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

A key milestone towards the company’s objective of producing high-purity spherical graphite.
Peninsula managing director Jon Dugdale
Aiming to directly supply the Korean lithium-ion battery industry

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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