Perpetual Resources Limited is listed on the Australian Securities Exchange (PEC) with a primary focus of exploring and developing the Atoz Coal Project and Wiagdon Thrust Joint Venture ("WTJV").
The Atoz Coal Project located 60 kilometres south of Padang in the central west of West Sumatra. The Project covers 192.08 hectares and has an approved production license (Production IUP).
A reconnaissance trip was undertaken in late 2011 by an independent geologist to assess the potential of the area. It was established that the coal occurs as 18-220NW dipping seams that strike from northeast to southwest. It was interpreted that the seam in the main pit area extends for at least 400m along strike with a potential strike-length of 1.0km and possible multiple seams within the tenement. Given the success of other local producers throughout the district, and the encouraging coal outcrops in the area, there is strong potential to identify a sizeable resource within the project area.
The Company intends to undertake a drilling campaign immediately with the aim of moving the Project to production as quickly as possible.
Wiagdon Thrust Joint Venture ("WTJV") comprises a suite of 11 contiguous exploration licenses over an area of approximately 2,000km2 in the Lachlan Fold Belt of New South Wales. Recorded past production from adjacent or included historical goldfields exceeds 2.1 million ounces of gold. Specifically, the Wiagdon Thrust Project area lies within the north-eastern part of the Hill End Through whick is noted for its gold and base-metals mineralization.