https://www.proactiveinvestors.com.au/companies/news/212188/peninsula-mines-signs-graphite-mou-with-korean-lithium-ion-battery-anode-supplier-212188.html
<![CDATA[Media files - Peninsula Mines intersects graphite in all six initial drill holes at Gapyeong project ]]> https://www.proactiveinvestors.com.au/companies/stocktube/11574/peninsula-mines-intersects-graphite-in-all-six-initial-drill-holes-at-gapyeong-project-11574.html Tue, 11 Dec 2018 10:34:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/11574/peninsula-mines-intersects-graphite-in-all-six-initial-drill-holes-at-gapyeong-project-11574.html <![CDATA[News - Peninsula Mines intersects high-grade flake graphite in Gapyeong drilling ]]> https://www.proactiveinvestors.com.au/companies/news/210906/peninsula-mines-intersects-high-grade-flake-graphite-in-gapyeong-drilling-210906.html Peninsula Mines Ltd (ASX:PSM) has intersected high-grade flake graphite in its initial drilling program at the flagship Gapyeong Graphite Project in South Korea.

The program comprised six diamond drill holes on two 80-metre-spaced cross-sections across the high-conductivity electromagnetic (EM) anomaly that corresponds with the graphitic units.

All six holes intersected graphite mineralisation including an interval of 8.63 metres at 12.1% total graphitic carbon (TGC) within an assay of 10.63 metres at 11.6% TGC.

The results have confirmed Peninsula’s exploration target model for Gapyeong, which is for a shallow plunging synformal structure as indicated by the EM model.

Peninsula managing director Jon Dugdale said the high-grade flake-graphite intersections were very encouraging and confirmed the thickness and 12%-plus grades intersected in previous trenching.

The company has also initiated metallurgical testing on fresh-rock drilling samples to confirm that a greater-than-95% TGC concentrate can be produced from the sulphide-bearing graphitic material.

Previous testing on surface trenching samples produced high-purity concentrate of 95.4%.

Further drilling to define a maiden flake-graphite resource will be planned based on the results of the fresh-rock metallurgy.

READ: Peninsula Mines extends supply agreement for Madagascan large-flake graphite

Dugdale said: “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 main graphitic unit appears to be thickening closer to the interpreted fold hinge at depth, representing a target for thicker, high-grade, graphite intersections similar to those produced by previous trenching.”

READ: Peninsula Mines confirms flake-graphite exploration target with Gapyeong intersections

Drill holes on each cross-section of the eastern limb intersected multiple steeply-dipping skarn and marble-hosted graphitic units which are interpreted to be folded into a shallowly north-plunging synformal structure.

Other assay results are:

6.55 metres at 7.9% TGC from 39.6 metres, including 2.47 metres at 11.9%; 10.56 metres at 7.1% from 70.91 metres, including 5.44 metres at 10% and 1.81 metres at 10.7% from 86.95 metres; and 6.45 metres at 4.6% from 15.22 metres and 2.64 metres at 7.7% from 38.13 metres.

The western fold limb hosts lower-grade disseminated flake graphite with associated skarn and calc-silicate alteration and sulphide mineralisation.

On the eastern fold, however, the flake-graphite notably increases in abundance, as does the alteration and sulphide mineralisation.

Additional trenching and channel sampling have also been completed and confirms the graphitic units extend over a 400-metre strike length, corresponding to the southern EM anomaly.

READ: Peninsula Mines receives cash injection from sale of Daehwa project

Dugdale added: “The ultimate goal is to develop a high-grade graphite mineral resource and prove the potential to produce high-purity, battery-grade, spherical graphite on the doorstep of the world’s largest lithium-ion battery industry.

“These drilling results are a key step towards achieving these objectives.”

The presence of strong sulphide mineralisation had not been evident in previous channel sampling, most likely being oxidised and leached at surface.

Further metallurgical testing will be conducted to confirm the graphite ore’s amenability to produce high-purity concentrate.

READ: Peninsula Mines hits high-grade gold and silver in Osu diamond drilling

The metallurgical work will look to generate a five-kilogram graphite concentrate sample for spherical graphite test work, with the objective of producing a 99.95% TGC-purity spherical graphite product.

This is to meet the specifications of South Korean lithium-ion battery anode manufacturers and other in-country end-users.

Peninsula has had advanced discussions with end-users in Korea regarding feed for battery manufacture and potentially also large-flake graphite for refractories in the steelmaking industry.

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Tue, 11 Dec 2018 08:51:00 +1100 https://www.proactiveinvestors.com.au/companies/news/210906/peninsula-mines-intersects-high-grade-flake-graphite-in-gapyeong-drilling-210906.html
<![CDATA[News - Peninsula Mines hits high-grade gold and silver in Osu diamond drilling ]]> https://www.proactiveinvestors.com.au/companies/news/210425/peninsula-mines-hits-high-grade-gold-and-silver-in-osu-diamond-drilling-210425.html Peninsula Mines Ltd (ASX:PSM) is encouraged by high-grade gold and silver results returned from diamond drilling at the Osu Gold Project in South Korea.

Two holes have been completed for a total of 321.47 metres to test epithermal lodes at the Palgong West structure and follow-up limited drilling undertaken in 1975.

Grades of up to 2.2 g/t gold and 182 g/t silver were returned in a 0.31-metre intersection from 157.79 metres.

READ: Peninsula Mines receives cash injection from sale of Daehwa project

Peninsula’s managing director Jon Dugdale said: “These high-grade gold drilling results 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.”

Other results from the veins were 0.27 metres at 4.44 g/t gold from 91.3 metres and 1.06 metres at 4.84 g/t gold and 42 g/t silver from 140.8 metres.

Grades of 22.2 g/t gold and 182 g/t silver were obtained in this 0.31-metre intersection.

Previous drilling by the Korean Mineral Promotion Corporation, now Korea Resources Corporation (KORES), intersected high-grade gold and silver.

These 1975 results including 0.3 metres at 5.1 g/t gold and 2,252 g/t silver from 86.3 metres and 0.4 metres at 8.4 g/t gold and 6,121 g/t silver from 110.8 metres.

Historical underground sampling of the Palgong West veins also returned strong results, averaging 0.15 metres at 33 g/t gold and 364 g/t silver over an approximate 150-metre strike length.

READ: Peninsula Mines progresses Korean graphite commercialisation strategy

Dugdale said: “Peninsula has identified multiple opportunities in Korea to advance under-explored mineral projects through drilling and potentially development.

“While the primary focus 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.”

READ: Peninsula Mines confirms flake-graphite exploration target with Gapyeong intersections

Further drilling has been planned to test the Palgong and Palgong West structures during the 2019 field season, subject to funding and priorities, and to also target the Palgong East structure.

Various Palgong lodes, recent drilling and previous channel sampling results and historical data.

Previous rock-saw channel sampling by Peninsula was completed obliquely at the latter across a zone of sulphidic sub-epithermal vein structures in and around historical underground workings.

This produced several high-grade, polymetallic results across the veined zones.

Joint venture being considered

The company is also considering establishing a joint venture partnership to advance the Osu project.

Expressions of interest have been received in a potential joint venture and data is being reviewed by two parties.

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Tue, 04 Dec 2018 09:41:00 +1100 https://www.proactiveinvestors.com.au/companies/news/210425/peninsula-mines-hits-high-grade-gold-and-silver-in-osu-diamond-drilling-210425.html
<![CDATA[News - Peninsula Mines receives cash injection from sale of Daehwa Project ]]> https://www.proactiveinvestors.com.au/companies/news/209793/peninsula-mines-receives-cash-injection-from-sale-of-daehwa-project-209793.html Peninsula Mines Ltd (ASX:PSM) has received the final payment of $735,000 related to the sale of the Daehwa Molybdenum-Tungsten Project in South Korea.

The company has also received an additional $65,000 from directors that participated in the recent capital raising.

Notably, with the addition of the final payment for the Daehwa project, this takes the total funds received by Peninsula to $1.42 million, pre-costs.

These valuable funds will support the company in delivering on its key graphite business objectives over the coming months.

READ: Peninsula Mines extends supply agreement for Madagascan large-flake graphite

Peninsula’s managing director Jon Dugdale said: “This is a great outcome for Peninsula as we have been able to bring in over $1.4 million in a tough market, which will now enable the company to deliver its immediate objectives that include drilling the Gapyeong high-grade flake graphite target and completing additional metallurgical test-work to generate a high-purity product that meets Korean end-user requirements.”

“These objectives are the key pre-cursors that potential flake-graphite offtake and/or development partners in Korea are looking for and we are confident, based on our discussions with these potential partners, that delivery of these outcomes will allow the company to negotiate long term agreements with one or more Korean end-users.”


Peninsula is developing a portfolio of flake graphite projects in South Korea.

The company plans to progress these projects to JORC compliant resource definition and, potentially, development of mining and flake graphite concentrate production.

It focused on producing high-end spherical or expandable graphite that can be used in lithium-ion battery applications and other high-end markets in Korea.

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Fri, 23 Nov 2018 11:23:00 +1100 https://www.proactiveinvestors.com.au/companies/news/209793/peninsula-mines-receives-cash-injection-from-sale-of-daehwa-project-209793.html
<![CDATA[News - Peninsula Mines extends supply agreement for Madagascan large-flake graphite ]]> https://www.proactiveinvestors.com.au/companies/news/209713/peninsula-mines-extends-supply-agreement-for-madagascan-large-flake-graphite-209713.html Peninsula Mines Ltd (ASX:PSM) subsidiary Korea Graphite Co Ltd has extended a large-flake graphite supply agreement with Canadian company DNI Metals Inc (CNSX:DNI) for on-sale to Korean end-users.

The amended agreement includes a commitment by DNI to annually supply up to 24,000 tonnes of flake graphite from its projects in Madagascar.

READ: Peninsula Mines progresses Korean graphite commercialisation strategy

Peninsula’s managing director Jon Dugdale said, “This amended flake-graphite supply agreement with DNI will assist the company to secure offtake agreements with Korean flake-graphite end-users.

“It will complement the company’s flake-graphite resource delineation and development plans in Korea.

“Peninsula has established strong relationships with Korean end-users looking to secure flake-graphite supply for lithium-ion battery anode production as well as for cutting-edge new technologies such as expandable graphite, a non-flammable building cladding/insulation product.”

Amended supply arrangements

The amended supply agreement includes DNI supplying Korea Graphite with minimum flake graphite production as follows:

- 500 tonnes of graphite production a month from July 1, 2019, for a minimum of four months, minimum total 2,000 tonnes; - 1,000 tonnes of graphite production per month from January 1, 2020, for six months, total 6,000 tonnes; and - 2,000 tonnes of graphite production per month from July 1, 2020, for a minimum of 24 months, total 48,000 tonnes.

The agreement is subject to Korea Graphite finalising one or more binding offtake agreements with Korean end users by July 1, 2019.

READ: Peninsula Mines completes SPP and placement, raising $886,000

Peninsula and DNI are discussing options to cooperate with respect to fast-tracking the development of DNI’s large-flake graphite projects in Madagascar.

Dugdale, who is also a director of Korea Graphite, said: “Madagascar has been producing high-purity, large-flake graphite for over 100 years and DNI’s large-flake graphite deposits are saprolite hosted and close to port, thus potentially low operating cost.”

DNI has two permitted deposits

DNI has two permitted, saprolite-hosted graphite deposits in Madagascar, 50 kilometres from the country’s main seaport of Toamasina.

The deposits, Vohitsara and Marofody, are less than 2-kilometres from the paved national highway.

DNI intends to develop the Vohitsara project, should the economic viability and technical feasibility be established.

READ: Peninsula Mines confirms flake-graphite exploration target with Gapyeong intersections

Korea Graphite has tenements and tenement applications in South Korea with fine to large and jumbo flake graphite identified.

Peninsula is progressing these and other projects to JORC-compliant resource definition with the objective of defining resources for scoping and feasibility studies.

This work has the potential to develop mining and flake graphite concentrate production for spherical graphite for lithium-ion battery applications and/or expandable graphite and other markets in Korea.

Peninsula is also engaged in advanced discussions with other flake-graphite end-users in Korea regarding feed for Li-ion battery anode manufacture and potentially large-flake graphite for refractories in the steel making industry.

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Thu, 22 Nov 2018 09:45:00 +1100 https://www.proactiveinvestors.com.au/companies/news/209713/peninsula-mines-extends-supply-agreement-for-madagascan-large-flake-graphite-209713.html
<![CDATA[Media files - Peninsula Mines advancing battery, base, and precious metals projects in South Korea ]]> https://www.proactiveinvestors.com.au/companies/stocktube/11181/peninsula-mines-advancing-battery-base-and-precious-metals-projects-in-south-korea-11181.html Tue, 13 Nov 2018 14:20:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/11181/peninsula-mines-advancing-battery-base-and-precious-metals-projects-in-south-korea-11181.html <![CDATA[News - Peninsula Mines director increases shareholding in recent SPP ]]> https://www.proactiveinvestors.com.au/companies/news/207715/peninsula-mines-director-increases-shareholding-in-recent-spp-207715.html Peninsula Mines Ltd (ASX:PSM) executive director Daniel Noonan has acquired an additional 400,000 shares in the company after participating in the share purchase plan (SPP).

The acquisition increases Noonan’s holding in the company to 16.5 million shares.

READ: Peninsula Mines completes SPP and placement, raising $886,000

Earlier this week, Peninsula intersected graphitic mineralisation in the first three diamond holes drilled at the high-grade Gapyeong Flake-Graphite Project in South Korea.

The three holes totalled 223.4 metres and confirmed the exploration target model for this high-grade flake graphite project.

