Peninsula Energy Announce High Grade Intercepts from Rietkuil Project Area

Peninsula Energy (ASX:PEN) announced results from further radiometric re- logging of existing drill holes completed during December 2015 to February 2016 at the Rietkuil project area, approximately 40 km west of Beaufort West at Peninsula’s Karoo Projects in South Africa.
As quoted in the press release:

Highlights:

• High grade near surface intercepts from radiometric re-logging of UCEX drill holes in new southern block of Rietkuil project area
• Significant intercepts include
  • 9.5 ft @ 2,408 ppm eU3O8 from 37.9 ft
  • 8.9 ft @ 2,422 ppm eU3O8 from 27.6 ft
  • 6.6 ft @ 2,800 ppm eU3O8 from 47.4 ft
  • 4.1 ft @ 3,896 ppm eU3O8 from 38.7 ft
  • 3.9 ft @ 5,453 ppm eU3O8 from 33.0 ft
• Intercepts will be used in JORC Code-compliant resources update

Results from all blocks investigated to date have demonstrated very high grade mineralisation at shallow depths with a further 124 significant intersections returned from 170 historic holes at Block A-Ext during December 2015 to February 2016. Overall 227 significant intersections have now been returned from a total of 481 re-logged holes since mid-2014.
170 UCEX holes were successfully radiometrically re-logged at Block A-Ext during December 2015 to February 2016 from which 124 significant mineralised intersections (> 200 ppm eU3O8) were obtained at near-surface depths ranging from 27.56 feet to 62.50 feet below surface. Block A-Ext is the largest block of the Rietkuil project area. Only 30% of the targeted historic holes in Block A-Ext have been re-probed so far. Re-probing activity is planned to continue for the next 2 to 3 months in this block.

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