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Highlights:

  • PEC confirms 200m mineralised LCT pegmatite strike at Target 1, open in all directions
  • Perpetual Resources intersects spodumene and pollucite; initial assays expected mid-July
  • PEC drilling covers 750m to date with new 300m pegmatite target emerging in south-east license area

Perpetual Resources Limited (ASX:PEC) has reported that maiden drilling at its wholly owned Igrejinha Project in Brazil’s Lithium Valley has confirmed a 200-metre strike of continuous lithium-caesium-tantalum (LCT) pegmatite at Target 1. The mineralisation has been intersected from surface to depths exceeding 50 metres and remains open in all directions.

Approximately 750 metres of the planned 1,500-metre reverse circulation (RC) drilling program has been completed to date. The current phase includes deeper and step-out drilling, aimed at testing further strike and depth extensions, as well as investigating parallel structures and a new mineralised pegmatite in the south-eastern part of the project’s license area.

Drilling beneath historical artisanal workings has intersected both spodumene and pollucite, two key minerals in the lithium and caesium supply chains. Visual inspection and portable XRF (pXRF) readings have suggested elevated concentrations of caesium, with some spot readings returning values as high as 41.5% Cs. However, the company has cautioned that pXRF readings are indicative only and not a replacement for laboratory assays. All samples are currently being processed at a certified lab, with the first assay results expected by mid-July and further batches to follow in July and August.

The mineralised pegmatite zones intercepted by drilling are reported to have estimated true widths exceeding eight metres, a scale considered comparable to early-stage results from nearby operations. The confirmation of pegmatite continuity beneath previously reported high-grade rock chip samples has been a key outcome of the initial drilling phase. Notable historical surface samples from the area include:

  • INGR002: >5.3% Cs₂O (detection limit exceeded)
  • Rockchip 2: 7.6% Li₂O
  • Rockchip 4: 7.5% Li₂O
  • 1m channel sample: up to 3.26% Li₂O

A newly identified pegmatite structure in the south-east section of the license area has also emerged as a fast-track drill target. Field mapping suggests this structure extends for over 300 metres in strike length, with mineralisation observed at surface.

Target 1 at Igrejinha is a historically mined area for pollucite and spodumene, with past artisanal activities concentrated around shallow pegmatite outcrops. The current drill campaign is targeting extensions beneath these workings and into unexplored zones.

Commenting on the progress, Perpetual Resources’ Executive Chairman Julian Babarczy noted the potential significance of the project in a global context, particularly with few active caesium exploration projects currently underway. Power Metals Corp in Canada was referenced as one of the few comparable initiatives.

Perpetual Resources is an Australian exploration and development company primarily focused on critical minerals. The Igrejinha Project represents its key lithium and caesium exploration asset. The project is located within Brazil's Lithium Valley, an emerging hub for hard rock lithium deposits, with infrastructure and government support for battery metal development.

Shares in Perpetual Resources closed 36.36% higher at AUD 0.015 on 9 July 2025 following the drilling update.

As drilling continues, the company plans to complete the remainder of the 1,500m program by mid to late July. Results from this phase will help define the extent of mineralisation and guide further exploration targeting both lithium and caesium mineral systems.