These early results bode well for the definition of a maiden flake-graphite JORC resource.

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Wed, 24 Oct 2018 14:09:00 +1100 https://www.proactiveinvestors.com.au/companies/news/207715/peninsula-mines-director-increases-shareholding-in-recent-spp-207715.html
<![CDATA[News - Peninsula Mines confirms flake-graphite exploration target with Gapyeong intersections ]]> https://www.proactiveinvestors.com.au/companies/news/207609/peninsula-mines-confirms-flake-graphite-exploration-target-with-gapyeong-intersections-207609.html Peninsula Mines Ltd (ASX:PSM) has intersected graphitic mineralisation in the first three diamond-drill holes during its latest campaign at the high-grade Gapyeong Flake-Graphite Project, 50 kilometres east of Seoul in South Korea.

The three holes took in 223.4 metres and tested a section to the north of outcropping graphitic units, with two holes testing a projected western graphitic unit.

READ: Peninsula Mines completes SPP and placement, raising $886,000

Peninsula told the market the three holes featured “significant widths of graphitic mineralisation”.

These were: 8.19 metres (7.7 metres true width) from 39.6 metres downhole; 18.4 metres (10.8 metres true width) from 71.3 metres; and 8.95 metres (7.5 metres true width) from 61.85 metres.

The material encountered downhole was predominantly graphitic gneiss.

Peninsula reported the thickness and geometry was “in line with expectations and confirm exploration target model for a synform”.

READ: Peninsula Mines drilling Gapyeong for maiden graphite resource

Peninsula managing director, geologist Jon Dugdale, said: “The initial drilling intersections of graphitic material at the Gapyeong project are very encouraging.

“They have confirmed the exploration target model for this high-grade flake graphite project and auger well for the definition of a maiden flake-graphite mineral resource in South Korea.”

The previously announced exploration target for Gapyeong is 10 to 14 million tonnes grading 8% to 12% total graphitic carbon (TGC) and containing 1 to 1.4 million tonnes of graphite.

Past channel sampling returned intersection at the south of current drilling of: 13.1 metres grading 12.3% TGC, including 6.66 metres at 17.2% TGC; and 12.5 metres grading 10.6% TGC, including 2.6 metres at 14.5% TGC.

The company is hoping to mine its graphite flake, see it turned into concentrate, then produce spherical graphite to supply Korean lithium-ion (li-ion, LIB) battery-makers.

READ: Peninsula Mines progresses Korean graphite commercialisation strategy

Peninsula reported next steps for the South Korean project would include metallurgical testing of bedrock drill-core samples to determine concentrate characteristics in fresh rock.

The company said: “Following receipt of initial results and subject to concentrate metallurgy, the company will look to generate a 5-kilogram graphite concentrate sample for spherical graphite test work with the objective of reaching 99.95% TGC-purity product to supply Korean li-ion battery anode manufacturers.”

Peninsula’s previous testing of its high-purity metallurgical concentrate results returned 95.4% TGC from the Gapyeong flake-graphite deposit.

A lithium-ion (li-ion, LIB) batteries are rechargeable an increasingly used in electric vehicles and for military and aerospace applications.

Peninsula is at the doorstep of the world’s li-on battery manufacturing hub in South Korea, making its potential flake, concentrate and spherical graphite products attractive propositions for manufacturers.

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Mon, 22 Oct 2018 18:25:00 +1100 https://www.proactiveinvestors.com.au/companies/news/207609/peninsula-mines-confirms-flake-graphite-exploration-target-with-gapyeong-intersections-207609.html
<![CDATA[News - Peninsula Mines completes SPP and placement, raising $886,000 ]]> https://www.proactiveinvestors.com.au/companies/news/207438/peninsula-mines-completes-spp-and-placement-raising-886000-207438.html Peninsula Mines Ltd (ASX:PSM) has closed a share placement plan (SPP), raising an additional $270,300 and taking the total funds raised in a placement and SPP to $886,420.

There were more than 45 million shares issued in the SPP.

Total funds raised including directors’ subscriptions of $65,000 that are subject to shareholder approval at the company’s annual general meeting on November 9, 2018.

READ: Peninsula Mines drilling Gapyeong for maiden graphite resource

Peninsula’s managing director Jon Dugdale said, “We are very pleased with the strong support of our shareholders and new investors that subscribed under the placement and SPP.

“The money is going straight into the ground, drilling our flagship, high-grade, Gapyeong Flake Graphite Project in South Korea.”

One option will be issued for every two shares subscribed for in the placement and SPP with an exercise price of 1 cent per option and an expiry date of April 30, 2020.

Following completion of the September placement, a drilling program commenced in South Korea.

This is initially testing the Osu Gold-Silver Project followed by initial drilling of the flagship, high-grade, Gapyeong project.

READ: Peninsula Mines progresses Korean graphite commercialisation strategy

After the initial drilling, Peninsula plans to complete metallurgical testing aimed at producing high-purity spherical graphite to supply the lithium-ion battery anode market in South Korea.

Results from the ongoing drilling program will be reported in due course.

South Korea is one of the world’s largest producers of lithium-ion batteries, but obtains downstream graphite products, including spherical graphite for lithium-ion battery anodes, predominantly from China.

Peninsula has identified the opportunity to mine and process graphite to produce value-added spherical graphite, in South Korea, to directly supply battery manufacturers and other graphite end-users in-country.

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Fri, 19 Oct 2018 16:54:00 +1100 https://www.proactiveinvestors.com.au/companies/news/207438/peninsula-mines-completes-spp-and-placement-raising-886000-207438.html
<![CDATA[News - Peninsula Mines drilling Gapyeong for maiden graphite resource ]]> https://www.proactiveinvestors.com.au/companies/news/206619/peninsula-mines-drilling-gapyeong-for-maiden-graphite-resource-206619.html Peninsula Mines Ltd (ASX:PSM) has commenced initial diamond drilling to define a maiden JORC resource at its Gapyeong Flake-Graphite Project 50 kilometres east of Seoul, South Korea.

The initial program will include 10 to 12 diamond drill-holes for up to 1,200 metres testing a 400-metre strike length of the 1-kilometre-long Exploration Target.

This drilling will test the most intense electromagnetic (EM) anomaly from which high-grade trenching assayed 13.1 metres at 12.3% total graphitic carbon (TGC).

READ: Peninsula Mines progresses Korean graphite commercialisation strategy

Peninsula’s managing director Jon Dugdale said: “The commencement of this drilling program will allow the company to define a maiden flake-graphite mineral resource and deliver the first, critical, milestone towards executing our unique, in-country, mine to battery graphite business model.”

Drilling intersects sulphidic veins at Osu Gold-Silver Project

Two diamond drill holes for 320 metres have intersected sulphidic veining associated with the Palgong West lode structure at the Osu Gold Project also in South Korea.

The program is following up historical drilling from 1975 that intersected very high-grade silver with gold including 0.4 metres at 8.4 g/t gold and 6,121 g/t silver from 110.8 metres.

More detailed results will be reported in due course.

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Tue, 09 Oct 2018 09:36:00 +1100 https://www.proactiveinvestors.com.au/companies/news/206619/peninsula-mines-drilling-gapyeong-for-maiden-graphite-resource-206619.html
<![CDATA[Media files - Peninsula Mines drilling for graphite, gold-silver and zinc at 3 South Korean projects ]]> https://www.proactiveinvestors.com.au/companies/stocktube/10535/peninsula-mines-drilling-for-graphite-gold-silver-and-zinc-at-3-south-korean-projects-10535.html Thu, 20 Sep 2018 09:19:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/10535/peninsula-mines-drilling-for-graphite-gold-silver-and-zinc-at-3-south-korean-projects-10535.html <![CDATA[News - Peninsula Mines starts drilling in Korea with focus on flake graphite at Gapyeong ]]> https://www.proactiveinvestors.com.au/companies/news/205266/peninsula-mines-starts-drilling-in-korea-with-focus-on-flake-graphite-at-gapyeong-205266.html Peninsula Mines Ltd (ASX:PSM) has started drilling two key South Korean projects with the primary focus being the flagship Gapyeong Flake Graphite Project.

Initial resource definition drilling totalling up to 1,200 metres will be carried out at the high-grade project, which is 50 kilometres east of Seoul in the country’s north.

The aim of the 10 to 12 hole program is to define a maiden flake graphite mineral resource.

 

Peninsula’s managing director Jon Dugdale, said: “This is the culmination of a six-month program at Gapyeong of rock-chip and channel sampling, electromagnetics, target definition and landholder access negotiations.

“We can now drill our maiden high-grade graphite resource in South Korea.”

READ: Peninsula Mines presses forward with Korean graphite commercialisation strategy

Dugdale said, “This will be a key milestone, alongside planned spherical graphite metallurgical testing, towards our objective of establishing a flake-graphite production and downstream processing business to supply end-users of high-technology graphite products in South Korea.”

The initial stage of this drilling program is underway at the Osu project in the country’s south testing high-grade gold-silver targets.

Integrated graphite supply strategy

Peninsula is developing an integrated graphite supply strategy targeting graphite end-users in South Korea.

The inaugural resource definition drilling at Gapyeong will test a 400-metre strike length of the exploration target announced on August 15, 2018.

Gapyeong project channel and rock chip sample locations.

Drilling will focus on the most intense electromagnetic (EM) conductivity anomaly immediately to the north of recently announced channel sampling intersections.

These included 13.1 metres at 12.3% Total Graphitic Carbon (TGC), including 6.66 metres at 17.2%; and 12.5 metres at 10.6% TGC, including 2.6 metres at 14.5%.

Drilling underway at Osu

At Osu two diamond holes for about 320 metres are testing the Palgong West lode structure.

Previous limited drilling in 1975 by the Korean Mineral Promotion Corporation, now the Korea Resource Corporation (KORES), intersected very high-grade silver with gold mineralisation in a diamond drill hole.

READ: Peninsula Mines completes second tranche of $600,000 placement

This returned 0.3 metres at 5.1 g/t gold and 2,252 g/t silver from 86.3 metres and 0.4 metres at 8.4 g/t gold and 6,121 g/t silver from 110.8 metres.

The two drill holes at Osu will satisfy the minimum work program requirement for extension of the project tenement for a further three year exploration period.

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Thu, 20 Sep 2018 08:37:00 +1000 https://www.proactiveinvestors.com.au/companies/news/205266/peninsula-mines-starts-drilling-in-korea-with-focus-on-flake-graphite-at-gapyeong-205266.html
<![CDATA[News - Peninsula Mines progresses Korean graphite commercialisation strategy ]]> https://www.proactiveinvestors.com.au/companies/news/205273/peninsula-mines-progresses-korean-graphite-commercialisation-strategy-205273.html Peninsula Mines Ltd (ASX:PSM) is advancing its strategy to become a graphite producer in South Korea by the end of 2020, drilling targets and working to demonstrate concentrate from its fine flake can be converted into high-purity spherical graphite for lithium-ion batteries.

This week the company kicked off a campaign to drill its Gapyeong Flake-Graphite Project northeast of Seoul and high-grade gold-silver targets at Osu.

 

Peninsula’s Gapyeong campaign for its primary project will take in 1,200 metres and 10-12 diamond-drill holes, testing a 400-metre strike it highlighted with a revised exploration target updated last month.

Peninsula managing director Jon Dugdale told Proactive Investors: “Resource drilling at Gapyeong has the objective of generating a key first milestone which is to generate a high-grade graphite resource.

“The second objective, which would be initiated if we have a good share purchase plan, is to complete our spherical graphite test work which is really to get to the point where we can demonstrate the production of a high-purity graphite product at 99.95% graphite and that’s the test work program in Germany.

“The strategy is to produce a graphite business but we want to get it to the point where we’re producing this higher-purity graphite which can go straight into the graphite battery anode.”

“The third objective, which doesn’t cost anything, is to then take those results, we’ve got a resource, we’ve got the spherical graphite test work and convert what are very productive and positive relationships with potential offtake partners into initial agreements.”

A $600,000 sum already raised from sophisticated and professional investors will fund the company’s upcoming drilling efforts at Gapyeong.

The remaining funds raised from investors in the company’s latest share purchase plan of up to $1 million will be used to progress the Korean flake graphite strategy.

Dugdale said: “We’re targeting $600,000 with the share purchase plan and we’ll take up to $1 million.”

West Perth-based Peninsula has been undertaking rock-chip and channel sampling at the project over the past six months, negotiating land access and conducting electromagnetic surveying.

READ: Peninsula Mines completes second tranche of $600,000 placement

The company’s high-grade graphite exploration target is 13 to 17 million tonnes grading 8-11% total graphitic carbon (TGC) and containing 1.1 to 1.7 million tonnes of graphite for its three wholly-owned flake-graphite projects, with most from Gapyeong.

The other two projects are the drilled Eunha North Graphite Project and Peninsula’s secondary project, the Yongwon Graphite Project.

Dugdale said “results were encouraging” from the drilling undertaken at Eunha North and land-access negotiations were ongoing for Yongwon.

Most of the targeted tonnes come from Gapyeong where the collective exploration target for Gapyeong South, Middle and North is 10.5-13.75 million tonnes grading 7-12% TGC for 960,000 tonnes to 1.44 million tonnes.

Dugdale said: “It’s a process very much focused on proving up the resources that you need, as well as proving downstream metallurgical processing capacity of resources to supply the product that the lithium-ion battery industry in Korea needs and doing it right on their doorstep.”

Peninsula’s drilling will initially focus on the area of the most intense electromagnetic anomaly immediately to the north of Gapyeong’s initial target zone where high-grade graphite was returned.

