Australian-listed exploration company Peninsula Minerals (ASX: PEN) has wrapped up the initial drilling campaign at the Barber Uranium Project in the United States, with high grade intercepts reported along a sparsely drilled roll front indicating good continuity of mineralisation.
In addition, a deeper roll front system extending over at least 800 metres has been identified with significant high grade intercepts.
The new roll front is open in all directions and has the potential to significantly expand the known mineralisation at Barber.
Drilling commenced at Barber in October and to date 44 holes have been completed, with 27 holes encountering significant mineralisation.
The highlights included 8ft @ 910ppm U3O8 from 734.25’ to 742.25’, 11.5ft @ 480ppm U3O8 from 741.75’ to 753.25’ and 8ft @ 530ppm U3O8 from 742.25’ to 750.25’.
Barber is planned to be the second production centre at Peninsula’s Lance Projects in Wyoming, USA.
Peninsula executive chairman Gus Simpson said there were numerous other sparsely tested roll fronts in the Barber area and the success experienced in the early stages boded well for the company's development efforts.
