Perpetual kicks off metallurgical testing at Raptor rare earths project

• Perpetual has begun metallurgical test work at the Raptor REE project
• Project sits in Brazil’s world-class Minas Gerais region
• Results are expected by the end of CY2024

Special Report: Perpetual Resources has kicked off a metallurgical test work program on drill samples from recent auger drilling at its Raptor rare earth element (REE) project in Brazil.

The project is situated in the highly regarded Caldeira Alkaline Complex in Brazil’s Minas Gerais and to date, has returned results including:

• 5m at 5,591ppm Total Rare Earth Oxide (TREO) (35% Nd+Pr) ending in 5,533ppm
  TREO (33% Nd+Pr)
• 3m at 3,569ppm TREO (27% Nd+Pr) from 6m, ending in 3,846ppm TREO (31% Nd+Pr)
• 12m at 4,601ppm TREO (23% Nd+Pr) ending in 2,914ppm TREO (24% Nd+Pr)
• 7m at 4,240ppm TREO (23% Nd+Pr) ending in 2,722ppm TREO (21% Nd+Pr); and
• 10m at 2,546ppm TREO (21% Nd+Pr) ending in 1,834ppm TREO (22% Nd+Pr)

These results show that high grade REE mineralisation is evident across all three Raptor project areas (Pina Colada, Portao Verde and Pinheirinho prospects) where grades compare favourably to Meteoric Resources’ (ASX:MEI) nearby project, which contains a 545Mt at 2,561ppm resource.

The test work will assess the leachability of rare earth element (REE) mineralisation from Raptor samples, which will ultimately determine whether the Raptor project represents an Ionic Absorption Clay discovery and will establish initial recovery yields.

Maiden resource by 2025

The program will be conducted at Australia’s Nuclear Science and Technology Organisation (ANSTO) in Sydney, NSW, recognized as a global leader in metallurgical testing for REE projects.

The company anticipates receiving metallurgical results from ANSTO before the end of CY2024, with positive results expected to underpin a path to a maiden mineral resource estimate in 2025.

“The Caldeira Alkaline Complex in Brazil is renowned for hosting some of the most promising and established rare earth element projects in South America and the highest grade ionic absorption clay hosted projects in the world,” Perpetual Resources’ (ASX:PEC) executive chairman Julian Babarczy said.

“Our initial results from the auger program have been outstanding, demonstrating the strong potential for Perpetual to replicate the success seen by others in this world-class REE jurisdiction.

“These metallurgical tests aim to validate our belief in the area’s ionic absorption clay potential and will be crucial in developing the process flowsheet as we advance our project.”

This article was developed in collaboration with Perpetual Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.