The company already proved it can produce flotation concentrate grading more than 95% total graphitic carbon (TGC) from its fine flake, meeting the required standard for batteries.

Once funds from the share purchase plan have been received, Peninsula will advance stage II and work with a German metallurgical contractor to complete work to prove concentrate from its fine flake can produce spherical graphite of more than 99.95% TGC, the final input to lithium-ion batteries.

READ: Peninsula Mines defines large high-grade flake graphite exploration target in South Korea

Geologist-MD Dugdale said: “The process we’re going through now is to do that metallurgy in Germany, using the latest technology, using sphericalisation machines and purification.”

The Australian Government science arm CSIRO is going to be involved in stage III as the company hopes to successfully use an alternative purification to the “environmental nasty” hydrofluoric (HF) acid which is used in China in spherical graphite production.

Dugdale said: “We’re working with the CSIRO … to produce non-hydrofluoric acid purification and we want to be able to drill the resources at the same time as we’re getting this next step — the spherical graphite work.”

An isometric view of graphitic units at Gapyeong, highlighting proposed drilling.

A staged approach

The company has generated more than 5-kilograms of high-purity concentrate of more than 95% TGC at Eunha during stage I of its strategy and is generating a sample for Gapyeong, to use in the spherical graphite testing.

Dugdale said: “Then we can move through the graphite testing through to feasibility.”

During stage II the company will purify the spherical graphite — targeting more than 99.95% TGC purity — then test the purified product in batteries.

Peninsula’s MD said: “The second stage will be to complete the spherical graphite work in Germany, with the contractor, and the third stage will be the final purification to get to the 99.95% purity, which is also to involve the collaboration with the CSIRO.”

The company has set production targets for its feasibility study in its strategy’s Year 2, next year, based on feedback from offtake companies in Korea.

READ: Peninsula Mines confirms resource targets in South Korea following significant graphite hits

Dugdale said the company hoped to be able to “develop mine production up to say 60,000 tonnes per annum of flake graphite concentrate from which we can recover 36,000 tonnes per annum of spherical graphite, which is the demand that the offtakers have indicated they’ll take.”

Peninsula is also looking to fund and potentially list its wholly-owned Korea Graphite Company Limited (KGCL) subsidiary to develop graphite production capacity and partner with end-users for downstream processing.

Year 3 involves developing production that delivers 26-60 kilotonnes a year capacity at more than 95% TGC concentrate.

A processing facility to produce 12-36 kilotonnes a year of spherical graphite for use in Korean lithium-ion batteries would be a next step.

The company also plans to supply Korean end users with high-value spherical graphite and large-flake concentrate from several sources, including from offshore.

Peninsula is targeting the first three parts of the supply chain.

A required demand

Fine-flake graphite pulls in about US$800 a tonne while spherical graphite price has been on an uptrend due to supplies being retained in China.

This means about a $1,000 a tonne premium has been added in the past 12 months to what is now about a US$3,000 price.

Peninsula has already secured a site for a production facility in Korea located next to a steel plant that can take the inputs the company does not use in spherical graphite.

While the company will not be the world’s biggest graphite product producer, it will hold the competitive advantage of being in the country whose battery-makers are the biggest producers of lithium-ion batteries in the world.

Battery-makers will be able to bring down their trucking miles and maintain the integrity of spherical graphite inputs at a key time when suppliers will continue to be on the hunt for alternative supply sources to China.

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Wed, 19 Sep 2018 21:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/205273/peninsula-mines-progresses-korean-graphite-commercialisation-strategy-205273.html
<![CDATA[News - Peninsula Mines completes second tranche of $600,000 placement ]]> https://www.proactiveinvestors.com.au/companies/news/204682/peninsula-mines-completes-second-tranche-of-600000-placement-204682.html Peninsula Mines Ltd (ASX:PSM) has completed the second tranche of a placement to sophisticated and professional investors raising around $600,000.

Share purchase plan (SPP) offer documentation has also been sent to eligible shareholders.

The total amount raised from the placement and SPP will be up to $1.6 million before costs.

READ: Peninsula Mines presses forward with Korean graphite commercialisation strategy

Placement first and second tranches resulted in the issue of almost 92 million shares raising $551,120.

Directors intend to participate

Directors are intending to participate to the amount of $65,000, of which the placement component will be subject to shareholder approval at the company’s annual general meeting.

Fund raised will primarily be used to fund proposed drilling of the company’s flagship Gapyeong Flake Graphite Project in South Korea and complete metallurgical testing.

Aim to supply lithium-ion battery anode market

This work is aimed at producing high-purity spherical graphite to supply South Korea’s growing lithium-ion battery anode market.

Peninsula will also carry out drill testing at its Ubeong Zinc Project and/or Osu Gold-Silver Project, both also in Korea, should sufficient funding be raised.

READ: Peninsula Mines seeks to raise $600,000 from shareholders in share purchase plan

The SPP allows eligible shareholders to participate in the capital raising on the same terms as the placement.

It will include the issue of about 100 million fully-paid ordinary shares at 0.6 cents per share to raise around $600,000.

In addition, for every two placement shares issued, the company will issue one option with an exercise price of 1 cent per option and an expiry date of April 30, 2020.

READ: Peninsula Mines raises $600,000 to support flake graphite resource drilling in Korea

The issue of placement options and SPP options is subject to shareholder approval.

Peninsula Mines also intends to seek quotation of the placement and SPP options.

If shareholder approval is not obtained the options will not be issued.

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Wed, 12 Sep 2018 08:38:00 +1000 https://www.proactiveinvestors.com.au/companies/news/204682/peninsula-mines-completes-second-tranche-of-600000-placement-204682.html
<![CDATA[News - Peninsula Mines seeks to raise $600,000 from shareholders in share purchase plan ]]> https://www.proactiveinvestors.com.au/companies/news/204184/peninsula-mines-seeks-to-raise-600000-from-shareholders-in-share-purchase-plan-204184.html Peninsula Mines Ltd (ASX:PSM) aims to double the $600,000 raised in a placement to sophisticated and professional investors by inviting eligible shareholders to participate in a share purchase plan (SPP).

The SPP is offered to shareholders with a registered address in Australia or New Zealand on August 24, 2018, on the same terms as the placement.

This will include the issue of up to 100 million fully-paid ordinary shares at 0.6 cents per share to raise approximately $600,000.

READ: Peninsula Mines raises $600,000 to support flake graphite resource drilling in Korea

In addition, for every two placement shares issued, Peninsula will issue one option with an exercise price of 1 cent per option and an expiry date of April 30, 2020.

The total amount raised from the placement and SPP will be up to $1.6 million before costs.

Funds raised are intended to primarily be used to fund proposed drilling of the company's flagship Gapyeong Flake Graphite Project in South Korea.

They are expected to also allow Peninsula to complete metallurgical testing aimed at producing high-purity spherical graphite to supply the lithium-ion battery anode market in South Korea.

 

Peninsula’s managing director Jon Dugdale said, “The key objectives in the short term, are to establish a flake-graphite resource in Korea and, in parallel, complete metallurgical testing to produce high-purity, value-added, spherical graphite, on the doorstep of South Korean lithium-ion battery anode producers.”

READ: Peninsula Mines presses forward with Korean graphite commercialisation strategy

The company also intends to carry out drill testing at its Ubeong Zinc Project and/or Osu Gold-Silver Project, both also in South Korea, should sufficient funding be raised.

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Wed, 05 Sep 2018 10:28:00 +1000 https://www.proactiveinvestors.com.au/companies/news/204184/peninsula-mines-seeks-to-raise-600000-from-shareholders-in-share-purchase-plan-204184.html
<![CDATA[News - Peninsula Mines raises $600,000 to support flake graphite resource drilling in Korea ]]> https://www.proactiveinvestors.com.au/companies/news/203609/peninsula-mines-raises-600000-to-support-flake-graphite-resource-drilling-in-korea-203609.html Peninsula Mines Ltd (ASX:PSM) will use $600,000 raised in a placement to sophisticated investors to start drilling at its flagship Gapyeong Flake Graphite Project in South Korea.

The funds will also help the company complete testing to produce high-purity spherical graphite for the Korean lithium-ion battery market.

As well as the placement at 0.6 cents per share, Peninsula intends to raise a further $600,000 to $1 million through a share purchase plan (SPP).

 

This will allow existing shareholders to participate in the capital raising on the same terms as the placement.

Peninsula’s managing director Jon Dugdale said: "We are very pleased to have received commitments to this $0.6 million placement that will allow us to commence drilling of our high-grade Gapyeong flake-graphite target.

“The key objectives of the company, in the short term, are to establish a flake-graphite resource in Korea and, in parallel, complete metallurgical testing to produce high-purity, value-added, spherical graphite, right on the doorstep of South Korean lithium-ion battery anode producers.”

READ: Peninsula Mines presses forward with Korean graphite commercialisation strategy

Funds from the placement and SPP will also be allocated for drill testing at the Ubeong Zinc Project and/or Osu Gold-Silver Project.

The SPP provides the opportunity for eligible shareholders to subscribe for up to $15,000 worth of shares free of brokerage and fees.

This arrangement requires a waiver from the ASX to permit the SPP issue price to be the same as the placement issue price.

Subject to shareholder approval

It would take the total amount raised from the placement and SPP up to $1.6 million before costs, with directors intending to participate up to $70,000, of which a component will be subject to shareholder approval.

Also requiring the approval of shareholders in regards to the placement and SPP is the issue of one option with an exercise price of 1 cent per option for every two placement or SPP shares held.

If approved, the options will have an expiry date of April 30, 2020.

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Mon, 27 Aug 2018 12:06:00 +1000 https://www.proactiveinvestors.com.au/companies/news/203609/peninsula-mines-raises-600000-to-support-flake-graphite-resource-drilling-in-korea-203609.html
<![CDATA[News - Peninsula Mines enters trading halt ahead of capital raising ]]> https://www.proactiveinvestors.com.au/companies/news/203258/peninsula-mines-enters-trading-halt-ahead-of-capital-raising-203258.html Peninsula Mines Ltd (ASX:PSM) has been granted a trading halt by the ASX pending the release of an announcement regarding a capital raising.

The halt will remain in place until the earlier of the start of normal trading on Thursday, August 21, or when the announcement is released to the market.

READ: Peninsula Mines presses forward with Korean graphite commercialisation strategy

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Tue, 21 Aug 2018 10:47:00 +1000 https://www.proactiveinvestors.com.au/companies/news/203258/peninsula-mines-enters-trading-halt-ahead-of-capital-raising-203258.html
<![CDATA[Media files - Peninsula Mines shoring up graphite operations in battery-hungry South Korea ]]> https://www.proactiveinvestors.com.au/companies/stocktube/10170/peninsula-mines-shoring-up-graphite-operations-in-battery-hungry-south-korea-10170.html Mon, 20 Aug 2018 10:02:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/10170/peninsula-mines-shoring-up-graphite-operations-in-battery-hungry-south-korea-10170.html <![CDATA[News - Peninsula Mines presses forward with Korean graphite commercialisation strategy ]]> https://www.proactiveinvestors.com.au/companies/news/203018/peninsula-mines-presses-forward-with-korean-graphite-commercialisation-strategy-203018.html Peninsula Mines Ltd’s (ASX:PSM) is diligently progressing a strategy to become a graphite producer in South Korea by the end of 2020, working to add to its resources and demonstrate concentrate from its fine flake can be converted into high-purity spherical graphite for lithium-ion batteries.

The company already proved it can produce flotation concentrate grading more than 95% total graphitic carbon (TGC) from its fine flake, meeting the required standard for batteries.

Peninsula is now moving to the next stages of its development plan, undertaking drilling to firm up resources while also proving its spherical graphite will meet battery specifications.

Yesterday the company unveiled an exploration target for graphite drilling at its three wholly-owned projects in South Korea.

 

These include its flagship Gapyeong project northeast of Seoul, its most advanced project, the Eunha North Graphite Project where drilling is already underway, and its secondary project, the Yongwon Graphite Project.

The significant and high-grade graphite target is 13 to 17 million tonnes grading 8-11% TGC and containing 1.1 to 1.7 million tonnes of graphite for the three wholly-owned flake-graphite projects, with most of the tonnes being from Gapyeong.

Peninsula managing director Jon Dugdale told Proactive Investors Australia today: “It’s a dual process very much focused on proving up the resources that you need, as well as proving downstream metallurgical processing capacity of resources to supply the product that the lithium-ion battery industry in Korea needs and doing it right on their doorstep.”

Most of the targeted tonnes come from Gapyeong where the collective exploration target for Gapyeong South, Middle and North is 10.5-13.75 million tonnes grading 7-12% TGC for 960,000 tonnes to 1.44 million tonnes.

READ: Peninsula Mines defines large high-grade flake graphite exploration target in South Korea

West Perth-based Peninsula is concurrently working with a German partner to prove concentrate from its fine flake can produce spherical graphite of more than 99.95% TGC, the final input to lithium-ion batteries.

Geologist MD Dugdale said: “The process we’re going through now is to do that metallurgy in Germany, using the latest technology, using sphericalisation machines and purification, potentially involving the CSIRO.”

The Australian Government science arm CSIRO may get involved in the German testing as the company is hoping to use an alternative purification to the “environmental nasty” hydrofluoric (HF) acid which is used in China in spherical graphite production.

Dugdale said: “We’re working with the CSIRO at the moment to produce non-hydrofluoric acid purification and we want to be able to drill the resources at the same time as we’re getting this next step — the spherical graphite work.”

Highlights from Gapyeong.

A staged approach

The company’s goal for the first stage of processing work is to generate more than 5 kilograms of high-purity concentrate of more than 97% TGC at Eunha and other projects such as Gapyeong, to use in the spherical graphite testing.

