Peninsula Mines is planning resource definition drilling after being granted a key tenement over the Yongwon flake graphite deposit in South Korea. Yongwon is one of Peninsula’s several key South Korean projects which provide exposure to commodities including graphite, lithium, zinc-silver and gold.

An electromagnetics (EM) geophysical survey has defined and extended the graphite unit and metallurgical optimisation targeting a high-grade flake-graphite concentrate.

Peninsula said the next step was to drill define the graphite unit and generate initial resources.

The company’s field program continues to yield exceptional results across several key projects in South Korea, setting Peninsula up for a multi-project, multi-commodity drilling program, offering exposure to highly prospective graphite, lithium, zinc-silver and gold prospects.

At Tonggo Lithium Prospect strongly anomalous lithium stream sediment geochemistry has identified a lithium-anomalous pegmatite corridor about 100 metres wide with 2km to 3km strike length. Follow-up soil and rockchip sampling is planned prior to drill targeting.

Additional massive-sulphide mineralisation has been sampled at the Ubeong Zinc-Silver Project and a geophysical program of EM and magnetics is under way to locate high-grade drilling targets.

At Osu Gold Project channel sampling completed across a 30 metre section of mineralisation has exposed multiple quartz-sulphide veins, with drilling planned to test high-grade zones at depth.

Peninsula CEO Jon Dugdale said, “We are fast-tracking exploration of our 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 very positive outlook and offtake potential in-country. It is now time to progress our key projects to the drill target definition stage and focus our efforts during 2017.

“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.”

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