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Peninsula Mines starts drilling in Korea with focus on flake graphite at Gapyeong

The company aims to define a maiden graphite resource estimate after completing the 1,200-metre program.

Graphite sample from Korean project
Peninsula intends to supply South Korean end-users of high-technology graphite products

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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Peninsula Mines intersects graphite in all six initial drill holes at...

Peninsula Mines Ltd (ASX:PSM) managing director Jon Dugdale updates Proactive Investors on the South Korea-focused company's upstream and downstream activities as it works to become a leading integrated graphite producer in the country. Dugdale also discusses progress with the precious...

on 11/12/18

3 min read