Sydney, May 16, 2012 (ABN Newswire) - Padang Resources Limited (ASX:PXR) is pleased to announce that it has secured the drill core and data from previous exploration undertaken on the Paser Project.
Securing the drill core, bore hole data and independent coal quality analysis from the previous 20 borehole program undertaken on the Paser Project will greatly assist the technical team in determining the vertical and lateral distribution of the coal seams, the quality of the coal and ultimately the economic viability of the project.
The technical team will verify the data secured and combine this with the data received from the resistivity survey currently in progress to assist in completing technical due diligence.
Padang will keep shareholders informed of any material developments regarding the Due Diligence process on the Paser Project.
Padang Resources Limited (ASX:PXR) (formerly Palace Resources Limited) aims to create a sustainable exploration and development business focused on resource opportunities in the Indonesian resource rich region. Padang Resources has a strong management team which has a track record of acquiring and developing mineral projects in the Asia Pacific region. Padang Resources is aggressively exploring and developing resources in the south-east Asia region, particularly Indonesia.