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Perpetual Resources Ltd (ASX:PEC) has put the key steps in motion to begin drilling for lithium at its high-grade Igrejinha project in Brazil, signing a contract with ServDrill Brazil to commence work at the company’s Lithium Valley tenements in Minas Gerais.
The decision to focus on Igrejinha has been influenced by the exceptional assays picked up during a recent program of mapping and sampling work on outcropping spodumene found in the target zone.
A pegmatite measuring more than 15 metres wide, and NE-SW trending was exposed in artisanal workings there, yielding rockchip assays such as 7.6% and 7.5% lithium oxide (Li2O), and channel sample assays of up to 3.26% Li2O. In addition, caesium (Cs₂O) was found grading more than 5.3%.
Location has also proven an attraction, with this target located less than 10 kilometres from globally significant lithium projects, including Sigma Lithium’s low-cost production complex, Lithium Ionic, and CBL, which are also found within the same geological setting as Igrejinha.
Perpetual is planning to roll out a drilling program of 1,500 metres in early June.
Exploration manager Allan Stephens said the drilling work – which will total 1,500 metres and commence in early June – was an important step for the company.
“We are pleased to have secured an experienced drilling partner for our maiden lithium
focused campaign in Brazil’s renowned Lithium Valley,” he said.
“Igrejinha continues to display strong geological fundamentals, with confirmed high-grade
mineralisation, scale potential, and proximity to some of South America’s largest spodumene deposits and lowest cost spodumene production in the world.
“Drilling will target surface-exposed mineralisation along a 1.4km NE-SW pegmatite corridor, and we look forward to providing further updates as the program advances.”
At 13:35 AEST, Perpetual shares 1.4 cents – a rise of 7.69% since the market opened.
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