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We study the nature of the ground state of the frustrated J1-J2 model and theJ1-J3 model using a variational algorithm based on projected entangled-pairstates (PEPS). By investigating spin-spin correlation functions, we observe aseparation in regions with long-range and short-range order. A directcomparison with exact diagonalizations in the subspace of short-range valencebond singlets reveals that the system is well described by states within thissubset in the short-range order regions. We discuss the question whether thesystem forms a spin-liquid, a plaquette valence bond crystal or a columnardimer crystal in these regions.

Exploring frustrated spin-systems using Projected Entangled Pair States (PEPS)