# PEC: Major Expansion of Nevada Scheelite Tungsten Project Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/pec-major-expansion-of-nevada-scheelite-tungsten-project--cef961a2-30b3-4a0c-a86a-d8f463ca3865 Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03142606 Publisher: asx Original announcement: 2026-09-22T23:03:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-09-23T00:27:13.121Z Atlas analysis updated: 2026-09-23T00:27:13.121Z - Company: Perpetual Resources Ltd - Ticker: PEC - Exchange: ASX - Region: Nevada - Primary commodity: Tungsten - Secondary commodities: None reported - Document categories: Drill results, Agreement transaction, Other - Extracted: 2026-09-23 00:27:13 UTC Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas summary Perpetual Resources Ltd has significantly expanded its Nevada Scheelite Tungsten Project by staking 62 new lode mining claims, increasing its exploration footprint by over 1,200 acres in Mineral County, Nevada. This expansion aims to capture interpreted extensions of the historic high-grade tungsten mine and parallel trends, providing a broader district-scale exploration opportunity. The company plans to complete 3D geological modeling, undertake a soil geochemistry program, and initiate a maiden drilling program in late CY2026 to identify new targets. Reasoning: Perpetual Resources has significantly expanded its land position at the Nevada Scheelite Tungsten Project, increasing its exploration footprint and potential for district-scale discoveries, which is a positive strategic move, although no new exploration results are reported in this release. - Positive factor: Significant expansion of exploration footprint \(1,272 acres, 15x original size\) - Positive factor: Strategic positioning of new claims to cover interpreted geological extensions and parallel trends - Positive factor: Opportunity for district-scale exploration beyond the historic mine footprint - Positive factor: Tungsten is a strategic commodity with US Government interest - Positive factor: Plans for future exploration work including 3D modelling, soil geochemistry, and maiden drilling program - Negative factor: No new exploration results reported in this announcement - Negative factor: Future drilling program is subject to permitting and rig availability - Negative factor: No inference can currently be made regarding mineralisation on newly staked claims Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 9 ## Classification and evidence **Stale Data Re-release** Polarity: negative Story-specific tag Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: The document explicitly states 'Previously reported historical drill' and refers to prior ASX announcements for the drill results, indicating they are not new assays. Evidence · text > Previously reported historical drill **Step-Out Extension** Polarity: positive Story-specific tag Definition: Mineralization extended beyond the previously known limit. Why it applies: The new claims have been strategically positioned to capture interpreted extensions to the geological trend hosting the historic Nevada Scheelite mine, together with prospective parallel trends. Evidence · text > The new claims have been strategically positioned to capture interpreted extensions to the geological trend hosting the historic Nevada Scheelite mine, together with prospective parallel trends ## Extracted facts Stored fact records: 9. Some facts used in scoring do not have a stored record. ## Drill Results (9) ### G-17 [Link to this fact](https://atlas-staging.minestarters.com/news/pec-major-expansion-of-nevada-scheelite-tungsten-project--cef961a2-30b3-4a0c-a86a-d8f463ca3865#fact-drill-facts-0) Nevada Scheelite · tungsten Historical result Needs review: historical\_restatement #### Identity - Hole ID: G-17 - Project: Nevada Scheelite - Commodity: tungsten - Region: usa\_nv - Reported Region: usa\_nv - Ticker: PEC #### Geometry - Grade: 2.4 - Grade Unit: % - Intercept: 8.2 m - From: 14 m - To: 22.2 m - Intercept Depth: 14 m #### Classification - Sample Type: drill - Group ID: G-17:14-22.2 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2026-06-17T00:00:00.000Z #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: This is a high-grade historical intercept that provides context for the project's potential, but it is not a new result and has been previously disclosed. - Negative factor: Result is historical and previously