Perpetual Resources Confirms Tungsten Skarn in Nevada, Assays Pending

Perpetual Resources (ASX: PEC) has completed its first direct technical assessment of the Nevada Scheelite Tungsten Project since signing a binding acquisition agreement in June 2026. The site visit in Mineral County, Nevada, confirmed that the tungsten skarn system has a clear, mappable surface expression and that historical mine infrastructure remains accessible.

Field mapping identified garnet-pyroxene skarn, limestone contacts, and calc-silicate alteration minerals consistent with an intrusive-related tungsten system. The mapped skarn-limestone contact trends broadly north-south and ranges from subvertical to steeply east-dipping. That orientation broadly matches the direction of historical underground development, strengthening confidence in the historical geological model.

The site retains a timber and steel headframe above the main shaft collar, several mill and processing buildings, a box shaft collar, and additional surface workings across the adjacent hillside. Parts of the surface infrastructure have collapsed, and the operation reflects its age. Perpetual considers the standing infrastructure useful for continued technical assessment.

Six first-pass rock chip samples weighing between half a kilogram and one kilogram were collected across the skarn-limestone contact. The samples have been submitted to American Assay Laboratories in Reno for multi-element analysis. Results are pending.

The Nevada Scheelite deposit has historical production of about 211,000 short tons at an average grade of roughly 1.1% tungsten trioxide. That grade sits well above the typical range for global tungsten deposits, which often grade between 0.5% and 0.9% WO3. The company will next interpret the assays, compile and validate records from more than 400 historical drill holes, catalogue preserved drill core, and build a three-dimensional geological model.