Padang Resources Announces Completion of Resistivity Survey at Paser Project

Padang Resources, formerly known as Palace Resources, has declared that the resistivity survey at the Paser Project, which is located in East Kalimantan, has been completed. Several coal samples were obtained by the field team for quality analysis, based on the outcome of the geological mapping performed on the Paser Project.

Additionally, the field team also performed 20 lines of a resistivity survey that covered the 43 ha concession in order to gain a better insight into the lateral and vertical distribution of the coal seams.

Padang Resources has been informed that the analysis of coal samples as well as the interpretation of the resistivity survey is presently ongoing. A preliminary report is likely to be received shortly.

The company may begin a drill campaign to delineate a resource that is JORC-compliant. Padang Resources will undertake this drilling activity based on the positive results from the coal quality and resistivity survey analysis.

If any material developments related to the Due Diligence procedure on the Paser Project occur, the shareholders will be intimated by the company.

Padang Resources strives to produce a sustainable reconnaissance and development business, primarily concentrating on resource prospects available in the Indonesian region that is rich in resources. The company’s management team is quite experienced in purchasing and advancing mineral projects in the Asia Pacific region. The firm is presently exploring and developing resources in Indonesia.

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