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Peninsula Mines

ASX: PSM

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

South Korean lithium explorer Peninsula Mines (ASX:PSM) has filed tenement applications over a number of prospects in South Korea prospective for lithium where exploration work is ongoing.

One of these is the Dongsugok prospect that is adjacent to the Boam lithium mine where magnetic imagery has highlighted the presence of a large magnetic high below its Dongsugok prospect.

The company is aiming to locate historic records relating to past mining and exploration in the area.

A detailed mapping of the Dongsugok area is planned with the aim of identifying additional vein and breccia style lithium mineralisation similar to that mined at Boam.

Earlier in December, Peninsula Mines reviewed historical rock chip sampling in 1978 done by the then Korean Mineral Promotion Corporation, now Korea Resources Corporation (KORES) which identified high grade flake graphite samples at the Daewon prospect.

Those historical grades ranged from 6.9% to 42.4% Total Graphitic Carbon (TGC).

The Daewon prospect is located close to major road and rail infrastructure and has readily available grid power nearby with an adjacent active limestone quarry and an in-pit crushing facility.

Exploration has commenced with historical data review and compilation. Mapping and sampling will commence later in the quarter following the winter thaw.

A ground geophysics program could follow as well as drilling on the best prospects.

Mine For

Lithium

Location of operation(s)

South Korea

Address

Suite 2, Level 2, 20 Kings Park Road
WEST PERTH, WA, Australia

Phone

+61 8 6143 1840

Email

Website


Last Updated

2/2/2016

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.

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