Perpetual Resources Ltd (ASX:PEC) has boosted its finances by $170,143 after receiving a rebate from the Australian Government Department of Industry, Science and Resources for an AusIndustry R&D Tax Incentive grant.
The R&D Incentive relates to a range of innovative research and development, undertaken by Perpetual in its analysis of impurity reduction at the Beharra high-grade silica sand project.
Low impurities
Beharra has achieved the lowest impurities of any known silica sand project in the Mid-West Region of Western Australia and Perpetual acknowledges the dedicated and hard work of its consultant technical team in achieving these results.
The company said the R&D Incentive funds would further augment its existing cash position, which was bolstered in a recent equity raising.
Perpetual has a solid cash balance which will be applied to further development of the Beharra project, as well as potential strategic initiatives.
About Beharra Project
Beharra is 300 kilometres north of Perth and 96 kilometres south of the port town of Geraldton in Western Australia.
Access to the project from Geraldton and Perth is via the sealed Brand Highway, thence about 8.5 kilometres east on the Mt Adams unsealed road providing access to the centre of the tenure.
The project comprises a single exploration licence, E70/5221, initially covering an effective land area of 56.8 square kilometres. In June 2021 Mining Lease M70/1406 was awarded covering an effective land area of 10.34 square kilometres for a period of 21 years.
M70/1406 covers the southern end of EL70/5221 which has resulted in a reduction of this exploration tenement to 48.55 square kilometres.
E70/5951 Beharra West consists of a north-south strip of freehold land with an effective area of 44.8 square kilometres and lies directly west of E70/5221 on the western side of the Yardanogo Nature Reserve. Beharra West and Beharra make up the Beharra Silica Sand Project.
Auger and aircore drilling has confirmed the presence of extensive, high-purity silica sands, with a maiden mineral resource estimate completed in July 2020.
A detailed pre-feasibility study and maiden ore reserve for Beharra was released on March 17, 2021.
Subsequent rounds of bulk metallurgical testing have further improved the potential final product specifications at Beharra.