Peninsula Energy Limited (ASX:PEN) announced the first results from Site 45 at the Karoo uranium molybdenum projects in South Africa.

As quoted in the press release:

The initial drilling program at Site 45 has been designed to confirm the historic mineralisation defined by the Johannesburg Consolidated Investment Company (JCI) during the 1970’s.
To date Peninsula has completed a total of 63 reverse circulation holes for a total of 15,207 feet at Site 45. A total of 54 holes intersected mineralisation > 100ppm and 28 holes reported multiple intersections of stacked uranium. A total of 13 holes reported grades in excess of 1,000ppm eU3O8.

Click here to read the Peninsula Energy Limited (ASX:PEN) press release.

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