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Perth, June 28, 2012 (ABN Newswire) - Padang Resources Limited (
ASX:PXR) is pleased to announce that it has received an independent report on the interpretation of the geological data from the Paser Project, East Kalimantan.
The Company's Indonesian based geological consultants, CV. Bara Pratama Energy (Geological Consultants) have completed an interpretation of results from the surface mapping, resistivity survey and previous drilling data. The Geological Consultants concluded that the interpretation exercise has been successful in outlining the distribution of the resistivity of material below surface and producing an approximate indication of the potential depth, thickness and spread of coal seams.
In particular, the Geological Consultants identified 3 potential coal seams with a relative north-south pattern of strike and thicknesses varying from 0.4 to 3.4 meters. Seam 1 has a potential thickness of 1.1 meters with the strike direction of 840 meters, Seam 2 has a potential thickness of 0.5 meters with the strike direction of 1160 meters, and Seam 3 has a potential thickness of 3.4 meters based on coal thickness from drilling data in Borehole GMM-01 with the strike direction of 940 meters. Refer to Appendix A for a Map of the Location of Geoelectrical Survey Lines and Interpretation of Coal Strike.
With the interpretation of geological data complete on the Paser Project, the Company will now proceed with the design and implementation of a drilling program to define a mineable resource.
Next steps
Padang will keep shareholders informed of any material developments regarding the exploration program on the Paser Project.
ASX:PXR) is pleased to announce that it has received an independent report on the interpretation of the geological data from the Paser Project, East Kalimantan.The Company's Indonesian based geological consultants, CV. Bara Pratama Energy (Geological Consultants) have completed an interpretation of results from the surface mapping, resistivity survey and previous drilling data. The Geological Consultants concluded that the interpretation exercise has been successful in outlining the distribution of the resistivity of material below surface and producing an approximate indication of the potential depth, thickness and spread of coal seams.
In particular, the Geological Consultants identified 3 potential coal seams with a relative north-south pattern of strike and thicknesses varying from 0.4 to 3.4 meters. Seam 1 has a potential thickness of 1.1 meters with the strike direction of 840 meters, Seam 2 has a potential thickness of 0.5 meters with the strike direction of 1160 meters, and Seam 3 has a potential thickness of 3.4 meters based on coal thickness from drilling data in Borehole GMM-01 with the strike direction of 940 meters. Refer to Appendix A for a Map of the Location of Geoelectrical Survey Lines and Interpretation of Coal Strike.
With the interpretation of geological data complete on the Paser Project, the Company will now proceed with the design and implementation of a drilling program to define a mineable resource.
Next steps
Padang will keep shareholders informed of any material developments regarding the exploration program on the Paser Project.
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About Padang Resources Limited
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.
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