It will then purify the spherical graphite in tandem with its partners — targeting more than 99.95% TGC purity — then test the purified product in batteries.

Peninsula’s MD said: “That will get us to the second stage of our three-year plan to get into production, which will be the resource drilling, and then we can move through the graphite testing through to feasibility.”

That first stage, outlined for Year 1 — this year — also including establishing and developing offtake and development partnerships.

Year 2 involves the resource drilling it outlined yesterday, a feasibility study, then funding efforts.

The company has set production targets for that feasibility study based on feedback from offtake companies in Korea.

READ: Peninsula Mines confirms resource targets in South Korea following significant graphite hits

Dugdale said the company hoped to be able to “develop mine production up to say 60,000 tonnes per annum of flake graphite concentrate from which we can recover 36,000 tonnes per annum of spherical graphite, which is the demand that the offtakers have indicated they’ll take.”

Peninsula is also looking to fund and potentially list KGCL to develop graphite production capacity and partner with end-users for downstream processing.

Year 3 involves developing production that delivers 26-60 kilotonnes a year capacity at more than 95% TGC concentrate.

A processing facility to produce 12-36 kilotonnes a year of spherical graphite for use in Korean lithium-ion batteries would be a next step.

The company also plans to supply Korean end users with high-value spherical graphite and large-flake concentrate from several sources, including from offshore.

Peninsula targeting the first three parts of the supply chain.

A required demand

Fine-flake graphite pulls in about US$800 a tonne while spherical graphite price has been on an uptrend due to supplies being retained in China.

This means about a $1000 a tonne premium has been added in the past 12 months to what is now about a US$3000-4000 price.

Peninsula has already secured a site for a production facility in Korea located next to a steel plant that can take the inputs the company does not use in spherical graphite.

While the company will not be the world’s biggest graphite products producer, it will hold the competitive advantage of being in the country whose battery-makers are the biggest producers of lithium-ion batteries in the world.

Battery-makers will be able to bring their trucking miles down, at a time when more and more suppliers are likely to be on the hunt for alternative supply sources to China.

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Thu, 16 Aug 2018 16:10:00 +1000 https://www.proactiveinvestors.com.au/companies/news/203018/peninsula-mines-presses-forward-with-korean-graphite-commercialisation-strategy-203018.html
<![CDATA[News - Peninsula Mines defines large high-grade flake graphite exploration target in South Korea ]]> https://www.proactiveinvestors.com.au/companies/news/202912/peninsula-mines-defines-large-high-grade-flake-graphite-exploration-target-in-south-korea-202912.html Peninsula Mines Ltd (ASX:PSM) has defined an exploration target of 1.1 to 1.7 million tonnes of high-grade, flake graphite from three South Korean projects as part of its integrated graphite supply strategy.

The target from the Gapyeong, Yongwon and Eunha North is 13 to 17 million tonnes grading 8% to 11% total graphitic carbon (TGC).

READ: Peninsula Mines samples high-grades of up to 17.2% TGC at Korean graphite project

While the exploration target is conceptual in nature, Peninsula Mines managing director Jon Dugdale is pleased with the outcome.

The majority of the target, 85%, is from the flagship Gapyeong project at which Peninsula will drill define the graphitic units.

Drilling is planned

Drilling access agreements have been signed with two key private landholders at Gapyeong and, subject to approval of the local Gapyeong-gun Council, initial drilling will begin.

This will target a core 240-metre strike length near the centre of the 1,000-metre mapped strike extent of the targeted Gapyeong graphitic units.

Peninsula is also targeting a maiden mineral resource at Gapyeong, which is the country’s north.

The central zone corresponds with the most intense EM anomalies at Gapyeong, from where thick and high-grade channel sampling results were recently obtained.

The rock chip/channel sample, EM anomalies and exploration target locations at Gapyeong.

Dugdale said: “The thickness, high-grade and steeply dipping geometry of the Gapyeong graphitic units indicate they may be amenable to both open pit and subsequent underground mining.

“This potentially underpins our business model of supplying high-quality graphite to the South Korean lithium-ion battery industry.”

 

Modelling of the EM conductors and mapping of the graphitic units at Gapyeong indicates the two parallel, high-grade, graphitic units have been folded into a synformal structure.

The exploration target has been extended to the projected depth of the synformal fold structure, up to 350 metres vertical depth.

READ: Peninsula Mines confirms resource targets in South Korea following significant graphite hits

Results from recent drilling and channel sampling at the Eunha project will be further evaluated before a decision is made to undertake additional drilling at Eunha North and/or Eunha Roadhouse prospects.

Further drilling at Eunha is considered a lower priority than drilling of the higher-grade Gapyeong and Yongwon projects.

Peninsula has an agreement in place with a key landholder at Eunha North and could resume drilling activities at any stage.

Forest access negotiations

Drilling at Yongwon has been planned but is on hold pending resolution of forest access negotiations with the Chungju City Council.

The timing of approval for drilling access to the project remains uncertain at this stage.

Should an access agreement be negotiated, a diamond drill program of up to 23 holes has been designed.

Test work continues

Metallurgical testing has achieved in excess of 95% TGC concentrate grades for all of the projects included in the exploration target estimate.

Peninsula will now generate a second flake-graphite concentrate sample of at least 5 kilograms from Gapyeong, in addition to the concentrate sample from Eunha.

This sample will be dispatched to Germany for downstream processing tests targeting production of 99.95% purity, uncoated, spherical-graphite.

This would meet the specifications required for lithium-ion battery production as provided by a key South Korean anode manufacturer.

Adding value in-country

South Korea is one of the world’s largest producers of lithium-ion batteries, but obtains downstream graphite products, including spherical graphite for lithium-Ion battery anodes, predominantly from China.

Peninsula has identified the opportunity to mine and process graphite to produce value-added spherical graphite to directly supply lithium-ion battery manufacturers and other graphite end-users in-country.

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Wed, 15 Aug 2018 13:27:00 +1000 https://www.proactiveinvestors.com.au/companies/news/202912/peninsula-mines-defines-large-high-grade-flake-graphite-exploration-target-in-south-korea-202912.html
<![CDATA[News - Peninsula Mines samples high-grades of up to 17.2% TGC at Korean graphite project ]]> https://www.proactiveinvestors.com.au/companies/news/201962/peninsula-mines-samples-high-grades-of-up-to-172-tgc-at-korean-graphite-project-201962.html Peninsula Mines Ltd’s (ASX:PSM) integrated graphite strategy in South Korea has been boosted by thick, high-grade channel sampling results of up to 6.66 metres at 17.2% total graphitic carbon (TGC) at the Gapyeong project.

Initial channel sampling at the project 50 kilometres northeast of Seoul was carried out along manually-dug trenches across the graphitic unit at about 100-metre trench spacing.

The company has also reached an agreement with a local landholder to access the project for drilling and this is expected to begin as soon as possible.

READ: Peninsula Mines confirms resource targets in South Korea following significant graphite hits

Managing director Jon Dugdale said: “These very encouraging channel sampling results have confirmed the substantial thickness and high-grade of the Gapyeong graphitic unit.

“The next step is to drill test the Gapyeong graphite deposit and confirm the potential to define a large, high-grade, flake graphite resource.

“At the same time, we will complete spherical graphite test-work to confirm downstream processing potential to produce this key component of the lithium-ion battery, in Korea.”

 

Individual samples were taken at 0.4 to 1.25-metre intervals and analysed for graphitic carbon and other elements at Nagrom laboratories in Western Australia.

The 6.6-metre result was within a 13.1-metre intersection from 1.16 metres at 12.3% TGC.

Another strong result was 12.5 metres from 0 metres at 10.6% TGC, including 2.6 metres at 14.5% TGC.

Gapyeong project channel and other rock chip sample locations, graphitic units and EM anomalies.

The encouraging channel sampling results have confirmed that the high-grade graphitic unit at Gapyeong is around 10 metres thick (true width) and averages 10% to 17.2% TGC, including up to 22.1%.

Further channel sampling will be planned for areas of sub-crop to further test the 1-kilometre strike of the intensely conductive EM anomaly/graphitic unit.

READ: Peninsula Mines drills potentially high-grade visual graphite in South Korea

Peninsula will now estimate an exploration target for the Gapyeong graphitic unit, incorporating the channel sampling, other rock chip sampling results and modelling of electromagnetic (EM) imagery.

Gapyeong is the largest and most intense EM anomaly that the company has generated in Korea.

Landholder negotiations

As well as reaching an access agreement with one landholder, the company is in advanced negotiations with a second landholder to allow initial drilling.

Drilling will begin as soon as access is established with the objective of confirming the exploration target prior to resource definition drilling to define a maiden mineral resource.

Ongoing test work

Peninsula previously achieved a high-grade, flake-graphite concentrate result of 95.4% TGC from initial batch grinding and flotation testing of a >80 kilogram, 17.7% TGC, composite sample from the deposit.

Independent Metallurgical Operations have been commissioned to process the bulk composite to produce a >5kg, high-grade (94% - 95% TGC), -150µm/+30µm, flake-graphite concentrate sample for spherical graphite testing in Germany.

The spherical graphite test-work will include micronisation, spheronisation and purification with the objective of generating a >99.95% TGC purity, uncoated, spherical graphite product suitable for lithium-ion battery anode production in Korea.

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Wed, 01 Aug 2018 10:10:00 +1000 https://www.proactiveinvestors.com.au/companies/news/201962/peninsula-mines-samples-high-grades-of-up-to-172-tgc-at-korean-graphite-project-201962.html
<![CDATA[News - Peninsula Mines confirms resource targets in South Korea following significant graphite hits ]]> https://www.proactiveinvestors.com.au/companies/news/201700/peninsula-mines-confirms-resource-targets-in-south-korea-following-significant-graphite-hits-201700.html Peninsula Mines Ltd (ASX:PSM) has generated significant graphite intersections from drilling at the Eunha graphite targets in Chungnam Province, South Korea.

The peak intersections from the Eunha North anomaly include:

• 7.82 metres at 2.1% total graphitic carbon (TGC) from 91.94 metres including 3.48 metres at 3.6% TGC;
• 10.87 metres at 2.5% TGC from 56.1 metres including 5.19 metres at 4.0% TGC; and 
• 6.07 metres at 2.2% TGC from 35.13 metres including 2.43 metres at 3.3% TGC.

 

In addition, channel sampling results have been received for selected channels at the Eunha Roadhouse prospect, located 800 metres to the south of Eunha North.

Highlighted intersections include:

• 6.32 metres at 2.2% TGC from 0.68 metres including 1.72 metres at 4.4% TGC; and
• 6.4 metres at 2.1% %TGC from surface including 1.01 metres at 4.3% TGC

Eunha project location, drilling and sampling intersections

In parallel with the drilling and channel sampling at Eunha, a sample has been generated at a concentrate grade of 95.2% TGC and despatched to Germany for spherical graphite test work.

Peninsula managing director Jon Dugdale said: “The generation of these significant graphite intersections, and the generation and despatch of the high-grade concentrate sample for spherical graphite testing, are key milestones towards the company’s objective of producing high-purity spherical graphite to directly supply the Korean lithium-ion battery industry with this critical product.”

Further drilling to define a maiden resource

The graphitic material intersected at Eunha North is associated with a steeply west dipping structure/unit, hosted within a granitic gneiss unit.

The exploration target for Eunha North will be estimated once all available information is collated, including the drilling intersections, channel sampling and flake distribution.

Peninsula will then plan further drilling with the objective of defining a maiden resource.

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Fri, 27 Jul 2018 12:51:00 +1000 https://www.proactiveinvestors.com.au/companies/news/201700/peninsula-mines-confirms-resource-targets-in-south-korea-following-significant-graphite-hits-201700.html
<![CDATA[Media files - Peninsula Mines has 'done the hard work,' expects more progress on many fronts soon ]]> https://www.proactiveinvestors.com.au/companies/stocktube/9763/peninsula-mines-has-done-the-hard-work-expects-more-progress-on-many-fronts-soon-9763.html Tue, 03 Jul 2018 17:59:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/9763/peninsula-mines-has-done-the-hard-work-expects-more-progress-on-many-fronts-soon-9763.html <![CDATA[News - Peninsula Mines identifies new high-grade zinc targets at Ubeong project in South Korea ]]> https://www.proactiveinvestors.com.au/companies/news/199994/peninsula-mines-identifies-new-high-grade-zinc-targets-at-ubeong-project-in-south-korea-199994.html Peninsula Mines Ltd’s (ASX:PSM) detailed ground magnetics has highlighted new high-grade zinc targets at Ilweol prospect of the Ubeong Zinc-Lead-Copper Project in South Korea.

The new magnetic anomalies and massive sulphide targets have doubled the strike length of the Ilweol zinc-lead-copper skarn target to 2 kilometres.

These targets are northwest of previous high-grade zinc-lead-copper intersections.

READ: Peninsula Mines drills potentially high-grade visual graphite in South Korea

Ubeong has potential to be a bonus to Peninsula’s primary strategy of pursuing an integrated graphite strategy in South Korea.

Managing director Jon Dugdale said: “The correlation between magnetic anomalies and previous, high-grade intersections gives us confidence that these new anomalies will also be associated with high-grade sulphides.”

READ: Peninsula Energy shares ride higher following successful block trade

The company is applying modern exploration techniques to this large and underexplored zinc-lead-copper skarn system for the first time.

“We now have multiple drilling targets to systematically test in what is effectively a brownfields target area within 10 kilometres of a producing zinc-lead-silver mine at Keumho,” Dugdale said.

The Ubeong project lies at the southern margin of the highly mineralised Taebaek Basin in eastern South Korea.

