Perpetual Resources’ tenements are on the same geological formation at MEI’s Caldeira project. Pic: via Getty Images.
Perpetual’s high-grade results put Raptor among best ionic clay rare earths projects globally
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- PEC reports up to 4,553ppm TREO, within 5m at 3,695 TREO at Raptor
- Project comparable to MEI’s high-grade ionic adsorption clay REE deposit
- More assay results from surface sampling and auger drilling program pending
Special Report: Initial samples from Perpetual Resources’ Raptor rare earths project in Brazil have returned grades of above 4,500ppm total rare earth oxides from surface, positioning the project among the best Caldeira-style ionic clay-hosted REE exploration projects globally.
Notably, neodymium and praseodymium (Nd+Pr) oxide results were extremely positive with an average grade of 708ppm Nd+Pr oxide (19% of the TREO) over the 5m channel sample.
The initial grades compare favourably to proximal and similar style ionic clay rare earth elements projects, like Meteoric Resources’ (ASX:MEI) Caldeira project, considered one of the world’s highest-grade ionic adsorption clay REE deposits with a mineral resource estimate of 545 million tonnes at 2,561ppm TREO comprising 24.1% MREO.
The Raptor tenements are located proximal to and on the same geological formation as the Caldeira project.
Auger drilling underway
The company says the early confirmation of Raptor’s prospectivity for ionic clay REE mineralisation ensures the project can be assessed efficiently within the ongoing exploration program.
Plus, these results relate to surface (saprolite) sampling only, with deeper drilling results expected shortly which could further bolster the project’s prospectivity.
“The early identification of high-grade surface enrichment has been confirmed by multiple assays over 4000ppm TREO which is an excellent start to the exploration program,” Perpetual Resources (ASX:PEC) REE specialist Karl Weber 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.”
Mutli-element plays in Brazil progressing
In the meantime, the company has snapped up the Isabella project in Brazil’s growing Lithium Valley region in Minas Gerais, Brazil, and has already sampled rock chips with up to 5.7% Li2O.
Isabella is a 962-hectare license in Brazil’s Minas Gerais State, wedged between companies already proving up huge lithium deposits.
The nearby establishment of Sigma Lithium’s monster 93.4Mt at 1.4% Li2O Grota Do Cirilo project and Atlas Lithium’s flagship Das Neves, where recent drilling intersected 1.47% Li2O over 95.2m, have shown how prospective it is.
A processing plant at Das Neves, just 500m from Perpetual’s Isabella, is due to come online in the fourth quarter.
PEC has also recently reported high-grade tin plus anomalous lithium, rubidium, niobium and manganese at its Itinga project – also in Minas Gerais.
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.
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