Perpetual spots several spodumene-bearing pegmatites at new Brazilian project

Perpetual Resources has confirmed spodumene-bearing pegmatite trends at its newly acquired Isabella project.

The project sits adjacent to two advanced lithium projects in Brazil’s lithium valley. Pic: Getty Images

• Perpetual spots multiple spodumene-bearing pegmatites in Brazil

• The exploration program is expected to delineate near-term drill targets

• A maiden drill program is planned for H1 2025

Special Report: Perpetual Resources has confirmed multiple spodumene-bearing pegmatite trends while exploring its newly acquired Isabella lithium project in Brazil’s Lithium Valley.

The company picked up the permit in July which is an emerging lithium exploration opportunity in the region, located adjacent to two significant spodumene projects including Atlas Lithium’s (NASDAQ:ATLX) Das Neves project, where 1.47% Li2O over 95.2m was reported in a drill hit and a lithium processing plant is expected to come online in Q4 2024, and Sigma Lithium’s (NASDAQ:SGML) Sao Jose project.

Regional map of Isabella project area adjacent to Atlas Lithium and Sigma. Pic: Perpetual Resources

The project hosts multiple spodumene-pegmatite occurrences and several historical artisanal mining areas, with tunnels extending up to 150m, exposing interpreted LCT-bearing pegmatites suitable for initial testing.

The aim of the latest drilling was to develop high-potential lithium targets and has confirmed several trends extending up to 800m, supported by newly found artisanal workings that extend the previously mapped continuity.

Assays are pending, but pre-acquisition rock chip sampling by the company has already confirmed high grades of up to 5.62% Li2O from artisanal workings.

Spodumene samples from field work at Isabella. Pic: Perpetual Resources

Maiden drilling in 2025

Over 30 artisanal excavations have now been identified, featuring substantial underground workings.

The company expects to report a set of preliminary rock chip results within the next three weeks, with exploration efforts ongoing targeting identification of drilling prospects for a maiden drilling campaign in H1 2025.

“Building on the high-grade spodumene previously identified at the Isabella project, our current exploration campaign is exceeding expectations,” Perpetual Resources (ASX:PEC) exploration manager Allan Stephens said.

“The discovery of additional extensive historical artisanal workings indicates widespread spodumene mineralisation, aligned with our interpreted pegmatite trends, suggests Isabella has the potential to emerge as a significant spodumene area in a region already known for large, high-grade lithium projects.”

This article was developed in collaboration with Perpetual Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

Originally published as Perpetual spots several spodumene-bearing pegmatites at new Brazilian project