READ: Peninsula Mines drilling at Python strikes high-grade zinc and lead

High-grade massive sulphides are associated with magnetic-highs in the 1-kilometre strike length zone of previously identified mineralisation and KORES drilling intersections at Ilweol.

Among these intersections were 7 metres at 14.58% zinc, 1.37% lead and 2.12% copper from 191.9 metres, and 5.5 metres at 10.16% zinc, 1.61% lead and 1.45% copper from 263.6 metres.

Recent ground magnetics identified similar magnetic highs along extensions of the skarn horizon to the northwest.

Soil sampling program

These are now the subject of soil sampling to define drilling targets aimed at locating additional massive sulphides in this highly prospective, 2-kilometre, zinc-skarn corridor.

Targets within the Ubeong project.

The detailed ground magnetics was completed on 100-metre spaced, north-south oriented, lines, with continuous readings recorded along the lines.

Southern Geoscience (SGC) processed the data and produced images, including a Total Magnetic Intensity (TMI) image.

Diamond drilling planned

As well as the sampling, a series of shallow angle diamond drill holes are being planned to follow up the previous KORES intersections.

These proposed holes will be drilled from the valley floor, along strike from the main historical adit that accessed the lowest historical mining levels at around 150 metres below the ridge top.

The main adit remains open and is potentially accessible for future development and production.

This work is subject to access agreements with local private landholders and availability of a suitable rig to drill long, shallow angle, holes.

Python follow-up

Peninsula also plans to undertake follow-up drilling at the Python target at Ubeong.

A previous hole returned 9.31 metres at 1.17% combined zinc and lead from 54.14 metres, including 1.03 metres at 3.03% zinc and 2.53% lead from 61.38 metres.

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Tue, 03 Jul 2018 13:34:00 +1000 https://www.proactiveinvestors.com.au/companies/news/199994/peninsula-mines-identifies-new-high-grade-zinc-targets-at-ubeong-project-in-south-korea-199994.html
<![CDATA[News - Peninsula Mines drills potentially high-grade visual graphite in South Korea ]]> https://www.proactiveinvestors.com.au/companies/news/199274/peninsula-mines-drills-potentially-high-grade-visual-graphite-in-south-korea-199274.html Peninsula Mines Ltd (ASX:PSM) has intersected thick and potentially high-grade graphite (visual estimates) from drilling at the Eunha Project in South Korea.

A total of five drill holes for 488.9 metres of diamond drilling have been completed to date at Eunha North, with the following visually estimated graphite intersections:

• 9.38 metres from 89.71 metres of potentially high-grade (>10%) graphite;
• 20.32 metres from 57.88 metres of potentially high-grade (>10%) graphite; and
• 10.72 metres from 28.96 metres of potentially high-grade (>10%) graphite.

READ: Peninsula Mines prepares for drilling after key graphite tenement granted

The drilling to date indicates that the electromagnetic anomaly at Eunha North is related to a steeply west dipping graphitic unit, averaging about 10 metres true width of potentially high-grade graphite.

The drill hole intersections will now be logged and sampled for total graphitic carbon (TGC) analysis as well as flake distribution, prior to further drilling to define a maiden resource.

In parallel with the resource drilling at Eunha, a >5 kilogram, high-grade, concentrate sample (>95% TGC) is close to being generated.

This sample will be sent to a German spherical graphite processing specialist for spherical graphite testing to study the potential for lithium-ion (graphite) battery anode production in Korea.

Peninsula has been offered foreign investment incentives (leasing and power discounts), to construct a spherical graphite production facility at a key industrial site at Dangjin Port in the same Chungnam Province as the Eunha Project.

READ: Peninsula Mines’ high-purity graphite results confirm potential of high-grade Korean deposit

Peninsula managing director Jon Dugdale said: “The initial intersections of thick and potentially high-grade graphite at Eunha North are a key first step towards defining a mineral resource for potential development and concentrate production.

“The ultimate objective, however, is to take the graphite processing a step further – to produce high-purity spherical graphite on the doorstep of the lithium-Ion battery industry in South Korea.”

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Thu, 21 Jun 2018 13:37:00 +1000 https://www.proactiveinvestors.com.au/companies/news/199274/peninsula-mines-drills-potentially-high-grade-visual-graphite-in-south-korea-199274.html
<![CDATA[News - Peninsula Mines prepares for drilling after key graphite tenement granted ]]> https://www.proactiveinvestors.com.au/companies/news/198650/peninsula-mines-prepares-for-drilling-after-key-graphite-tenement-granted-198650.html Peninsula Mines Ltd (ASX:PSM) has been granted a key exploration and mining tenement at its Gapyeong Graphite Project 50 kilometre east of Seoul in South Korea.

The Gapyeong 125-3 tenement covers the bulk of the known strike length of the high-grade graphitic unit.

Channel sampling and initial drilling are being planned to test for continuity of the high-grade graphite surface mineralisation.

Results averaged more than 16% TGC

Peninsula’s managing director Jon Dugdale said: “Now that the key tenement at Gapyeong is granted we are planning an initial drilling program to confirm the continuity and thickness of this very high-grade graphitic unit, before continuing drilling to define a high-grade graphite resource for potential development.”

Rock ship and channel sampling from March 2018 at Gapyeong averaged more than 16% total graphitic carbon (TGC).

The samples were taken from a highly conductive electromagnetic (EM) target measuring over one kilometre in strike length.

READ: Peninsula Mines begins graphite resource drilling program in South Korea

Subject to final access agreements with local landholders, the drilling will commence following the initial drilling program at the Eunha Graphite Project in Korea which is in progress.

Targeting a flake-graphite concentrate product from Gapyeong

Previous metallurgical concentrate results of 95.4% TGC have confirmed that a saleable flake-graphite concentrate can be produced from the Gapyeong graphitic unit.

Pricing for a >95% TGC, <150µ produce is US$800 per tonne.

A >5 kilogram composite sample is now being generated for down-stream spherical graphite testing in Germany.

Spherical graphite product is priced at US$3,300 per tonne and can be sold to lithium-ion battery anode manufacturers in South Korea.

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Tue, 12 Jun 2018 11:02:00 +1000 https://www.proactiveinvestors.com.au/companies/news/198650/peninsula-mines-prepares-for-drilling-after-key-graphite-tenement-granted-198650.html
<![CDATA[News - Peninsula Energy shares ride higher following successful block trade ]]> https://www.proactiveinvestors.com.au/companies/news/198326/peninsula-energy-shares-ride-higher-following-successful-block-trade-198326.html Peninsula Energy Ltd (ASX:PEN) has completed a block trade of the majority of shares held by Global X Uranium ETF in Peninsula to clients of Patersons Securities.

Patersons successfully negotiated a block trade sale of 24 million shares at 24 cents each to its institutional and high net worth clients.

Peninsula’s shares were last trading about 12% higher intra-day, at 28 cents.

Background

Peninsula’s second largest shareholder, Global X Uranium ETF, is reducing its holdings in uranium mining and development companies, as a result of changes being incorporated in the underlying index.

These changes expanded the underlying index to include select large companies involved in the global nuclear fuel cycle industry, thereby reducing the proportional representation of all uranium mining and development companies included in the index.

Peninsula finance director and chief financial officer David Coyne said: “we are very pleased that Paterson’s have completed this block trade in an orderly manner as it removes existing downward pressure on our share price caused by Global X’s recent underlying index changes”.

READ: Peninsula Energy confirms withdrawal from Karoo to focus on Lance Uranium Project

The company recently withdrew from any further development activities at the Karoo project in South Africa.

This decision was well received as it will allow Peninsula to fully focus on the development of its Lance Uranium Project in Wyoming, US.

Unlike Karoo, Lance is a producing asset which is driving earnings even in a low uranium price environment.

READ: Peninsula Energy outlines efficient transition strategy to low pH operations ]]>
Wed, 06 Jun 2018 14:21:00 +1000 https://www.proactiveinvestors.com.au/companies/news/198326/peninsula-energy-shares-ride-higher-following-successful-block-trade-198326.html
<![CDATA[News - Peninsula Mines begins graphite resource drilling program in South Korea ]]> https://www.proactiveinvestors.com.au/companies/news/197974/peninsula-mines-begins-graphite-resource-drilling-program-in-south-korea-197974.html Peninsula Mines Ltd (ASX:PSM) has commenced a flake-graphite resource drilling program at its Eunha Graphite Project in the Chungnam Province, South Korea. 

The diamond drilling program will test the Eunha North electromagnetic target, with two to four holes initially planned to determine thickness and orientation.

This will be followed by a detailed 40 metres x 40 metres drill out (up to 2,000 metres) of the 500-metre strike length, with the objective of defining a maiden indicated graphite resource for development.

Peninsula is also planning to drill test the 500-metre strike length Roadhouse electromagnetic target where rock-saw channel sampling has been completed on an average 40-metre spaced sections.

The data generated by the channel sampling will be of sufficient quality to be incorporated into JORC resource estimations.

Spherical graphite for the Korean lithium-ion battery industry

Peninsula managing director Jon Dugdale said: “The commencement of diamond drilling at Eunha is a key milestone for the company, as we look to define a maiden graphite resource in parallel with completing downstream spherical graphite testing and working with key end-users to develop high-purity, downstream, spherical graphite production for the Korean lithium-ion battery industry.”

In parallel with the resource drilling program at Eunha, additional metallurgical testing on a combined Eunha North and Roadhouse composite sample grading 6.7% total graphitic carbon (TGC) has confirmed a very-high concentrate grade of 96.7% TGC (target >95% TGC).

READ: Peninsula Mines’ high-purity graphite results confirm potential of high-grade Korean deposit

The Eunha graphite deposit is an ideal candidate for down-stream spherical graphite testing due to a low proportion (13.6%) of <20 micron graphite in the final concentrate sample.

The project is also located close to the Dangjin Port in Chungnam Province, where Peninsula has been offered an industrial site for downstream spherical graphite processing facilities.

The production of spherical graphite is a value-added process that increases the potential value of the graphite product from a current market price of $1,000 per tonne for fine flake graphite to $4,000 for spherical graphite.

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Thu, 31 May 2018 14:42:00 +1000 https://www.proactiveinvestors.com.au/companies/news/197974/peninsula-mines-begins-graphite-resource-drilling-program-in-south-korea-197974.html
<![CDATA[News - Peninsula Mines’ high-purity graphite results confirm potential of high-grade Korean deposit ]]> https://www.proactiveinvestors.com.au/companies/news/197493/peninsula-mines-high-purity-graphite-results-confirm-potential-of-high-grade-korean-deposit-197493.html Peninsula Mines Ltd (ASX:PSM) has received high-purity graphite concentrate results which confirm the potential of the high-grade Gapyeong graphite deposit in South Korea.

Initial metallurgical testing of a high-grade bulk composite produced high-purity concentrate results of 95.4% total graphitic carbon (TGC).

Tests were carried out on a composite Gapyeong sample of greater than 80 kilograms that produced a high-grade confirmatory bulk composite assay of 17.7% TGC.

READ: Peninsula Mines testing value-added spherical graphite processing capability in Korea

Managing director Jon Dugdale said: “These high-purity metallurgical results, from the large and high-grade Gapyeong graphitic unit, pave the way for further spherical graphite testing.

“They will also lead to a resource drilling and channel sampling program to define a substantial resource for potential development.”

 

 

Gapyeong is 50 kilometres northeast of the capital Seoul in the country's north.

READ: Peninsula Mines targets value-added strategy for graphite supply to the Korean battery sector

Peninsula is pursuing an integrated graphite strategy to add maximum value to its graphite resources to serve South Korea’s large and growing lithium-ion battery industry.

It has identified the opportunity to mine and process graphite to produce spherical graphite in-country, to directly supply Korea’s battery manufacturers and other graphite end-users.

The high-purity metallurgical concentrate result has been obtained by Independent Metallurgical Operations Pty Ltd (IMO) from initial batch grinding and flotation testing.

Next steps

The next step at Gapyeong is to generate a larger concentrate sample for spherical graphite testing.

Other near-term steps, following finalisation of access agreements, are channel sampling and resource drilling to potentially define a large, high-grade graphite resource.

Previous rock chip and channel sampling of the deposit indicates an average grade in excess of 16% TGC over a strike length of about 1 kilometre and widths of up to 10 metres.

Peninsula intends to confirm this by systematic channel sampling to begin once surface access agreements are in place.

Electromagnetics indicates continuity of the thick and high-grade graphitic unit to at least 500 metres depth, indicating significant resource tonnage potential that will be estimated following completion of channel sampling.

Spherical graphite testing

IMO has been commissioned to process the Gapyeong bulk composite to produce a high-purity flake-graphite concentrate sample of at least 5 kilograms for spherical graphite testing.

Gapyeong rock chip and metallurgical sample locations, graphitic unit and EM anomalies.

This sample will then be subjected to a testing program designed to generate greater than 99.95% TGC purity, uncoated, spherical graphite suitable for offtakers producing lithium-ion battery anodes in South Korea.

Increased value

Production of spherical graphite is a value-added process that increases the potential value of the graphite product.

The market price for fine flake graphite concentrate is $1,000 per tonne while the price for un-coated, purified spherical graphite is at least $4,000 per tonne.

The company expects to be granted the key Gapyeong 125-3 tenement in the near future.

In this regard, it is in advanced discussions with private landholders in the area while final tenement inspections have been conducted by the Mines Registration Office.

