Additional Information
Market: ASX
Sector: General Mining
EPIC: PEN
Latest Price: 0.04  (0,00%)
52-week High: 0.09
52-week Low: 0.03
Market Cap: 80.07M
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Peninsula Energy
www.pel.net.au

Peninsula Energy (ASX: PEN) is an emerging ASX listed Uranium producer with assets in the USA and South Africa. The company is focused on advancing the Lance ISR Projects, located in the Powder River Basin, Wyoming USA through to production, and to take the Karoo Projects in South Africa further up the development curve.


Peninsula Energy hits more uranium at Lance, JORC Resource set to increase

24th Jan 2011, 4:37 am

Peninsula Energy (ASX: PEN) has hit more uranium mineralisation at the Lance Projects in Wyoming, USA.

Drilling confirms a stacked mineralised roll front system, which Peninsula said can be progressively converted to Indicated from Inferred classification.

Latest highlights include; 5.2 metres at 570 parts per million (ppm) uranium, 5.8 metres at 454ppm uranium and 9.1 metres at 256ppm uranium.

The drilling program covered 48 development holes for 9700 metres, at the Ross permit.

Current drilling at Ross is testing extensions of the known mineral zones identified by the 3D geological model.

This is to boost the grade and definition of the current; 25.2 million pound uranium JORC Resource.

Peninsula is also using a diamond drill rig to obtain core samples for metallurgical testing, which will more accurately determine the vanadium potential at Ross.

 

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