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Perpetual Resources (ASX:PEC) - Non Executive Chairman, Julian Babarczy - The Market Herald
Non Executive Chairman, Julian Babarczy
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  • Perpetual Resources (PEC) has released a maiden mineral resource estimate for the Beharra High Purity Silica Sands Project in WA
  • The inferred mineral resource estimate for Beharra stands at 111.3 million tonnes at 98.6 per cent silicon dioxide
  • Additionally, an exploration target of between eight to 13 million tonnes with grades between 97 to 99 per cent silicon dioxide was also estimated
  • Perpetual is now collecting environmental, heritage and native title evaluations for the completion of a pre-feasibility study
  • Once discussions with relevant bodies are completed, the company will lodge a mining lease application for the Beharra Project
  • Despite this news, Perpetual's share price has dropped 12.5 per cent and shares are trading for 3.5 cents each

Perpetual Resources (PEC) has released a maiden mineral resource estimate for the Beharra High Purity Silica Sands Project in WA.

The inferred mineral resource estimate for Beharra stands at 111.3 million tonnes at 98.6 per cent silicon dioxide.

This resource estimate was calculated from 40 aircore holes, totalling 506.7 metres, and 38 auger drill holes, totalling 76 metres.

Additionally, an exploration target of between eight to 13 million tonnes with grades between 97 to 99 per cent silicon dioxide was also estimated.

This target extends beneath the mineral resource to the north and the quantity and grade of the target is conceptual as there has been insufficient exploration to estimate a mineral resource in this area.

Perpetual is now collecting prerequisite inputs for the completion of a pre-feasibility study. This includes environmental, heritage and native title evaluation, and further detailed analysis of the Beharra Project.

Additionally, the mineral resource estimate will be used to form the basis of a mining lease application.

Once Perpetual has completed discussions with environmental, heritage, and permitting consultants, it will lodge a mining lease application with the Western Australian Department of Mines.

"The maiden mineral resource estimation and exploration target has provided us with a compelling investment case for proceeding with a pre-feasibility study across the project," Managing Director Robert Benussi said.

"The scale of the mineral resource in conjunction with the amenability of the silica to produce a high purity product strongly warrants our dedicated focus to advance the project," Robert said.

"The delineation of the additional exploration target provides scope to significantly expand the scale of the project when required," he said.

Despite this news, Perpetual's share price has dropped 12.5 per cent and shares are trading for 3.5 cents each at 1:18 pm AEST.

PEC by the numbers
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