‘Quickly proving itself’: Perpetual sings praise for Isabella Project after promising lithium find

Perpetual Resources Ltd (ASX:PEC) has picked up high-grade spodumene-lithium mineralisation – including more than 5% lithium oxide (Li2O) – through rock chip sampling across its Isabella Project license in Brazil.

The company is investigating mineralisation focused on two distinct pegmatite trends at Isabella, with assays from exploration work including 5.4% in two areas (both of which included samples exceeding the maximum detection limit), 2.9%, 2.2%, and 1.7%.

This comes after a previous assay grading 5.6% had been reported in July.

Taken together, the exploration work has revealed the presence of high-grade lithium at three locations along a distinct pegmatite trend extending over a kilometre. Regional interpretation suggests this trend could extend for up to 3km of prospective mineralised corridor when extrapolated at both ends.

Early-stage mapping at the licenses indicated the possibility of ‘parallel and/or stacked’ pegmatite formations. This suggests possible repetitions and enhancing the potential for significant mineralised scale.

Executive chairman Julian Babarczy said the results were another stage in Perpetual’s achievements at the play, located in the Brazil’s Minas Gerais state.

“The Isabella Project is quickly proving itself as a prime exploration opportunity in the heart
of the prolific Lithium Valley in Brazil,” he said.

“In just a few months, we have expanded on initial reconnaissance findings and have confirmed spodumene mineralisation in multiple locations along an initial two pegmatite trends extending over >1 km, with clear potential for additional growth.”

Perpetual shares have moved up on the results, and at 10:48 AEDT, they were trading at 1.9 cents – a rise of 11.76% since the market opened.

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