Peninsula finds graphite at Eunha North

By – Newsbites Finance

Peninsula Mines has intersected thick, potentially high-grade graphite from four out of five initial drillholes at Eunha North in South Korea.

Peninsula Mines (ASX: PSM) has intersected thick, potentially high-grade graphite from four out of five initial drillholes at Eunha North in South Korea.

A total of 488.9m of diamond drilling has been completed to date across the five drillholes, with visually estimated graphite intersections including 9.38m (6m TW) from 89.71m of potentially high-grade (>10%) graphite.

Initial drilling indicates that the EM anomaly at Eunha North is related to a steeply west dipping graphitic unit, averaging 10m true width of potentially high-grade (>10%) graphite (visual estimates).

The intersections will be logged for total graphitic carbon (TGC) analysis and flake distribution prior to further drill work, which will define a maiden mineral resource.

In addition to resource drilling at Eunha, a >5kg, high-grade concentrate sample (>95% TGC) is close to generation.

This sample will be sent to a German spherical graphite processing specialist for spherical testing – including micronisation (to <20 micron)=”” and=”” spheronisation=”” –=”” which=”” will=”” incorporate=”” csiro=”” technology=”” with=”” the=”” objective=”” of=”” generating=”” a=””>99.95% TGC uncoated spherical graphite product for lithium-ion battery anode production in Korea.
The production of spherical graphite will increase the potential value of its graphite product from a current market price for fine flake graphite concentrate (>94-95%) of $1,000/t to over $4,000/t market price for uncoated, purified (>99.95%) spherical graphite.

The company has noted that foreign investment incentives (leasing and power discounts) are on the table if it were to construct a spherical graphite production facility at a key industrial site at Dangjin Port in Chungham Province.

In addition to the above drill work, channel sampling has been completed across the Roadhouse graphite unit, on an average 40m spaced sections. A total of 81 samples will be processed at Nagrom laboratories in Perth, with results to be reported prior to drill target selection.

SOURCE: https://www.news.com.au/finance/business/breaking-news/peninsula-finds-graphite-at-eunha-north/news-story/cacc9f0005fbd41964363142eebc369e

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