Perpetual Resources has rig mobilisation underway at Igrejinha lithium project

• 1,500m diamond drilling program mobilising
• Drilling expected to commence in coming days
• Program of approximately 22 diamond holes across Mauricio and Morro Grande prospects
• Composite channel samples from Morro Grande artisanal workings returned up to 3.26% Li2O

Perpetual Resources (ASX: PEC) has executed a diamond drilling contract with ServDrill Brazil and mobilisation is now underway for the company’s drilling program at the Igrejinha lithium project in Brazil.

The drill rig, crew and associated equipment are currently mobilising to site, with drilling of the approximately 1,500m diamond program expected to commence in coming days.

“Igrejinha has already demonstrated the presence of a mineralised pegmatite system, including previously reported high-grade lithium at surface. Our 2025 drilling gave us the geological information needed to substantially refine the model and identify where we believe the system is best tested next,” executive chairman, Julian Babarczy, said.

“At Mauricio we now have a substantial interpreted pegmatite target extending for at least 350 metres of strike, while at Morro Grande we are drilling beneath an intensely weathered system where surface sampling has previously returned very high lithium grades.

“The objective of this diamond program is straightforward – to test these priority targets with continuous core and establish what the pegmatite system looks like beneath the weathered profile. We expect drilling to commence in the coming days”.

The program will target the Mauricio and Morro Grande prospects, where the company has progressively refined its geological interpretation through surface sampling, trenching, geochemistry, the 2025 RC drilling campaign and recent field work.

The diamond program is designed to provide continuous drill core through the targeted pegmatite systems and materially improve the company’s understanding of pegmatite geometry, thickness, structural orientation, mineralogical zonation and the distribution of lithium-bearing minerals.

Morro Grande has previously returned high-grade lithium mineralisation from surface sampling undertaken around the historical artisanal workings.

The high-grade surface results were associated with spodumene-bearing pegmatite exposed within and around the historical workings. Perpetual’s more recent field work has also reconfirmed spodumene-like pseudomorphs within the intensely weathered pegmatite, providing further geological support for testing the interpreted primary pegmatite beneath the weathered profile.

Mauricio represents the second principal target of the upcoming diamond program.

Trenching completed during 2026 confirmed pegmatite across four trenches, with observed apparent thicknesses ranging from approximately 2.0m to 11m.5 The subsequent geological interpretation used for the current diamond program defines the priority Mauricio pegmatite target over at least 350m of strike.

The geometry remains subject to testing by drilling and the apparent surface widths may not represent true thickness.

The upcoming diamond holes have been designed to test the interpreted pegmatite geometry, continuity and thickness beneath the weathered profile and along strike.

PEC was down 7.14% to 1.3¢. Mkt cap $15.11M.

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