Perpetual Resources Begins Metallurgical Testing at Raptor REE Project in Brazil
PEC (PEC) Share Update November 2024 Sunday 3rd
Perpetual Resources Initiates Metallurgical Testing at Raptor REE Project
Perpetual Resources Ltd (ASX: PEC) has launched a metallurgical test work program at its Raptor REE Project in the Caldeira Alkaline Complex, Minas Gerais, Brazil, marking a significant step in evaluating the project's potential.
Instant Summary:
- Commencement of maiden metallurgical test work at Raptor REE Project.
- ANSTO commissioned for testing, highlighting confidence in project potential.
- High-grade REE mineralisation confirmed across all project areas.
- Potential path to a Maiden Mineral Resource Estimate in 2025.
- Results expected by the end of 2024.
Project Overview
Perpetual Resources Ltd has announced the start of a metallurgical test work program for its Raptor REE Project, located in the Caldeira Alkaline Complex, Minas Gerais, Brazil. This initiative aims to confirm the project's potential as an Ionic Absorption Clay (IAC) discovery, validate initial recovery factors, and assess metallurgical characteristics for further advancement.
The testing will be conducted by ANSTO, Australia's Nuclear Science and Technology Organisation, known for its extensive expertise in rare earth processing. ANSTO's involvement underscores the confidence in advancing Raptor’s potential as a significant REE project.
Significance of Metallurgical Testing
The primary aim of the metallurgical tests is to assess the leachability of REE mineralisation from Raptor samples. This work will determine whether the Raptor Project represents an IAC discovery and establish initial recovery yields. Positive outcomes would pave the way for a Maiden Mineral Resource Estimate in 2025.
Perpetual's recent auger drilling campaign confirmed high-grade REE mineralisation, featuring elevated ratios of neodymium (Nd) and praseodymium (Pr). All drill holes ended in REE mineralisation, indicating potential for mineralisation to extend at depth.
ANSTO's Role and Expertise
ANSTO has over 30 years of experience in rare earth process development and has been involved in numerous projects worldwide. Their focus has increasingly shifted toward IAC and clay-hosted REE projects, with over 15 currently underway. ANSTO's expertise includes leaching, desorption, solid-liquid separation, impurity removal, and process modelling.
Geological Context
The Raptor Project is situated within the Alkaline Intrusive Complex of Poços de Caldas, one of Brazil's most economically significant regions. This area hosts a variety of valuable deposits, including REEs. The complex spans approximately 800 km², representing the largest concentration of alkaline rocks in South America.
The initiation of metallurgical testing at the Raptor REE Project is a positive development for Perpetual Resources, potentially enhancing the project's value. Successful validation of the project's IAC potential could significantly boost investor confidence and attract further investment. The involvement of ANSTO adds credibility, which may positively impact the company's stock price.
Investor Reaction:
Analysts are likely to view this development as a positive step forward for Perpetual Resources. The potential for a significant REE discovery in a globally recognized region could attract attention from investors looking for opportunities in the rare earth sector.
Conclusion:
Investors should keep an eye on the results of the metallurgical testing, expected by the end of 2024, as they could provide critical insights into the Raptor REE Project's potential. Perpetual Resources' strategic advancements in this project could play a key role in its future growth and success.