Perpetual Resources says Isabella has not previously been explored for lithium, but already has identified high grade spodumene. Pic: Getty Images.
Perpetual Resources starts exploration at new project in Brazil’s Lithium Valley
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- PEC to commence ground reconnaissance at new Isabella lithium project
- Previous due diligence has already identified 5.62% Li2O from outcropping pegmatite
- Extensive occurrence of artisanal mines expected to provide fertile exploration potential
- Project sits near Das Neves and Sao Jose lithium projects in Brazil
- Exploration expected to inform future drill targets
Special Report: Perpetual Resources has begun maiden exploration at its recently acquired Isabella lithium project in Brazil’s prolific Lithium Valley.
The 962ha license is adjacent to two confirmed spodumene projects, including Atlas Lithium’s (NASDAQ:ATLX) Das Neves project, where an intersection of 1.47% Li2O over 95.2 meters was reported and a lithium processing plant is expected to come online in Q4 2024.
It’s also close to Sigma Lithium’s (NASDAQ:SGML) Southern Complex (Sao Jose project), which has multiple historical lithium mining activities as well as a current advanced spodumene exploration project.
Perpetual Resources (ASX:PEC) is commencing an aggressive strategy of prospectivity assessment through ground reconnaissance work, focusing on the known spodumene-bearing artisanal mines and conducting in-depth assessments of pegmatite occurrences in the region.
Advanced greenfield opportunity in prime jurisdiction
Isabella is considered a greenfield opportunity with no known contemporary modern exploration conducted, having previously been explored and mined for semi-precious gemstones and ornate granite rather than lithium.
Plus, previous limited rock chip sampling undertaken by Perpetual has confirmed up to 5.62% Li2O from outcropping spodumene-bearing pegmatites.
The company says this underpins a compelling advanced exploration project in a jurisdiction that has confirmed potential for large scale spodumene mineralisation.
This first-pass surface exploration is expected to yield high-potential lithium anomalies, and the results – expected in 3Q CY24 – will inform the establishment of phase two drill target selection.
The Brazilian lithium sector was supercharged this week as Pilbara Minerals (ASX:PLS) lobbed a $560 million scrip takeover of Latin Resources (ASX:LRS) , owner of the Salinas lithium project.
It will heighten interest in Brazilian explorers, earmarking Minas Gerais’ Lithium Valley – where Perpetual is exploring – as the next major spodumene producing jurisdiction in the West outside WA.
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.
