Perpetual Resources soars as drilling firms up Raptor’s rich REE potential

Perpetual Resources’ maiden drilling indicates that Raptor REE mineralisation is similar to that seen at Caldeira
All holes ended in mineralisation, which suggests that there is significant upside at depth
Planning underway for follow-up drilling that may include initial metallurgical testing

Special Report: Maiden drilling at Perpetual Resources’ Raptor project in Brazil has proved the presence of rare earths mineralisation that compares favourably to grades seen at the standout Caldeira project.

Not only did assays point to REEs being present at surface and within the shallow saprolite, the shallow due diligence drilling also indicated that there is significant upside at depth as all holes ended in mineralisation – a trait common to all nearby, Caldeira-style clay-hosted deposits.

What’s likely to be of interest to Perpetual Resources (ASX:PEC) is that the grades intersected to date compare favourably to those seen at Meteoric Resources’ (ASX:MEI) Caldeira project, which has a resource of 545Mt grading 2561 parts per million (ppm) total rare earth oxides (TREO).

Drilling also demonstrated significant quantities of valuable magnet REEs neodymium and praseodymium.

Notable intersections include:

5m at 5591ppm TREO (35% NdPr) in hole RPT0018
12m at 4601ppm TREO (23% NdPr) in RPT0012; and
7m at 4240ppm TREO (23% NdPr) in RPT0011.

The results also confirm that REE mineralisation is present across all three Raptor project areas – the Pina Colada, Portao Verde and Pinheirinho prospects – and support the company’s belief that it could host an ionic adsorption clay-hosted REE discovery.

IAC deposits are prized for their potential to deliver low-cost, high-margin operations despite their lower grades compared to their hard rock counterparts due to ease of processing and attractive mineralogy that’s typically weighted towards the magnet REEs.

Highlights from the maiden drill program at the Raptor REE project. Pic: Perpetual Resources

Compelling results

“Within just a few months, Perpetual has moved quickly and efficiently to achieve compelling results in a prolific region known for hosting some of the world’s best REE deposits,” exploration manager Allan Stephens said.

“With 21 holes drilled across three areas, testing both surface and shallow subsurface, we’ve delivered high-impact evaluations, including significant intervals of up to 12m at 4601ppm TREO and Nd:Pr ratios of up to 35%.

“The majority of holes end in mineralisation, suggesting strong potential at greater depths.

“We now focus on infill drilling and deeper subsurface testing to scale up and position our projects for resource-ready milestones.”

Raptor project and next moves

PEC’s four Raptor tenements covering 380 hectares are proximal to the tier-1 Caldeira project within the 800km2 Poços de Caldas Alkaline Complex.

The tenements host REE mineralisation in nepheline syenite and related alkaline intrusives formed during major magmatic events with Intense weathering leading to an extensive clay regolith.

Planning is currently underway for a follow-up drill program, which may include initial metallurgical testing that would underpin a path to maiden resource estimation.

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.