Peninsula Mines Ltd collects highly anomalous lithium in South...

Peninsula Mines Ltd collects highly anomalous lithium in South Korea
Wednesday, August 31, 2016 by Proactive Investors
Peninsula Mines Ltd collects highly anomalous lithium in South Korea
Peninsula Mines Ltd (ASXSM) has collected highly anomalous lithium results from stream sediment surveys at its lithium-pegmatite project areas at Dongsugok and Daehyeon in South Korea.
The Dongsugok Project produced high grade stream sediment results of up to 219 ppm lithium from the Tonggo Prospect.
This is up to three times the level obtained from drainages at the Boam Lithium Mine (not owned by Peninsula), 3 kilometres to the east.
The high lithium results at the Tonggo Prospect form a 3 kilometre long anomalous trend that is the subject of additional stream sediment, rock chip and soil sampling programs that are underway.
The Daehyeon Project also produced high lithium stream sediment results of up to 124 ppm lithium which appear to be associated with a northsouth corridor of large pegmatites.
This area is the subject of follow-up rock chip sampling currently underway.
During early to mid-2016, Peninsula had pegged a total of 76 tenements in the central east of South Korea where significant lithium stream sediment anomalisms were reported by the Korea Institute of Geoscience and Mineral Resources.
The tenements are grouped into two main project areas, namely Dongsugok and Daehyeon.
Peninsula had a cash balance of $1.3 million as at 30 June 2016.
The company’s share price has increased by 400% during the last one year, last trading at $0.025.

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