reported, offering no new information Evidence · text > 8.2m at 2.40% WO₃ from 14m \(Hole G-17\)³ #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### 5-DH-02 [Link to this fact](https://atlas-staging.minestarters.com/news/pec-major-expansion-of-nevada-scheelite-tungsten-project--cef961a2-30b3-4a0c-a86a-d8f463ca3865#fact-drill-facts-1) Nevada Scheelite · tungsten Historical result Needs review: historical\_restatement #### Identity - Hole ID: 5-DH-02 - Project: Nevada Scheelite - Commodity: tungsten - Region: usa\_nv - Reported Region: usa\_nv - Ticker: PEC #### Geometry - Grade: 1.95 - Grade Unit: % - Intercept: 7.01 m - From: 5.55 m - To: 12.56 m - Intercept Depth: 5.55 m #### Classification - Sample Type: drill - Group ID: 5-DH-02:5.55-12.56 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2026-08-31T00:00:00.000Z #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: This is a high-grade historical intercept that provides context for the project's potential, but it is not a new result and has been previously disclosed. - Negative factor: Result is historical and previously reported, offering no new information Evidence · text > 7.01m at 1.95% WO₃ from 5.55m \(Hole 5-DH-02\)⁴ #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### 5-DH-07 [Link to this fact](https://atlas-staging.minestarters.com/news/pec-major-expansion-of-nevada-scheelite-tungsten-project--cef961a2-30b3-4a0c-a86a-d8f463ca3865#fact-drill-facts-2) Nevada Scheelite · tungsten Historical result Needs review: historical\_restatement #### Identity - Hole ID: 5-DH-07 - Project: Nevada Scheelite - Commodity: tungsten - Region: usa\_nv - Reported Region: usa\_nv - Ticker: PEC #### Geometry - Grade: 1.54 - Grade Unit: % - Intercept: 5.49 m - From: 8.84 m - To: 14.33 m - Intercept Depth: 8.84 m #### Classification - Sample Type: drill - Group ID: 5-DH-07:8.84-14.33 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2026-08-31T00:00:00.000Z #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: This is a moderate-grade historical intercept that provides context for the project's potential, but it is not a new result and has been previously disclosed. - Negative factor: Result is historical and previously reported, offering no new information Evidence · text > 5.49m at 1.54% WO₃ from 8.84m \(Hole 5-DH-07\)⁴ #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### 4-DH-11 [Link to this fact](https://atlas-staging.minestarters.com/news/pec-major-expansion-of-nevada-scheelite-tungsten-project--cef961a2-30b3-4a0c-a86a-d8f463ca3865#fact-drill-facts-3) Nevada Scheelite · tungsten Historical result Needs review: historical\_restatement #### Identity - Hole ID: 4-DH-11 - Project: Nevada Scheelite - Commodity: tungsten - Region: usa\_nv - Reported Region: usa\_nv - Ticker: PEC #### Geometry - Grade: 1.5 - Grade Unit: % - Intercept: 7.59 m - From: 28.35 m - To: 35.94 m - Intercept Depth: 28.35 m #### Classification - Sample Type: drill - Group ID: 4-DH-11:28.35-35.94 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2026-08-31T00:00:00.000Z #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: This is a moderate-grade historical intercept that provides context for the project's potential, but it is not a new result and has been previously disclosed. - Negative factor: Result is historical and previously reported, offering no new information Evidence · text > 7.59m at 1.50% WO₃ from 28.35m \(Hole 4-DH-11\)⁴ #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### 10 [Link to this fact](https://atlas-staging.minestarters.com/news/pec-major-expansion-of-nevada-scheelite-tungsten-project--cef961a2-30b3-4a0c-a86a-d8f463ca3865#fact-drill-facts-4) Nevada Scheelite · tungsten Historical result Needs review: historical\_restatement #### Identity - Hole ID: 10 - Project: Nevada Scheelite - Commodity: tungsten - Region: usa\_nv - Reported Region: usa\_nv - Ticker: PEC #### Geometry - Grade: 1.34 - Grade Unit: % - Intercept: 4 m - From: 78 m - To: 82 m - Intercept Depth: 78 m #### Classification - Sample Type: drill - Group ID: 10:78-82 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2026-06-17T00:00:00.000Z #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: This is a moderate-grade historical intercept that provides context for the project's potential, but it is not a new result and has been previously disclosed. - Negative factor: Result is historical and previously reported, offering no new information Evidence · text > 4.0m at 1.34% WO₃ from 78m \(Hole 10\)³ #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### C [Link to this fact](https://atlas-staging.minestarters.com/news/pec-major-expansion-of-nevada-scheelite-tungsten-project--cef961a2-30b3-4a0c-a86a-d8f463ca3865#fact-drill-facts-5) Nevada Scheelite · tungsten Historical result Needs review: historical\_restatement #### Identity - Hole ID: C - Project: Nevada Scheelite - Commodity: tungsten - Region: usa\_nv - Reported Region: usa\_nv - Ticker: PEC #### Geometry - Grade: 1.31 - Grade Unit: % - Intercept: 6.1 m - From: 48 m - To: 54.1 m - Intercept Depth: 48 m #### Classification - Sample Type: drill - Group ID: C:48-54.1 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2026-06-17T00:00:00.000Z #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: This is a moderate-grade historical intercept that provides context for the project's potential, but it is not a new result and has been previously disclosed. - Negative factor: Result is historical and previously reported, offering no new information Evidence · text > 6.1m at 1.31% WO₃ from 48m \(Hole C\)³ #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### 5-DH-09 [Link to this fact](https://atlas-staging.minestarters.com/news/pec-major-expansion-of-nevada-scheelite-tungsten-project--cef961a2-30b3-4a0c-a86a-d8f463ca3865#fact-drill-facts-6) Nevada Scheelite · tungsten Historical result Needs review: historical\_restatement #### Identity - Hole ID: 5-DH-09 - Project: Nevada Scheelite - Commodity: tungsten - Region: usa\_nv - Reported Region: usa\_nv - Ticker: PEC #### Geometry - Grade: 1.1 - Grade Unit: % - Intercept: 8.6 m - From: 14.87 m - To: 23.47 m - Intercept Depth: 14.87 m #### Classification - Sample Type: drill - Group ID: 5-DH-09:14.87-23.47 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2026-08-31T00:00:00.000Z #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: This is a moderate-grade historical intercept that provides context for the project's potential, but it is not a new result and has been previously disclosed. - Negative factor: Result is historical and previously reported, offering no new information Evidence · text > 8.60m at 1.10% WO₃ from 14.87m \(Hole 5-DH-09\)⁴ #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### 12 [Link to this fact](https://atlas-staging.minestarters.com/news/pec-major-expansion-of-nevada-scheelite-tungsten-project--cef961a2-30b3-4a0c-a86a-d8f463ca3865#fact-drill-facts-7) Nevada Scheelite · tungsten Historical result Needs review: historical\_restatement #### Identity - Hole ID: 12 - Project: Nevada Scheelite - Commodity: tungsten - Region: usa\_nv - Reported Region: usa\_nv - Ticker: PEC #### Geometry - Grade: 0.89 - Grade Unit: % - Intercept: 16.8 m - From: 40 m - To: 56.8 m - Intercept Depth: 40 m #### Classification - Sample Type: drill - Group ID: 12:40-56.8 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2026-06-17T00:00:00.000Z #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: This is a lower-grade historical intercept that provides context for the project's potential, but it is not a new result and has been previously disclosed. - Negative factor: Result is historical and previously reported, offering no new information Evidence · text > 16.8m at 0.89% WO₃ from 40m \(Hole 12\)³ #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### C [Link to this fact](https://atlas-staging.minestarters.com/news/pec-major-expansion-of-nevada-scheelite-tungsten-project--cef961a2-30b3-4a0c-a86a-d8f463ca3865#fact-drill-facts-8) Nevada Scheelite · tungsten Historical result Needs review: historical\_restatement #### Identity - Hole ID: C - Project: Nevada Scheelite - Commodity: tungsten - Region: usa\_nv - Reported Region: usa\_nv - Ticker: PEC #### Geometry - Grade: 0.63 - Grade Unit: % - Intercept: 18.9 m - From: 0 m - To: 18.9 m - Intercept Depth: 0 m #### Classification - Sample Type: drill - Group ID: C:0-18.9 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2026-06-17T00:00:00.000Z #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: This is a lower-grade historical intercept that provides context for the project's potential, but it is not a new result and has been previously disclosed. - Negative factor: Result is historical and previously reported, offering no new information Evidence · text > 18.9m at 0.63% WO₃ from surface \(Hole C\)³ #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.