Perpetual Resources Ltd (ASX:PEC) Secures Transformational Landholding in Brazil’s Lithium Valley
Land Acquisition
Perpetual Resources Ltd (ASX:PEC) has entered into an agreement to acquire three high-potential and advanced exploration licences in Brazil’s Lithium Valley, located less than three kilometres from its existing Isabella lithium project. This acquisition expands Perpetual’s Central Lithium Valley landholding by approximately three times, encompassing 2,559 hectares of highly prospective lithium exploration ground.
Assay Results
The project areas feature outcropping spodumene with historic assays exceeding 7.6% Li2O, including Rockchip 2 with 7.6% Li2O and Rockchip 4 with 7.5% Li2O. Visual estimates indicate approximately 20% spodumene presence within the exposed pegmatites, with multiple targets approaching drill-ready status.
Future Plans
Perpetual has planned its maiden drill program for the first half of 2025, targeting outcropping spodumene-rich pegmatites. Additionally, the company is relocating its Exploration Manager to Brazil to oversee and manage the 2025 exploration activities. The licences are strategically located near Sigma Lithium’s Grota do Cirlo operations, enhancing the potential for operational synergies.
Executive Comments
Julian Babarczy, Executive Chairman, commented: “This acquisition represents a transformational opportunity for Perpetual, achieving a critical mass for our advanced lithium exploration activities within one of the most exciting spodumene exploration districts on the planet. This acquisition also exhibits several critical factors which rank it exceptionally high in terms of prospectivity, including unrivalled location and proximity to known spodumene projects, confirmed lithium mineralisation of over 7.5% Li2O, outcropping spodumene occurrences, walk-up drill targets and operational support from the vendor group, K2, who has been active in the region for decades.
“Importantly, the acquisition will generate significant operational synergies with our existing Isabella Lithium Project and hosts near drill ready targets, with drilling aiming to commence later in the current half. We look forward to working with K2 Mineração as we quickly assess the new tenement areas and rapidly proceed to the drilling of this exciting project soon.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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