Padang Resources Limited (ASX:PXR) Commences Technical Due Diligence
Perth, April 27, 2012 (ABN Newswire) - Padang Resources Limited (ASX:PXR) is pleased to announce that it has commenced a two (2) stage technical due diligence program on the Paser Project, East Kalimantan.
The technical due diligence (Stage 1) is aimed at the following:
- Collating and validating previous exploration data (topographical, outcrop and borehole surveys, coal quality and civil infrastructure plans, etc.);
- Completing a geophysical survey to map the vertical and lateral distribution of the coal seams in 2D/3D format and profile the resistivity of coal and other soil layers in the ground; and
- Providing an initial coal resource estimate.
Based on a positive outcome from Stage 1, the Company will plan and implement a drilling program to define a JORC compliant resource.
Padang will keep shareholders informed of any material developments regarding the Due Diligence process on the Paser Project.
Contact: Padang Resources Limited T: +61-8-9429-2908 WWW: www.padangresources.com.au