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Perpetual Resources (ASX:PEC) - Executive Chairman, Julian Babarczy
Executive Chairman, Julian Babarczy
Source: Livewire Markets [YouTube]
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  • Perpetual Resources (PEC) has upgraded the Beharra Project’s mineral resource estimate from 111 million tonnes to 139 million tonnes at 98.6 per cent silicon dioxide
  • The resource estimate marks a 25 per cent increase in tonnage and has shifted from the inferred to indicated category
  • While the silica grade remains the same, Perpetual has already shown it can be increased to over 99.5 per cent silicon dioxide
  • The next step is finalising documentation for the pre-feasibility study which began in the middle of last year
  • Perpetual’s shares have dropped 3.41 per cent and are trading at 8.5 cents

Perpetual Resources (PEC) has upgraded the mineral resource estimate for its WA-based Beharra Project from the inferred to indicated category.

The indicated mineral resource estimate now sits at 139 million tonnes at 98.6 per cent silicon dioxide which represents a 25 per cent increase in tonnage.

Pleasingly, upgrading the resource category paves the way for a mineral reserve estimate which will be concluded once the Beharra Project’s pre-feasibility study (PFS) is finalised.

While the grade remains the same as the maiden resource announced in July last year, Perpetual has already shown the silica grade can be increased to over 99.5 per cent silicon dioxide.

“It is pleasing to have reported an increase in mineral resource tonnage at Beharra, which has further increased the potential to meet high-grade silica sand demand for a considerable period,” Managing Director Robert Benussi said.

After the initial resource estimate was completed, Perpetual drilled a further 32 aircore holes on the northern exploration target, with some infill and twin holes drilled in the southern portion. Both rounds of drilling were used to generate the new mineral resource estimate.

“This resource upgrade is a further marker of the quality of the Beharra Project, which we expect will be further demonstrated with the imminent release of the Beharra pre-feasibility study,” Robert added.

The next step is finalising documentation for the PFS, which began around the same time the initial resource estimate was completed.

Perpetual’s shares have dropped 3.41 per cent and are trading at 8.5 cents at 1:06 pm AEDT.

PEC by the numbers
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