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Lance development drilling intersects high grades

During July and early August, Peninsula’s wholly owned subsidiary Strata Energy Inc. (Strata) drilled and completed a series of injection and production wells for connection to the first production header house within the initial mining unit (Mine Unit 1) at the Lance Projects. These wells have returned numerous high grade uranium intercepts, which follows similar results from earlier monitor well and delineation drilling in the same area. The intersection of further high grade uranium within Mine Unit 1 is very encouraging ahead of the commencement of uranium extraction from this mining zone planned for early fourth quarter 2015.

John (Gus) Simpson, Managing Director & CEO
Managing Director & CEO

Company Events - PENINSULA ENERGY LIMITED