The company now plans to rapidly assess the land package to determine its geological and economic potential.
Perpetual Resources Ltd (ASX:PEC) has signed an option and acquisition agreement for acquiring Arrowsmith West, a tenement immediately south of Perpetual’s flagship Beharra High-Grade Silica Sand Project.
Arrowsmith West is prospective for high-grade silica sand and is highly strategic due to its proximity to Beharra.
The tenement contains prospective target areas within cleared farming land with minimal or no impact on existing native vegetation, and this boosts the potential for a rapid project development if exploration and other related studies indicate a viable project.