Critical minerals microcap Perpetual Resources Ltd (ASX:PEC) has found consistently high grades of total rare earth oxides (TREO) – more than 4000 parts per million – through surface sampling work at its Raptor project in Brazil.
Initial project samples from the project have found outcropping saprolite of up to u4,553ppm TREO, within a channel sample of 5 metres at 3,695 TREO – numbers which suggest Raptor is one of the best Caldeira-style ionic clay hosted REE exploration projects worldwide.
More specifically, neodymium (Nd) and praseodymium (Pr) values are also strong from the sampling, with an average of 708ppm Nd+Pr oxide – comprising 19% of the TREO – over the 5-metre channel sample.
Perpetual has been comparing grades for this type of project in the same territory, noting that Meteoric Resources NL (ASX:MEI) holds a JORC Mineral Resource Estimate (MRE) of 545 million tonnes at 2,561ppm, while Viridus Mining and Minerals Ltd (ASX:VMM) holds a MRE of 201 million tonnes at 2,590ppm.
The company anticipates that drill results from the project will be reported shortly.
Perpetual’s ‘REE specialist’ Karl Weber said the company was starting out strongly with its exploration work at this site.
“The early identification of high-grade surface enrichment has been confirmed by multiple
assays over 4,000ppm TREO which is an excellent start to the exploration program,” he said.
“The in-country team continues to progress the auger drilling campaign and we are on track to receive initial deeper drilling results in late July and throughout August, which we believe
have strong potential.”
Perpetual has been trading at 1.3 cents.