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Wed, 23 May 2018 09:44:00 +1000 https://www.proactiveinvestors.com.au/companies/news/197493/peninsula-mines-high-purity-graphite-results-confirm-potential-of-high-grade-korean-deposit-197493.html
<![CDATA[News - Peninsula Mines drilling at Python strikes high-grade zinc and lead ]]> https://www.proactiveinvestors.com.au/companies/news/197325/peninsula-mines-drilling-at-python-strikes-high-grade-zinc-and-lead-197325.html Peninsula Mines Ltd (ASX:PSM) has intersected significant zinc and lead sulphides in drilling at the Python target of the Ubeong Zinc Project in South Korea.

A diamond hole drilled to test the lead-zinc soil anomaly/skarn target intersected multiple zones of massive, breccia and disseminated sulphides.

This included a 9-metre zone from 54 metres with hand-held XRF readings of up to 22.5% lead and 21.4% zinc, averaging about 1% zinc-lead.

READ: Peninsula Mines zinc-rich results a bonus to South Korean value-adding flake graphite strategy

The base metals have potential to build value to Peninsula’s primary South Korean integrated graphite strategy.

Sulphide breccia from Python including galena (silver), sphalerite (brown) and pyrite.

Managing director Jon Dugdale said it was the first intersection of significant zinc and lead sulphides in the area.

Second deeper diamond hole

A second deeper diamond hole below this hole will test the intersection of the strongly mineralised structures with the skarn-limestone target at depth.

It will target massive to breccia zinc-lead-silver sulphide mineralisation.

TMI ground magnetics at Ubeong on a TMI airborne magnetics image.

Dugdale said: “This intersection of extensive zinc-lead sulphide mineralisation indicates that we have the potential for a large new, high-grade zinc and lead discovery at Python.

“What excites me most is that this high-grade sulphide mineralisation occurs in psammo-pelitic rocks, potentially overlying the targeted skarn massive sulphide mineralisation at depth below the lead-zinc soil anomaly.”

The hole was completed at 150.26 metres after intersecting a 27-metre zone from 42 metres downhole of variably developed massive-layered, breccia and disseminated sulphide mineralisation.

WATCH: Peninsula Mines "on the verge of really building value"

 

 

Dugdale told Proactive Investors in an interview last week that the drilling at Ubeong has potential to result in a very high-grade zinc resource.

Primary graphite focus

The company’s primary focus is developing flake graphite mines and downstream processing to supply the large lithium-ion battery manufacturing market in South Korea.

Drilling is about to begin on the first graphite resource target, while metallurgical test work continues in parallel.

Zinc-rich results from Ubeong in the country’s east have potential to be a bonus to this strategy.

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Mon, 21 May 2018 10:51:00 +1000 https://www.proactiveinvestors.com.au/companies/news/197325/peninsula-mines-drilling-at-python-strikes-high-grade-zinc-and-lead-197325.html
<![CDATA[Media files - Peninsula Mines "on the verge of really building value" ]]> https://www.proactiveinvestors.com.au/companies/stocktube/9322/peninsula-mines-on-the-verge-of-really-building-value--9322.html Fri, 18 May 2018 12:26:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/9322/peninsula-mines-on-the-verge-of-really-building-value--9322.html <![CDATA[News - Peninsula Mines managing director demonstrates confidence in integrated graphite strategy ]]> https://www.proactiveinvestors.com.au/companies/news/197049/peninsula-mines-managing-director-demonstrates-confidence-in-integrated-graphite-strategy-197049.html Peninsula Mines Ltd (ASX:PSM) managing director has demonstrated his confidence in the company’s integrated South Korean graphite production and processing strategy by acquiring shares on-market.

Jon Dugdale has acquired a further 400,000 shares, taking his total holding to 2 million.

The value of the on-market purchase is $4,400.

READ: Peninsula Mines testing value-added spherical graphite processing capability in Korea

Peninsula’s primary focus is to serve the large lithium-ion battery industry in South Korea with quality battery-grade flake graphite mined and processed in-country.

South Korea is the world’s largest producer of lithium-ion battery technology, in which graphite plays an important role.

 

 

Peninsula intends advancing its Korean flake-graphite projects to resource delineation and development and, at the same time, securing supply of high-quality, low-cost, graphite from other sources.

This will allow the company to establish offtake agreements with Korean graphite end users in the Li-ion battery and other high-technology graphite markets, including non-flammable building materials.

Positive test work

Grind and flotation tests on 50-kilogram samples from the Yongwon and Daewon projects produced results suggesting the graphite may be suitable for lithium-ion battery spherical graphite production.

Metallurgy is in progress for the Eunha and Gapyeong flake graphite projects while drilling planned for the projects will target maiden JORC graphite resources.

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Wed, 16 May 2018 09:45:00 +1000 https://www.proactiveinvestors.com.au/companies/news/197049/peninsula-mines-managing-director-demonstrates-confidence-in-integrated-graphite-strategy-197049.html
<![CDATA[News - Peninsula Mines zinc-rich results a bonus to South Korean value-adding flake graphite strategy ]]> https://www.proactiveinvestors.com.au/companies/news/196956/peninsula-mines-zinc-rich-results-a-bonus-to-south-korean-value-adding-flake-graphite-strategy-196956.html Peninsula Mines Ltd (ASX:PSM) has identified very high-grade zinc in previous drilling of the Ilweol tenements at its Ubeong Zinc Project in South Korea.

The company’s primary focus is developing flake graphite mines and downstream processing to supply the large lithium-ion battery manufacturing market in South Korea.

READ: Peninsula Mines targets value-added strategy for graphite supply to the Korean battery sector

These zinc-rich results from Ubeong in the country’s east have potential to be a bonus to the graphite strategy.

One diamond drill hole at Ilweol returned up 7.0 metres from 191.9 metres at 14.58% zinc, 1.37% lead and 2.12% copper.

Another returned 2.1 metres at 18.66% zinc, 11.08% lead and 3.21% copper from 253.6 metres, and 5.5 metres at 10.16% zinc, 1.61% lead and 1.45% copper from 263.6 metres.

Part of report from KORES

Results were part of a report released to the company by Korea Resources Corporation (KORES) following the grant of the Ilweol tenements.

 

 

Managing director Jon Dugdale said: “These very high-grade zinc intersections, drilled by KORES, effectively represent the discovery holes into a high-grade massive sulphide zinc-lead-copper skarn.

“Further drilling is being planned to test the continuity and extent of this very high-grade zinc with lead and copper skarn, subject to landholder access discussions which are underway.”

The high-grade massive and breccia sulphide mineralisation at Ilweol is associated with a limestone-skarn horizon over a strike length of at least 2 kilometres.

This was previously mined from the 1940s to the 1970s to a depth of about 150 metres, accessed by an adit from the valley floor which is still accessible.

Further drilling planned

Follow-up drilling is being planned from the main northwest-southeast valley floor some 430 metres east of the main structure or from underground if safe serviceable access can be re-established.

The first option is subject to the outcome of landholder discussions.

Python target to be tested

Peninsula will also test the Python lead-zinc target after completing a drilling program at Chilbo prospect where a diamond hole has been completed at 400.1 metres.

This tested extensions of the Taipan zinc target and continued to test the magnetic interpreted ‘core’ of the porphyry-skarn system at Viper target.

Processing of drill core, including hand-held XRF measurements and magnetic susceptibility, is progressing.

The soil anomaly to be tested at Python was identified in a ground magnetics program.

Drilling will test the projected position of skarn mineralisation at depth below the soil anomaly.

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Tue, 15 May 2018 09:28:00 +1000 https://www.proactiveinvestors.com.au/companies/news/196956/peninsula-mines-zinc-rich-results-a-bonus-to-south-korean-value-adding-flake-graphite-strategy-196956.html
<![CDATA[Media files - Peninsula Mines moves to deliver a new capability to South Korea ]]> https://www.proactiveinvestors.com.au/companies/stocktube/9136/peninsula-mines-moves-to-deliver-a-new-capability-to-south-korea-9136.html Tue, 24 Apr 2018 22:13:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/9136/peninsula-mines-moves-to-deliver-a-new-capability-to-south-korea-9136.html <![CDATA[News - Peninsula Mines testing value-added spherical graphite processing capability in Korea ]]> https://www.proactiveinvestors.com.au/companies/news/195608/peninsula-mines-testing-value-added-spherical-graphite-processing-capability-in-korea-195608.html Peninsula Mines Ltd (ASX:PSM) has launched a program to test value-added processing of very high-purity spherical graphite for use in lithium-ion batteries.

The program will test graphite bulk samples from the company’s Eunha Graphite Project and possibly the Gapyeong project, both in South Korea.

Testing is designed to meet end-user specifications and demand in South Korea, which is one of the world’s largest lithium-ion battery markets.

READ: Peninsula Mines targets value-added strategy for graphite supply to the Korean battery sector

Managing director Jon Dugdale said: “Peninsula is pursuing a strategy to mine and process graphite concentrate then produce high-purity, value-added, spherical graphite.”

Although South Korea is a significant producer of lithium-ion batteries, most downstream graphite products, including spherical graphite for battery anodes, is predominantly from China.

Peninsula has identified the opportunity to mine and process graphite to produce value-added spherical graphite locally.

READ: Peninsula Mines looks to shore up graphite offtake agreements with Korean end-users

It would then directly supply lithium-ion battery manufacturers and other graphite end-users in-country.

Independent Metallurgical Operations (IMO) has been appointed to manage the integrated metallurgical testing program.

High-grade TGC results

Peninsula has initiated the program after receiving high-grade total graphitic carbon (TGC) results averaging 7.6% TGC from Eunha metallurgical samples.

These samples will be added to the bulk composite that produced the initial, high-purity, concentrate results of 97.6% TGC.

IMO will then generate a high-purity concentrate sample of at least 5 kilograms for downstream spherical graphite test work.

This will be sent to a German firm specialising in spherical graphite process development and engineering which will undertake micronisation and spheroidisation of flake graphite.

The next stage of the process involves purification of the spherical graphite targeting greater than 99.95% TGC purity followed by electrochemical (battery) testing.

This final stage will potentially be carried out in collaboration with Australia’s CSIRO.

Encouraging Gapyeong results

Peninsula has also received very high-grade results averaging 17.5% TGC from samples collected for metallurgical testing from its Gapyeong project.

IMO will composite these samples to produce a bulk-sample of at least 100 kilograms for initial batch testing before further processing to produce a second sample for spherical graphite testing.

Drilling and channel sampling

The initial value-added processing test program involving Eunha samples will be carried out in parallel with drilling and channel sampling to generate maiden graphite resources.

Drilling access has been achieved for Eunha North and is close to being finalised for the Roadhouse area with drilling planned to start in mid to late-May.

Channel sampling is also progressing to determine the width, grade and orientation of the graphitic unit(s).

Peninsula and its subsidiaries have tenements and tenement applications in South Korea with fine to large and jumbo flake graphite identified.

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Tue, 24 Apr 2018 09:42:00 +1000 https://www.proactiveinvestors.com.au/companies/news/195608/peninsula-mines-testing-value-added-spherical-graphite-processing-capability-in-korea-195608.html
<![CDATA[News - Peninsula Mines targets value-added strategy for graphite supply to the Korean battery sector ]]> https://www.proactiveinvestors.com.au/companies/news/194190/peninsula-mines-targets-value-added-strategy-for-graphite-supply-to-the-korean-battery-sector-194190.html Peninsula Mines Ltd (ASX:PSM) is focused on positioning itself to capture maximum value within the graphite production and downstream processing chain in south Korea - the world’s largest producer of lithium-ion (graphite) battery technology.

It aims to do this by advancing its Korean flake-graphite projects to resource delineation and development and, at the same time, securing supply of high-quality, low cost, graphite from other sources. 

This will allow Peninsula to establish off-take agreements with Korean graphite end users in the Li-ion battery and other high-technology graphite markets.

Extracting the maximum value from the supply chain

Battery grade flake - graphite attracts a premium price due to its use in lithium-ion battery anodes, which are produced in south Korea.

The production and downstream processing of graphite, from mine to value-added product for Li-Ion battery anodes, can be summarised in four stages:

Korea was a world-leading graphite producer in the 1970’s, but currently has no active graphite mining or downstream processing in-country. 

Peninsula has established several flake-graphite projects in south Korea and aims to position itself so it can supply Korean end users with battery grade and other value-added flake-graphite products such as expandable graphite for non-flammable building materials.

Multi-commodity portfolio of projects in Korea

Peninsula is advancing a series of mineral resource projects in south Korea targeting two groups of commodities, graphite and lithium, and base and precious metals.

Peninsula’s key projects in south Korea include:

• Flake graphite: Yongwon, Daewon, Eunha and Gapyeong;
• Lithium: Tonggo;
• Polymetallic: Ubeong; and
• Gold-silver: Osu.

South Korea is a major end-user of high-tech commodities

South Korea is the world’s largest lithium-ion battery manufacturer.

The country is highly prospective for graphite and was a leading producer up until the 1980s.

Peninsula is establishing offtake agreements with Korean end-users at the same time as advancing the development of projects to meet the end-users demands and specifications.

Projects have high-value flake-graphite potential

Peninsula has completed petrography showing large to jumbo flakes of graphite at the Yongwon, Daewon, Eunha and Gapyeong Graphite Projects.

Grind and flotation tests on 50-kilogram samples from Yongwon and Daewon produced results suggesting the graphite may be suitable for lithium-ion battery spherical graphite production.

Yongwon flotation results showed 97% total graphitic content (TGC) concentrate with 87.3% recovery and Daewon results showed 96.6% TGC with 81.8% recovery.

In addition, metallurgy is in progress for the Eunha and Gapyeong flake-graphite projects and spherical graphite testing is planned to confirm the battery grade of the Korean graphite. 

