Perpetual Resources soars with deep, high grade rare earths discovery at Raptor

PEC reports TREO grades >4,000ppm at Raptor rare earths project in Brazil
Grades comparable to Meteoric Resources’ and Viridis Mining and Minerals’ ionic clay REE projects
Company planning deeper drilling in future

Special Report: Perpetual Resources has reported a high-grade rare earths discovery from its maiden drilling program at the Raptor REE project in Brazil.

The company’s initial drill results have confirmed that exceptionally high TREO grades exceeding 4,000ppm persist at depth, with a significant weighting towards the higher-value Neodymium-Praseodymium (Nd+Pr) rare earth oxides – further enhancing the Raptor project’s potential.

All holes start at surface and end in mineralisation, indicating potential depth continuity, with standout intercepts including:

12m at 4,601ppm TREO (23% Nd+Pr)
7m at 4,240ppm TREO (23% Nd+Pr);
10m at 2,547ppm TREO (21% Nd+Pr).

Perpetual Resources (ASX:PEC) says these results suggest the Raptor project could potentially be among the best Caldeira-style clay-hosted REE exploration opportunities.

Significant drill and surface results located on tenement number 830.310/1979. Pic via PEC

Grades comparable to regional peers

Last month, the company reported 4,553 ppm TREO within a surface channel sample of 5m at 3,695 ppm TREO, averaging 708 ppm Nd+Pr oxide (19% of TREO).

This new drilling data confirms the high-grade mineralisation identified at surface continues at depth and highlights the potential for Ionic Adsorption on Clay (IAC) style mineralisation across an expanding area.

The grades also compare favourably to proximal and similar style ionic clay REE projects, such as Meteoric Resources’ (ASX:MEI) resource estimate of 545 million tonnes at 2,561ppm and Viridis Mining and Minerals’ (ASX:VMM) resource estimate of 201 million tonnes at 2,590ppm.

“It is extremely encouraging to have delivered such high REE grades in our maiden drill program at the Raptor project and when consolidated with the high-grade surface results, it is clear that the Raptor project is shaping into an extremely exciting exploration project that compares well with nearby projects,” Perpetual’s REE specialist Karl Weber said.

“I also note the strong weighting to the high value Nd+Pr rare earth oxides, which suggest a high value TREO assemblage is likely.”

Deeper drilling on the cards

The saprolitic mineralisation encountered, hosted by weathered alkaline rocks, is characteristic of Caldeira-style Ionic Clay REE mineralisation – which was a key factor in Perpetual’s decision to acquire this highly prospective project area.

Additional drill results are expected later in August and will assist with planning for a follow-up and likely deeper drilling program at the Raptor project shortly thereafter.

“We look forward to the receipt of further drill results from other tenement areas and to then considering deeper drilling to test the REE grades beneath the auger drilling,” Weber said.

“The saprolite horizon is generally significantly deeper than the auger penetration capability and the REE mineralisation often continues throughout the saprolite.”

Perpetual expects to receive additional assay results from the exploration program, including both surface and deeper drilling samples, with all results received by mid-September.

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.