Perpetual Resources Reports Promising Exploration Results at Isabella Lithium Project
PEC (PEC) Share Update September 2024 Monday 30th
Perpetual Resources Confirms Spodumene-Bearing Pegmatite Trends at Isabella Lithium Project
Perpetual Resources Ltd (ASX: PEC) has announced significant findings from its ongoing exploration at the Isabella Lithium Project in Brazil's Lithium Valley.
Instant Summary:
- Multiple spodumene-bearing pegmatite trends confirmed, extending up to 800m.
- High-grade lithium rock chip samples with up to 5.62% Li2O.
- Isabella license located near Atlas Lithium's Das Neves Project and Sigma Lithium’s Sao Jose Project.
- Preliminary rock chip results expected within three weeks.
- Maiden drilling campaign targeted for 1H 2025.
Exploration Findings
Perpetual Resources Ltd has confirmed several spodumene-bearing pegmatite trends at its recently acquired Isabella Lithium Project. These trends extend up to 800 meters and are supported by newly discovered artisanal workings, which have extended previously mapped continuity.
Multiple occurrences of spodumene have been identified across several artisanal workings, with laboratory assays pending. Pre-acquisition rock chip sampling by Perpetual has already confirmed high grades of up to 5.62% Li2O from these artisanal workings.
Strategic Location
The Isabella license is strategically located adjacent to two confirmed spodumene projects. It is just 0.5 km from Atlas Lithium's flagship Das Neves Project, where an intersection of 1.47% Li2O over 95.2 meters was reported. Atlas Lithium is currently constructing a lithium processing plant at Das Neves, expected to come online in Q4 2024.
Additionally, the Isabella Project is less than 3 km from Sigma Lithium’s Sao Jose Project, an advanced spodumene exploration project.
Next Steps
Perpetual expects to report a set of preliminary rock chip results within the next three weeks. Exploration efforts are ongoing, targeting the identification of drill targets for a maiden drilling campaign in the first half of 2025.
Perpetual’s Exploration Manager, Mr. Allan Stephens, commented on the findings, stating that the current exploration campaign is exceeding expectations. The discovery of additional extensive historical artisanal workings indicates widespread spodumene mineralization, suggesting that Isabella has the potential to emerge as a significant spodumene area in a region already known for large, high-grade lithium projects.
The confirmation of multiple spodumene-bearing pegmatite trends at the Isabella Lithium Project is a positive development for Perpetual Resources. This could significantly enhance the company's valuation and attract investor interest, especially given the project's proximity to other major lithium projects. The high-grade lithium findings and the potential for a maiden drilling campaign in 2025 are likely to boost investor confidence.
Investor Reaction:
Analysts are likely to react positively to this announcement, given the strategic location of the Isabella Project and the high-grade lithium findings. The proximity to Atlas Lithium's Das Neves Project and Sigma Lithium’s Sao Jose Project adds further credibility and potential value to Perpetual's exploration efforts.
Conclusion:
Investors should keep an eye on the upcoming preliminary rock chip results and the progress of the exploration efforts at the Isabella Lithium Project. The strategic location and high-grade findings position Perpetual Resources as a promising player in Brazil's Lithium Valley. Investors are encouraged to monitor further updates and consider the potential long-term benefits of this project.