Upcoming drilling planned for the Korean flake-graphite projects will be targeting maiden JORC graphite resources for future development.

Signed off-take and development cooperation agreement

In January 2018, Peninsula signed a binding large-flake graphite supply agreement with DNI Metals (CNSX:DNI).

Under the agreement DNI Metals will supply up to 24,000 tonnes per annum of large-flake graphite from its Madagascar projects.

This enables the company to advance towards off-take agreements with Korean manufacturers of lithium-ion batteries and other high-technology large flake graphite applications such as expandable graphite for non-flammable building cladding products.

READ: Peninsula Mines looks to shore up graphite offtake agreements with Korean end-users

In June 2017, Peninsula also signed a memorandum of understanding (MoU) with Korean expandable graphite producer, Graphene Korea Co. Ltd.

The MoU envisaged long-term strategic cooperation with respect to off-take of graphite concentrate and development of graphite mining and processing projects both within and potentially outside Korea.

Fully funded for planned diamond drill program

Peninsula is fully funded to carry out its planned 2018 program of diamond drilling and geophysical and geochemical sampling to define additional drill targets.

The funding will also enable metallurgical testing and progress towards off-take agreements with Korean end-users.

The company recently secured $2 million in funding via a share placement.

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Wed, 04 Apr 2018 08:12:00 +1000 https://www.proactiveinvestors.com.au/companies/news/194190/peninsula-mines-targets-value-added-strategy-for-graphite-supply-to-the-korean-battery-sector-194190.html
<![CDATA[News - Peninsula Mines looks to shore up graphite offtake agreements with Korean end-users ]]> https://www.proactiveinvestors.com.au/companies/news/189974/peninsula-mines-looks-to-shore-up-graphite-offtake-agreements-with-korean-end-users-189974.html Peninsula Mines Ltd’s (ASX:PSM) negotiation of a binding supply letter of agreement with Canadian-listed DNI Metals Inc. (CNSX:DNI) should assist the company in meeting its goal of establishing a vertically integrated graphite group.

Peninsula and its wholly-owned subsidiary Korea Graphite could now progress to finalising binding offtake agreements with Korean end-users.

A commitment by DNI to supply up to 24,000 tonnes per year of flake graphite to Peninsula and its subsidiary may also be beneficial in developing supply from both offshore and Korean projects.

Ratification of the agreement is subject to Korea Graphite finalising offtake agreements with Korean end users.

Parties look to fast track DNI’s Madagascar flake graphite projects

As Peninsula flagged in 2017, it will work in conjunction with Korea Graphite and DNI in assessing potential collaborative development opportunities.

This could include a fast tracking of DNI’s flake-graphite projects located in Madagascar.

Madagascar has been producing high-purity, large-flake graphite for over 100 years and with DNI’s large flake graphite deposits close to port, there is the potential to minimise costs.

Peninsula and Korea Graphite continue to discuss collaborative development opportunities

The binding supply agreement is seen as a precursor to the establishment of possible offtake agreements with Korean flake graphite end-users, potentially marking the start of Peninsula’s Korean graphite business.

In management’s view, such a development would assist the company in establishing a graphite development and production business in Korea.

This line of thinking is supported by the relationships that Peninsula has forged with end users that are involved in the production of lithium-ion anodes and other new technologies.

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Mon, 15 Jan 2018 10:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/189974/peninsula-mines-looks-to-shore-up-graphite-offtake-agreements-with-korean-end-users-189974.html
<![CDATA[News - Peninsula Mines hits massive sulphide zones in South Korea ]]> https://www.proactiveinvestors.com.au/companies/news/188978/Peninsula-Mines-hits-massive-sulphide-zones-in-South-Korea-188978.html Peninsula Mines Ltd (ASX:PSM) has intersected massive and disseminated sulphides at the Ubeong Zinc-Silver and Copper-Gold Project in South Korea.

Diamond drilling of the Tiger target in the Chilbo historical workings intersected two zones.

A 10.65 metre intersection from 101.4 metres returned high-grade X-ray fluorescence (XRF) analysis results of up to 4,568 g/t silver, 2.97% lead and 0.7% copper.

Another 2.22 metre intersection from 131.1 metres returned XRF results of up to 15.24% zinc and 949 g/t silver.

Intervals to be sent for analyses

Selected sulphide-bearing intervals will be submitted for full interval analyses at ALS in Perth in the coming weeks.

Following assessment of results Peninsula will continue drilling at Ubeong in 2018 aimed at testing the interpreted core of the large-scale porphyry-skarn base and precious metals system.

Next hole will test Taipan target

The next hole is expected to be drilled during the first quarter of 2018, after the winter in South Korea, to test under intense zinc and copper geochemistry at Taipan target.

Peninsula has secured six granted tenements and multiple tenement applications over the eastern 10 kilometre strike length of a limestone-skarn unit.

This includes the historical Chilbo mine workings and adjoins the operating Keumho Zinc-Lead-Silver Mine.

Peninsula has gold, silver, base metals, molybdenum and tungsten targets in South Korea.

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Tue, 19 Dec 2017 11:18:00 +1100 https://www.proactiveinvestors.com.au/companies/news/188978/Peninsula-Mines-hits-massive-sulphide-zones-in-South-Korea-188978.html
<![CDATA[News - Peninsula Mines to reveal latest drilling details from South Korea ]]> https://www.proactiveinvestors.com.au/companies/news/188908/peninsula-mines-to-reveal-latest-drilling-details-from-south-korea-188908.html Peninsula Mines Ltd (ASX:PSM) recently boosted its cash balance by $2 million through an oversubscribed placement, which included support from major shareholder Aurora Minerals Ltd (ASX:ARM).

Peninsula has several interests in South Korea, which includes copper, zinc and precious metals, along with flake graphite.

South Korea is the world’s largest Li-ion (graphite) battery manufacturer, and has a growing market for expandable graphite.

The company has this morning been granted a trading halt by the ASX, pending drilling details.

The halt will remain in place until the opening of trade on Wednesday 20th December 2017, or earlier if an announcement is made to the market.

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Mon, 18 Dec 2017 09:45:00 +1100 https://www.proactiveinvestors.com.au/companies/news/188908/peninsula-mines-to-reveal-latest-drilling-details-from-south-korea-188908.html
<![CDATA[News - Peninsula Mines places stock to major shareholder as results expected ]]> https://www.proactiveinvestors.com.au/companies/news/170012/peninsula-mines-places-stock-to-major-shareholder-as-results-expected-170012.html Peninsula Mines (ASX:PSM) has gained shareholder approval to place $250,000 worth of shares to its major shareholder, Aurora Minerals (ASX:ARM).

The investment by Aurora, alongside a further investment by Martin Pyle, director, completes the second and final tranche of the $1.68 million share placement.

Meanwhile, the accelerated and multi-commodity exploration program continues in South Korea, with results from a number of programs expected shortly.

With a portfolio of eight projects in South Korea, many with active exploration programs, news flow is expected to continue, keeping the company leveraged to resource discovery.

The multiple exploration programs in action are designed to fast-track several key projects to the drill-target definition stage.


Background

Peninsula’s portfolio of projects in South Korea consists of:

- Wolmyeong (graphite), Daewon (graphite), Yongwon (graphite);
- Daehyeon (lithium), Dongsugok (lithium);
- Osu (gold-silver);
- Ubeong (zinc-silver); and
- Darhwa (molybdenum-tungsten).

Peninsula also has an interest in the Camel Hills project located in the Archaean Yilgarn Block, Western Australia. It is prospective for copper, nickel, gold and magnetite iron ore.


Use of funds

The received funding will go towards Peninsula’s on-going and accelerated exploration and test-work programs that include:

- Geophysics, mapping, rock-chip and soil sampling at the Ubeong zinc-silver project;
- Electromagnetic geophysics and channel sampling as well as the completion of graphite-concentrate metallurgy on the Yongwon graphite project; and
- Channel sampling across the gold-silver-vein system at the Osu gold project,

The aim is to fine tune drilling targets.

Results from all of these programs will be released when available and compiled, and will allow Peninsula to define drilling targets to be tested as soon as possible during the 2017 field season.

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Tue, 06 Dec 2016 14:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/170012/peninsula-mines-places-stock-to-major-shareholder-as-results-expected-170012.html
<![CDATA[News - Peninsula Mines Ltd granted key tenement at flake graphite project ]]> https://www.proactiveinvestors.com.au/companies/news/169218/peninsula-mines-ltd-granted-key-tenement-at-flake-graphite-project-169218.html Peninsula Mines Ltd (ASX:PSM) is planning resource definition drilling after being granted a key tenement over the Yongwon flake graphite deposit located in South Korea.

Yongwon is one of Peninsula’s several key projects in South Korea, which provide exposure to commodities including graphite, lithium, zinc-silver and gold.

The company has multiple exploration programs in action, which are designed to fast-track several key projects to the drill-target definition stage.

Jon Dugdale, CEO, commented: “The ultimate objective is to progress key projects towards resource definition and ultimately development, possibly across multiple projects and commodities given the diversity offered by our portfolio.”


Background

Peninsula’s portfolio of projects in South Korea consists of:

- Wolmyeong (graphite), Daewon (graphite), Yongwon (graphite);
- Daehyeon (lithium), Dongsugok (lithium);
- Osu (gold-silver);
- Ubeong (zinc-silver); and
- Darhwa (molybdenum-tungsten).

Peninsula also has an interest in the Camel Hills project located in the Archaean Yilgarn Block, Western Australia. It is prospective for copper, nickel, gold and magnetite iron ore.


Yongwon graphite update

During October, an exploration right was granted within the Yongwon graphite project.

Additional channel sampling is underway and an electromagnetic program has just been completed, aimed at defining drilling targets once metallurgical results are optimised.

Previous channel sampling has returned 4.6 metres at 9.05% total graphitic carbon (TGC) including 1.7 metres at 11.9% TGC.


Dongsugok lithium update

The Dongsugok project hosts the Tonggo lithium prospect where further stream sediment sampling has confirmed a continuous 2-3 kilometre strike length of anomalous lithium values.

The results indicate an association with a corridor of pegmatites 100 metres wide and continuing for the 2-3 kilometre strike length.

Next steps will include ridge and spur soil sampling across the anomalous pegmatite trend, with the objective of locating lithium bearing zones that may represent drilling targets.


Ubeong zinc-silver update

At the Ubeong zinc-silver project, additional massive sulphide/gossan zones have been identified and sampled.

A geophysical program has commenced to define drilling targets for high-grade mineralisation.

Previous rock chip sampling results at Ubeong include grades of up to 25.6% zinc, 669 g/t silver and 19.1% lead.


Osu gold update

At the Osu gold project, channel sampling has been conducted across a 30 metre section of mineralised veins and shear zones.

Results are being compiled and the proposed drilling program is being fine-tuned to target the high-grade veins and shoots.

Previously, the individual veins within this zone have assayed grades of up to 20.3 g/t gold and 153 g/t silver.


Analysis

Peninsula is fast-tracking exploration of its high-priority targets in South Korea with the objective of defining drilling targets on several key projects.

The company has generated multiple opportunities for discovery over a range of commodities, all with a positive outlook and off-take potential in-country. 

Going forward, the focus will be delivering on its strategy to progress key projects to the drill target definition stage.

Shares in Peninsula have doubled year to date, currently priced at $0.018.

With a portfolio of eight projects in South Korea, many with active exploration programs, news flow is expected to continue, keeping the company leveraged to resource discovery.

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Mon, 21 Nov 2016 10:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/169218/peninsula-mines-ltd-granted-key-tenement-at-flake-graphite-project-169218.html
<![CDATA[News - Peninsula Mines Ltd samples up to 40% zinc in South Korea ]]> https://www.proactiveinvestors.com.au/companies/news/168234/peninsula-mines-ltd-samples-up-to-40-zinc-in-south-korea-168234.html Peninsula Mines Ltd (ASX:PSM) has sampled grades of up to 39.7% zinc and 294 g/t silver from outcropping massive-sulphide lodes at the Ubeong project in South Korea.

Results confirm the high-grade zinc and silver mineralisation at the historical Chilbo Mine.

Peninsula will now accelerate the exploration program with the objective of defining drill targets.

Jon Dugdale, CEO, commented:

“The exceptionally high-grades in outcrop samples of up to 40% zinc, with silver, lead, copper and gold, demonstrate the high-grade massive sulphide potential within the highly prospective 10-kilometre strike length of the limestone skarn unit at Ubeong, over which the company has 21 tenement applications.”


Channel sampling results

Channel sampling results come from outcropping, high-grade, zinc-silver sulphide mineralisation associated with the historical Chilbo Mine workings.

Highlights include:

- Pit/Stope 1: 39.7% zinc, 294 g/t silver and 2.0% lead;
- Pit/Stope 1: 23.1% zinc, 177 g/t silver and 1.3% lead;
- Pit/Stope 2: 26.4% zinc, 142 g/t silver and 0.7% lead;
- Stope 3: 4.39% zinc and 1.32 g/t gold; and
- Pit 4: 2.91% copper and 177 g/t silver.

An aggressive follow up program has commenced including detailed ridge and spur soil sampling to detect further surface mineralisation and geophysics.


Background

Peninsula’s portfolio of projects in South Korea consists of:

- Wolmyeong (graphite), Daewon (graphite), Yongwon (graphite);
- Daehyeon (lithium), Dongsugok (lithium);
- Osu (gold-silver);
- Ubeong (zinc-silver); and
- Darhwa (molybdenum-tungsten).

Peninsula also has an interest in the Camel Hills project located in the Archaean Yilgarn Block, Western Australia. It is prospective for copper, nickel, gold and magnetite iron ore.


