The present drilling at Ross is testing extensions of the known mineral zones identified by the 3D geological model, enhancing the grade and definition of the current 25,200,000lb U3O8 JORC compliant resource and upgrading existing inferred resources to indicated status.
Drillhole RMR0753 intersected 43.5ft @ 245ppm U3O8 (GT 1.07) including a peak intersection of 8ft @ 500 ppm while drillhole RMR0772 intersected 13ft @ 460ppm U3O8 (GT 0.60) including a peak intersection of 4ft @ 840ppm U3O8.
Drillhole RMR0777 intersected 26.5ft @ 210ppm U3O8 (GT 0.56) while the drillhole RMR0780 intersected 28.5ft @ 190ppm U3O8 (GT 0.54).
During the period 13 October to 9 November 2010, Peninsula has completed 46 drill holes at Ross of which 38 holes encountered significant mineralization and out of these a total of 25 holes recorded multiple stacked intersections of uranium mineralization.
The focus of the drilling was within and adjacent to the resource zones in the Ross Permit area, (predominantly in Sections 12, 13 and 18), and stepping out in the more sparsely drilled zones of Section 7.
This drilling has been aimed at the conversion of both inferred and unclassified material to either measured or indicated categories within the Ross permit area, and also testing inferred trends outside of the Ross permit area.
The latest drilling results include 19 separate intersections with GT greater than 0.2ft/%.
