Peninsula Mines Ltd. was granted a key exploration and mining tenement that covers the bulk of the known strike length of a high-grade graphitic unit at its Gapyeong graphite project in South Korea.
The company has an initial three years to explore the Gapyeong 125-3 tenement, which can be extended to six years upon the filing of a supplementary application with the country's Ministry of Trade Industry and Energy.
Peninsula Mines plans to undertake an initial drill program to test for continuity and thickness of the graphitic unit before moving to define a resource for potential development, Managing Director Jon Dugdale said in a June 12 release.
Subject to final access agreements with local landholders, the company will start drilling at the tenement after completing drilling at the Eunha graphite project, also in South Korea.