Ubeong zinc-silver project

Ubeong is comprised of 21 tenement applications over the eastern 10 kilometres of strike length of a highly prospective limestone-skarn unit.

This includes the historical Chilbo Zinc Mine and adjoins the operating Kumho Zinc Mine.

The high-grade zinc-silver mineralisation associated with the Chilbo Mine occurs towards the eastern end of the skarn-unit.

Channel sampling follows up results from September which produced grades of up to 25.6% zinc, 669 g/t silver and 19.1% lead from rock chip sampling.


Analysis

Exploration at Ubeong has once again resulted in not only high grade, but also near-surface zinc and silver mineralisation.

This bodes well for any potential future project economics.

Discovery potential is supported by 10 kilometres of strike length skarn-limestone host rock, which lies directly along strike from the operating Kumho Zinc Mine.

Peninsula is leveraged to exploration upside through multiple exploration programs at multiple projects.

Shares in Peninsula are trading up over 120% year to date, currently priced at $0.02.

Jon Dugdale, Peninsula’s recently appointed CEO is looking to drive a discovery within South Korea and the Ubeong project is proving to be integral for the company.

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Mon, 31 Oct 2016 12:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/168234/peninsula-mines-ltd-samples-up-to-40-zinc-in-south-korea-168234.html
<![CDATA[News - Peninsula Mines Ltd is active in graphite, lithium, gold and silver-zinc ]]> https://www.proactiveinvestors.com.au/companies/news/168111/peninsula-mines-ltd-is-active-in-graphite-lithium-gold-and-silver-zinc-168111.html Peninsula Mines Ltd (ASX:PSM) has raised $1.68 million recently that will support the continued success at its multiple South Korean projects that are exhibiting prospectivity.

Graphite petrography has shown large to jumbo graphite flakes at the Yongwon and Daewon projects.

Strongly anomalous lithium stream sediment results have been collected over a 3-kilometre-long trend at the Tonggo prospect, within the Dongsugok project.

Rock chip sampling at the Ubeong zinc-silver project has yielded grades of up to 25.6% zinc, 669 g/t silver and 19.1% lead.

Finally, drilling at the Osu gold project is planned after sampling generated grades of up to 20.3 g/t gold and 318 g/t silver.


Background

Peninsula’s portfolio of projects in South Korea consists of:

- Wolmyeong (graphite), Daewon (graphite), Yongwon (graphite);
- Daehyeon (lithium), Dongsugok (lithium);
- Osu (gold-silver);
- Ubeong (zinc-silver); and
- Darhwa (molybdenum-tungsten).

Peninsula also has an interest in the Camel Hills project located in the Archaean Yilgarn Block, Western Australia. It is prospective for copper, nickel, gold and magnetite iron ore.


New CEO to drive discovery

During August, Jon Dugdale was appointed CEO of Peninsula to focus on the opportunities at hand for mineral discovery and development within South Korea.

Jon has 30 years of mining industry experience, including a 20-year track record of exploration discovery and 10 years of investment/finance and director/CEO experience in Australia and the
Asian region.

Most recently Jon was managing director of Red Mountain Mining Ltd (ASX:RMX) where his focus was advancing the Batangas gold project from exploration to development in the Philippines.

Jon has shown his ability to operate in international environments and in particular his recent experience in Asia will be valuable to Peninsula.


Project updates

The updates for projects that were a focus during the September quarter include:

- Yongwon and Daewon (graphite): Metallurgical test work is in progress with the objective of optimising concentrate grades to be suitable for commercial markets;
- Wolmyeong (graphite): Mapping, trenching, and channel sampling to be conducted;
- Donsugok and Daehyeon (lithium): Additional stream sediment, rock chip and soil sampling programmes are underway;
- Ubeong (zinc-silver): Additional rock chip/channel, stream sediment and ridge and spur soil sampling programs are in progress and geophysics is being considered – with the objective of defining drilling targets; and
- Osu (gold): Peninsula intends to complete up to 1,000 metres of diamond drilling, subject to approvals and access being granted.

The activity across multiple projects in South Korea will likely be a driver of news flow over the coming months.

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Thu, 27 Oct 2016 10:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/168111/peninsula-mines-ltd-is-active-in-graphite-lithium-gold-and-silver-zinc-168111.html
<![CDATA[News - Peninsula Mines Ltd ready to accelerate South Korean exploration ]]> https://www.proactiveinvestors.com.au/companies/news/166980/peninsula-mines-ltd-ready-to-accelerate-south-korean-exploration-71370.html Peninsula Mines Ltd (ASX:PSM) has secured $1.68 million through the private placement of circa 80 million shares priced at $0.021.

Funds will be used to immediately accelerate exploration of Peninsula’s highly-prospective graphite, lithium, gold-silver and zinc-silver projects in South Korea.

The placement will be conducted in two tranches.

Jon Dugdale, chief executive officer, commented: "We are delighted by the strong support from new investors and existing shareholders in this capital raising.

"This represents a strong endorsement of our plan to immediately accelerate exploration of our highly-prospective graphite, lithium, gold-silver and zinc-silver projects in South Korea, then drill-test the key targets."


Background

Peninsula’s portfolio of projects in South Korea consists of:

- Wolmyeong (graphite), Daewon (graphite), Yongwon (graphite);
- Daehyeon (lithium), Dongsugok (lithium);
- Osu (gold-silver); and
- Ubeong (zinc-silver).

Peninsula also has an interest in the Camel Hills project located in the Archaean Yilgarn Block, Western Australia. It is prospective for copper, nickel, gold and magnetite iron ore.


Graphite projects

Sampling of the company’s key graphite projects has continued to generate high total graphitic carbon (TGS) grades, in particular from:

- Wolmyeong: up to 76% TGC;
- Daewon: up to 24.8% TGC; and
- Yongwon: up to 18% TGC.

Yongwon’s graphite schist has been traced over a 300 metre strike with widths up to 20 metres. The majority of the graphite flakes observed are large, with some very large, jumbo sized flakes observed.

Daewon’s graphite schist has been traced over a 350 metre strike with widths up to 10 metres. Sampled graphite occurs as regularly disseminated, highly oriented graphite flakes including some large flakes.

Wolmyeong’s graphite schist has been traced over a 9 kilometre strike with testing indicating predominantly amorphous fine-grained type graphite.


Upcoming news flow

News flow is set to increase for Peninsula, with follow up sampling currently in progress at its lithium and zinc-silver projects.

The objective of the sampling is to define drilling targets.

Metallurgical testing is also being finalised to determine saleable concentrate grades for key graphite projects.

Preparations are well advanced to commence drilling of the high-grade gold-silver target at the Osu Project.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 06 Oct 2016 09:10:00 +1100 https://www.proactiveinvestors.com.au/companies/news/166980/peninsula-mines-ltd-ready-to-accelerate-south-korean-exploration-71370.html
<![CDATA[News - Peninsula Mines Ltd pockets funds for graphite, lithium, gold and zinc ]]> https://www.proactiveinvestors.com.au/companies/news/166498/peninsula-mines-ltd-pockets-funds-for-graphite-lithium-gold-and-zinc-71235.html Multi-commodity explorer Peninsula Mines Ltd (ASX:PSM) has received strong investor support for its company strategy, highlighted by an over-subscribed placement of $1.6 million to institutional and sophisticated investors.

Peninsula has received commitments for 76 million shares at $0.021, with major shareholder Aurora Minerals Ltd (ASX:ARM) to invest $250,000, subject to shareholder approval.

Directors and executives of Peninsula will invest $35,000, subject to approval.

Funds raised will accelerate exploration on Peninsula’s projects in South Korea, and drill test key graphite, lithium, gold-silver and zinc-silver targets

Jon Dugdale, CEO, commented:

"We are extremely pleased with the strong demand from both new and existing shareholders and the support shown by institutional and sophisticated investors for this placement.

"We now plan to accelerate exploration of our highly-prospective graphite, lithium, gold-silver and zinc-silver projects, with the objective of defining multiple targets for drilling."


Portfolio

- Wolmyeong (graphite), Daewon (graphite), Yongwon (graphite);
- Daehyeon (lithium), Dongsugok (lithium);
- Osu (gold-silver); and
- Ubeong (zinc-silver).


Graphite projects

Sampling of the company’s key graphite projects has continued to generate high total graphitic carbon (TGS) grades, in particular from:

- Wolmyeong: up to 76% TGC;
- Daewon: up to 24.8% TGC; and
- Yongwon: up to 18% TGC.

Yongwon’s graphite schist has been traced over a 300 metre strike with widths up to 20 metres. The majority of the graphite flakes observed are large, with some very large, jumbo sized flakes observed.

Daewon’s graphite schist has been traced over a 350 metre strike with widths up to 10 metres. Sampled graphite occurs as regularly disseminated, highly oriented graphite flakes including some large flakes.

Wolmyeong’s graphite schist has been traced over a 9 kilometre strike with testing indicating predominantly amorphous fine-grained type graphite.


Analysis

News flow is set to increase for Peninsula, with follow up sampling currently in progress at its lithium and zinc-silver projects.

The objective of the sampling is to define drilling targets.

Metallurgical testing is also being finalised to determine saleable concentrate grades for key graphite projects.

Preparations are well advanced to commence drilling of the high-grade gold-silver target at the Osu Project.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Tue, 27 Sep 2016 12:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/166498/peninsula-mines-ltd-pockets-funds-for-graphite-lithium-gold-and-zinc-71235.html
<![CDATA[News - Peninsula Mines Ltd to lift cash position for South Korean projects ]]> https://www.proactiveinvestors.com.au/companies/news/166273/peninsula-mines-ltd-to-lift-cash-position-for-south-korean-projects-71157.html Peninsula Mines Ltd (ASX:PSM) is a multi-commodity explorer, focussed on opportunities for mineral discovery and development within South Korea.

Recently the company identified high proportions of very large to jumbo sized flakes in rock chip samples taken from the Daewon and Yongwon graphite projects.

Peninsula is now heading to market with a capital raising, and the ASX has granted the company a trading halt to prepare.

The halt will remain in place until the opening of trade on Monday 26th September 2016, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 22 Sep 2016 11:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/166273/peninsula-mines-ltd-to-lift-cash-position-for-south-korean-projects-71157.html
<![CDATA[News - Peninsula Mines Ltd identifies jumbo sized flake graphite in South Korea ]]> https://www.proactiveinvestors.com.au/companies/news/166119/peninsula-mines-ltd-identifies-jumbo-sized-flake-graphite-in-south-korea-71096.html Peninsula Mines Ltd (ASX:PSM) has identified high proportions of very large to jumbo sized flakes in rock chip samples taken from the Daewon and Yongwon graphite projects in South Korea.

Flake size is one of the critical elements of graphite pricing, with jumbo and large flake sizes attracting premium pricing.

Metallurgical test work is currently in progress with the objective of optimising large-flake concentrate grades into the range required for spherical graphite production and lithium-ion battery applications.

Jon Dugdale, CEO, commented:

“The identification of large and jumbo flakes from the Daewon and Yongwon Projects is very encouraging, as large flake size is a very important contributor to premium pricing of product for the high value end of the graphite market.”


Background

Peninsula is a multi-commodity explorer, focussed on opportunities for mineral discovery and development within South Korea.

The company is focused, but not limited to exploration for graphite, lithium and gold.

Projects include:

- Wolmyeong (graphite);
- Daewon (graphite);
- Yongwon (graphite);
- Daehyeon (lithium);
- Dongsugok (lithium);
- Osu (gold-silver); and
- Ubeong (zinc-silver)


Graphite projects

Sampling of the company’s key graphite projects has continued to generate high total graphitic carbon (TGS) grades, in particular from:

- Wolmyeong: up to 76% TGC;
- Daewon: up to 24.8% TGC; and
- Yongwon: up to 18% TGC.

Yongwon’s graphite schist has been traced over a 300 metre strike with widths up to 20 metres. The majority of the graphite flakes observed are large, with some very large, jumbo sized flakes observed.

Daewon’s graphite schist has been traced over a 350 metre strike with widths up to 10 metres. Sampled graphite occurs as regularly disseminated, highly oriented graphite flakes including some large flakes.

Wolmyeong’s graphite schist has been traced over a 9 kilometre strike with testing indicating predominantly amorphous fine-grained type graphite.


Metallurgical testwork details

Metallurgical testwork is being conducted at NAGROM laboratories in Perth with the objective of generating optimal flotation graphite concentrates that will meet the specifications required for generating spherical graphite for Lithium-ion battery and other high-end technology applications.

Peninsula said that the initial results, from a combination of grinding, cleaning and flotation stages on the Yongwon and Daewon composites have been encouraging and test-work is continuing with the objective of optimising concentrate grades in concentrate for both of these projects.

In addition, sizing is in progress to determine flake-size distribution in the final concentrates.


Next steps

The next steps include:

- Yongwon: Trenching to define exploration target, electromagnetic surveys will then be considered to define drill targets;
- Daewon: Channel sampling is underway; and
- Wolmyeong: Complete metallurgy assessment.


Analysis

By identifying large and jumbo sized flake graphite within the South Korean graphite projects, Peninsula is able to potentially gain exposure to premium pricing in the flake graphite market.

The company has also continued to demonstrate high-grades and significant widths through sampling of the graphite bearing horizons on its three main graphite projects.

Peninsula will now look to generate concentrate grades in the ongoing metallurgical testing that warrant drilling and resource delineation at the projects.

Shares in Peninsula are trading up 165% year to date, currently priced at $0.024.

 

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Tue, 20 Sep 2016 09:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/166119/peninsula-mines-ltd-identifies-jumbo-sized-flake-graphite-in-south-korea-71096.html