Perpetual lifts its presence in Brazil’s Lithium Valley
Perpetual Resources has agreed to acquire three more high-potential and advanced exploration licences in Brazil’s Lithium Valley.
Perpetual Resources’ three new license areas triple the company’s presence in the heart of the prolific Lithium Valley
Lithium Valley plays host to the world’s second lowest cost spodumene complex, nearby to PEC’ s new land areas
Near-walk up drill targets to be promptly advanced as PEC begins maiden drilling at Isabella
Special Report: Perpetual Resources has snapped up an agreement to acquire three high-potential and advanced exploration licenses near its established territory in Brazil’s Lithium Valley heartland.
The 2559 hectares of highly prospective lithium land builds Perpetual Resources (ASX:PEC) regional presence by about three-fold, with new project areas featuring outcropping spodumene and artisanal mines with historic rock chips grading up to 7.6% Li2O.
The licences are not only neighboured by PEC’s own Isabella project, but by Sigma Lithium’s operations, which stand as South America’s largest hard rock lithium complex and the world’s second-lowest cost spodumene operation.
Perpetual executive chairman Julian Babarczy said the acquisition represents a transformational opportunity for Perpetual, achieving critical mass for its advanced exploration activities in one of the planet’s most exciting spodumene exploration districts.
“This acquisition also exhibits several critical factors which rank it exceptionally high in terms of prospectivity,” Babarczy said.
“ 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.”
Babarczy added the company looks forward to working with the vendor group as it assesses the new areas and rapidly proceeds to drilling.
Plan of attack
Perpetual says it has multiple targets within the new areas approaching drill-readiness and an in-country team now on-site to take them the rest of the way.
That team is soon to be joined by the PEC exploration manager who is relocating to Brazil to oversee and manage the year’s activity.
The company is planning for maiden drilling to take place in the first half of this year, targeting the outcropping spodumene-rich pegmatites with crystals going over 50cm long, which are evenly distributed throughout the exposure.
And with extrapolated trends showing potential continuity of its neighbours’ high priority targets onto the new tenements, Perpetual will no doubt be keeping an eye on any results from over the fence.
The company also has its own results to pay attention to, and plans to soon begin drilling at its now expanded Lithium Valley sprodumene project, including Isabella, after the maiden program at that project confirmed regional-scale pegmatite trends with high-grade spodumene running up to 6.8% Li2O.
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.
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