Peninsula Energy Production Drilling Reveals High Grade Uranium

Peninsula Energy (ASX:PEN) announced today updated results of development drilling in the Ross Permit Area of the Lance Uranium Projects in Wyoming, USA. These results include intersects with high grade uranium.
As quoted in the press release:

During July and early August, Peninsula’s wholly owned subsidiary Strata Energy Inc. (Strata) drilled and completed a series of injection and production wells for connection to the first production header house within the initial mining unit (Mine Unit 1) at the Lance Projects. These wells have returned numerous high grade uranium intercepts, which follows similar results from earlier monitor well and delineation drilling in the same area. The intersection of further high grade uranium within Mine Unit 1 is very encouraging ahead of the commencement of uranium extraction from this mining zone planned for early fourth quarter 2015. Overall drilling results to date have met or exceeded resource grade expectations for the ore body

Peninsula Managing Director and CEO Gus Simpson is quoted as saying:

It is very pleasing to see the continued success at each project stage building layer on layer. It is testimony to the quality of the assets we have, the planning that has gone into their development and the dedicated execution of those plans by the whole team.

Click here for the full Peninsula Energy (ASX:PEN) press release.
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