Perpetual Resources completes Lithium Valley drilling with next exploration phase in sight

RC drilling is complete at Igrejinha’s key lithium targets with early insights on potential mineralisation to follow analysis of drill hole data.

With RC drilling complete, Perpetual looks forward to the results which will guide its assessment of next steps at Igrejinha. Pic: Getty Images

• Perpetual wraps up RC drilling at Igrejinha in Brazil’s Lithium Valley

• The program focused on Target 1 and the South East anomaly

• Follow up drill design will kick off once assay results are interpreted

 

Special report: Reverse circulation drilling at Perpetual Resources’ Igrejinha asset in Brazil’s Lithium Valley has wrapped up at Target 1 and the South East anomaly, with preliminary observations due following analysis of logging data.

A total of 11 holes for 1163m were drilled at Target 1, defining a 200m strike of outcropping LCT pegmatite, while six holes for 287m at the South East anomaly identified an outcropping 300m+ striking pegmatite, south of the target area.

Due to minor delays in sample submission, which affected processing priority, first assay results are expected to be announced in August.

Follow-up drill-design at Igrejinha’s Target 1 and SE Anomaly, as well as at Perpetual’s (ASX:PEC) other nearby Lithium Valley projects will begin shortly, once interpretation of geology and assay results are completed.

Same rocks as major deposits close by

Igrejinha is less than 10km from and in the same geological setting as globally significant lithium projects such as Sigma Lithium’s low-cost Grota Do Cirilo complex.

The Lithium Valley holds the lion’s share of the nation’s ~45 hard rock lithium deposits, similar to those mined in WA, and accounts for more than 80% of the country’s known lithium reserves

PEC executive chairman Julian Babarczy recently told Stockhead that Brazil’s Lithium Valley presents a highly attractive setting for resource development.

The region is bolstered by substantial investment and strong government backing for critical minerals projects, including recent moves by major Chinese firms like BYD, which have secured exploration ground and established EV manufacturing facilities

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“Important milestone”

With maiden drilling now complete, Babarczy said the company was encouraged by the progress made and looked forward to the receipt of the program’s assay results.

“These will provide valuable insights to guide our assessment of the important next phase of exploration and drilling as we shape the broader exploration strategy at Igrejinha and nearby projects in the Lithium Valley,” he said.

“The conclusion of drilling marks an important milestone for Perpetual as we continue to build momentum across our exciting Brazilian exploration portfolio.”

Perpetual is now focusing on analysis and interpretation of the Igrejinha drill program results, with planning for future drill programs at Target 1, the SE Anomaly and other project areas.

Additional work programs are also being considered across Perpetual’s other Brazilian exploration assets.

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 Resources completes Lithium Valley drilling with next exploration phase in sight