Peninsula assays high grade zinc-silver-lead in South Korea

Australia-listed Peninsula Mines announced that it has located very high-grade zinc-silver mineralisation associated with extensive previous mine workings within its newly acquired Ubeong project in South Korea.

The high-grade massive sulphide skarn-style mineralisation is linked to a limestone unit that has been mapped for a 12 kilometres strike length.

Rock chip assays show grades of up to 25.6% zinc, 669 g/t silver and 19.1% lead.

The company has now secured tenement applications over the eastern 10 kilometre of strike of the highly prospective limestone-skarn unit.

In a written statement, Peninsula Mines CEO Jon Dugdale said: “South Korea has enjoyed a long history of zinc mining and processing, and there are several zinc refineries in the country, so this latest opportunity fits with our strategy of exploring for mineral commodities which have a positive price outlook and potential off-take in country.”

Ubeong Zinc-Silver Project, sample locations, skarn-limestone unit, tenements on the KIGAM Socheon Aeromagnetic image