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Perpetual Resources (ASX:PEC) - Executive Chairman, Julian Babarczy - The Market Herald
Executive Chairman, Julian Babarczy
Source: YouTube
  • Perpetual Resources (PEC) has begun a 32-hole aircore drilling program at the Beharra Silica Sands Project in WA
  • Drilling is aimed at upgrading Beharra's existing inferred mineral resource estimate to the indicated category
  • This will then support a maiden mineral ore reserve which is crucial in funding the development of the Beharra Project
  • Drilling is expected to take about four days and will be followed by sample work
  • Assay results are expected in mid-November and the updated mineral resource estimate will be released afterwards
  • Company shares are down 2.12 per cent and are trading for 4.6 cents

Perpetual Resources (PEC) has begun a 32-hole aircore drilling program at the Beharra Silica Sands Project in Western Australia.

Drilling is aimed at upgrading Beharra's existing inferred mineral resource estimate to the indicated category.

The company released the maiden inferred mineral resource estimate for Beharra in July of this year. It currently stands at 111.3 million tonnes at 98.6 per cent silicon dioxide.

Once Perpetual completes further project studies, the company hopes to announce a maiden mineral ore reserve which will bee crucial to making a decision to fund the development of the Beharra Project.

"This drill program is designed to position Perpetual to be able to undertake the reporting of a Mineral Ore Reserve at the conclusion of acceptable project studies, which will aid in a rapid project development timeline as well as position the Beharra project even more prominently with ultimate product end users," Managing Director Robert Benussi said.

Once drilling samples have been collected, the company will undertake sample logging. This will include colour logging and high-quality photographing to further support the resource estimation process.

Drilling is expected to take about four days and assay results are expected in mid-November. Once these have been released, Perpetual will report on the updated mineral resource estimate.

Company shares are down 2.12 per cent and are trading for 4.6 cent.


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