Perpetual Resources Ltd (ASX:PEC) Confirms High-Grade Lithium Assays and Identifies New Exploration Targets
Exploration Results
Perpetual Resources Ltd (ASX:PEC) has confirmed additional strong spodumene mineralisation at the Igrejinah Project in Brazil. Recent assays include PECK007 with >5% Li₂O, PECK007A at 4.93% Li₂O, and PECK007B at 4.41% Li₂O. These results build on previous high-grade assays such as Rockchip 2 at 7.6% Li₂O and Rockchip 4 at 7.5% Li₂O.
Multispectral Mapping
The company utilised ASTER satellite data for multispectral mineral mapping, identifying 52 priority exploration targets. These include 24 High Priority 1 targets with distinct spodumene signatures, 19 Priority 2 targets with spodumene-like characteristics, and 9 Priority 3 targets linked to spodumene-associated alteration zones. The identified pegmatite corridors extend up to 1.4 km, enhancing the project’s discovery potential.
Operational Developments
Perpetual’s Exploration Manager, Allan Stephens, is relocating to Brazil to oversee expanded exploration activities in Minas Gerais. The company is accelerating its exploration program with ongoing soil and auger sampling, integrating new data to refine drill targets for the planned Q2 CY25 drill program. Drilling contractors are set to be appointed in March, with the drill campaign targeting high-priority spodumene trends.
Future Plans
Perpetual Resources is strategically positioned in Brazil’s Lithium Valley, adjacent to major players like Sigma Lithium, Lithium Ionic, and Atlas Lithium. The company anticipates further assays from Isabella and Renaldinho projects by the end of March and is finalising a drill contract to commence in Q2 2025. All regulatory environmental permits are active, ensuring readiness for the upcoming drill program.
Executive Comments
Exploration Manager Allan Stephens commented, “Igrejinah has rapidly emerged as a standout addition to our growing portfolio in Lithium Valley. The project exhibits all the key attributes of a high-grade lithium discovery – scale, widespread targets, and direct evidence of spodumene mineralisation. Thanks to historical mining activity from the 1980s, which targeted pollucite, spodumene, and tourmalines, existing access tracks exist which require minimal preparation for drill pad construction, allowing for an efficient transition to drilling.
Further strengthening our confidence, exceptional rock chip results along strike from Lithium Ionic’s Gonçalves Project highlight the significant economic potential yet to be unlocked at Igrejinah. Our strategy is clear – we are on track to begin drilling in Q2 2025. With multiple high-priority targets across multiple projects, we are positioning Perpetual Resources for a transformational year ahead.”
Motley Fool contributor Kiarra Jackson 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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