Peninsula Energy has intercepted high grade uranium and molybdenum from its recently completed reverse circulation (RC) holes located in the western portion of the historic drilling area at Site 22 in the Karoo region of South Africa.
The RC holes sampled till date are located in the western portion of the historic drilling area
Results from a total of 38 RC holes have been received with the results confirming a widespread distribution of Molybdenum in association with Uranium till date.
In addition to the existing resource drilling, ten high ranking drill targets distributed across all six of the firm’s project areas have been prioritized from the 392 uranium occurrences generated by the previous helicopter-borne radiometric and magnetic surveys.
This process has included site mapping, ground sampling and aerial extent studies of the project areas
conducted by Peninsula over the last three years.
The firm is planning to delineate 30mlbs of eU3O8 in the next 18 months.