Peninsula Mines Ltd (ASX:PSM) has intersected thick and potentially high-grade graphite (visual estimates) from drilling at the Eunha Project in South Korea.
A total of five drill holes for 488.9 metres of diamond drilling have been completed to date at Eunha North, with the following visually estimated graphite intersections:
• 9.38 metres from 89.71 metres of potentially high-grade (>10%) graphite;
• 20.32 metres from 57.88 metres of potentially high-grade (>10%) graphite; and
• 10.72 metres from 28.96 metres of potentially high-grade (>10%) graphite.
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The drilling to date indicates that the electromagnetic anomaly at Eunha North is related to a steeply west dipping graphitic unit, averaging about 10 metres true width of potentially high-grade graphite.
The drill hole intersections will now be logged and sampled for total graphitic carbon (TGC) analysis as well as flake distribution, prior to further drilling to define a maiden resource.
In parallel with the resource drilling at Eunha, a >5 kilogram, high-grade, concentrate sample (>95% TGC) is close to being generated.
This sample will be sent to a German spherical graphite processing specialist for spherical graphite testing to study the potential for lithium-ion (graphite) battery anode production in Korea.
Peninsula has been offered foreign investment incentives (leasing and power discounts), to construct a spherical graphite production facility at a key industrial site at Dangjin Port in the same Chungnam Province as the Eunha Project.
READ: Peninsula Mines’ high-purity graphite results confirm potential of high-grade Korean deposit
Peninsula managing director Jon Dugdale said: “The initial intersections of thick and potentially high-grade graphite at Eunha North are a key first step towards defining a mineral resource for potential development and concentrate production.
“The ultimate objective, however, is to take the graphite processing a step further – to produce high-purity spherical graphite on the doorstep of the lithium-Ion battery industry in South Korea.”