Maiden Drilling at Igrejinha Yields 2m @ 2.5% Tin and Exceptional Caesium Grades

Breakthrough Drilling in Brazil’s Lithium Valley

Perpetual Resources Ltd has delivered a significant milestone with its maiden drilling program at the Igrejinha Project in Brazil’s renowned Lithium Valley. The company’s initial assays reveal a fertile, high-grade polymetallic lithium-cesium-tantalum (LCT) pegmatite system at the Morro Grande prospect, confirming the presence of multiple critical minerals including lithium, caesium, tin, tungsten, and tantalum at exceptional grades.

Notably, the drilling intercepted 2 meters at 2.5% tin, reaching the upper detection limit, alongside strong caesium grades exceeding 5% in pollucite-rich samples from historic artisanal workings. These results position Perpetual as one of the few ASX-listed companies with exposure to high-grade caesium, a rare and strategically important critical mineral.

Expanding Exploration and Local Leadership

Following the success of the initial program, Perpetual has appointed a seasoned Brazilian In-Country Exploration Manager to enhance operational capabilities and accelerate exploration across its Brazilian portfolio, which includes the Igrejinha, Renaldinho, and Matrix projects. This local leadership is expected to streamline field activities and deepen engagement with regional stakeholders.

The company has commenced a systematic follow-up exploration campaign involving detailed geological mapping, soil and stream sampling, and trenching to prioritize drill-ready targets. Early work at the South-East Anomaly has already confirmed broad spodumene-bearing pegmatite zones, indicating substantial lithium potential beyond the initial Morro Grande focus.

Complementary Projects and Financial Position

In parallel, Perpetual is advancing its Raptor Rare Earth Project within Brazil’s Caldeira Alkaline Complex. Metallurgical testing by ANSTO has demonstrated exceptional recoveries of up to 94% for key magnet rare earth elements such as neodymium and praseodymium, underscoring the project’s commercial promise.

On the financial front, Perpetual completed a $1.6 million placement in August, strongly supported by new and existing investors, which has fortified its balance sheet with approximately $1.6 million in cash at quarter-end. This funding underpins the company’s aggressive exploration agenda in Brazil and ongoing metallurgical test work at its Beharra Silica Sand Project in Western Australia.

Strategic Outlook

Perpetual Resources is positioning itself as a multi-commodity critical minerals explorer with a growing footprint in Brazil’s Lithium Valley. The company’s immediate priorities include expanding soil and rock chip sampling programs, trenching, and preparing for a second phase of diamond drilling to further delineate high-grade lithium and associated critical mineral zones.

With a robust financial position and strengthened local expertise, Perpetual is well placed to capitalize on rising global demand for critical minerals essential to the energy transition. However, the early-stage nature of exploration means that further drilling and metallurgical studies will be crucial to defining resource size and economic viability.