Peninsula Assay Results Show High-Grade Molybenum and Tungsten at Daehwa

Peninsula Mines Limited (ASX:PSM) announced assay results from its 2014 drilling program at the Daehwa project in South Korea. The results of the recently completed program revealed high-grade 13.1 percent molybdenum from 81.3 meters and 4.4 percent tungsten from 76.4 meters.

As quoted in the press release:

The 2014 drill programme has identified high to very high grade molybdenum and tungsten mineralization associated with narrow quartz vein structures located down dip of historically mined molybdenum and tungsten lodes. In addition the drilling also intersected a number of broader zones of lower grade skarn altered scheelite mineralisation.

Chris Rashleigh, managing director at Peninsula, commented:

The high grade results from the recently completed drill programme indicate that the narrow veined molybdenum and tungsten bearing structures have consistent and predictable strike and dip extents. Drilling over the last three years has confirmed the presence of narrow high grade veins over more than 360m of strike and to depths in excess of 300m below the level of historic mining. Further, the recent drill programme has intersected a number of low to moderate grade scheelite bearing skarn altered horizons that present an opportunity to define additional tungsten resources through further exploration.

Click here to read the full Peninsula Mines Limited (ASX:PSM) press release.