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 high grade uranium and molybdenum in South Africa
Peninsula Energy (ASX: PEN) continues to expand the company's uranium and molybdenum exposure across several continents, with the latest high grade hits coming from the Karoo projects in South Africa.
With 72 significant uranium intercepts from 152 holes, Peninsula's Karoo projects have the potential to define a widespread high grade area of uranium mineralisation.
Drilling highlights include:
2.0 metres at 3,413 parts per million (ppm) eU3O8 from 24 metres;
1.8 metres at 3,315ppm eU3O8 from 22 metres; and
2.2 metres at 1,705ppm eU3O8 from 7 metres.
A molybdenum grade of 1,044ppm was also identified.
Adding to the potential only 30% of the exploration program has been completed.
The Karoo Basin is known for uranium and molybdenum mineralised province and is host to several historically defined ore bodies.
These include Ryst Kuil containing around 40 million pounds of U3O8, and Riet Kuil reported to contain around 10 million pounds of U3O8.


















