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Peninsula secures partial funding for 1,100-meter drill program at Yongwon

Korean state-owned firm Korea Resources Corp. approved direct funding to support 200 meters of a planned 1,100-meter drill program at Peninsula Mines Ltd.'s Yongwon graphite project in South Korea.

Peninsula now requires access approval to begin drilling, with the objective of defining an indicated resource that may be subject to initial economic development studies.

Trenching and channel sampling is underway along the 300-meter outcrop of the graphitic unit, at 40 meters to 80 meters of spacing.

The company intends to immediately initiate the drill program, pending access approval, it said March 30.