Promising Lithium Discovery at Isabella Project by Perpetual Resources

November 19, 2024 01:40 PM AEDT | By Team Kalkine Media

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Promising Lithium Discovery at Isabella Project by Perpetual Resources — Image source: shutterstock

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Highlights

Perpetual Resources announces high-grade lithium discovery at Isabella Project in Brazil.

Rock chip sampling reveals lithium oxide grades exceeding 5% in multiple assays.

Exploration indicates a 3 km prospective mineralised corridor with further potential.

Perpetual Resources (ASX:PEC) has reported high-grade spodumene-lithium mineralisation at its Isabella Project license in Brazil. Recent rock chip sampling uncovered lithium oxide (Li₂O) grades exceeding 5%, reinforcing the project’s significant potential in a prolific lithium-rich region.

The company’s exploration efforts focused on two distinct pegmatite trends at Isabella. Assays from these efforts included grades of 5.4% in two areas, with some samples exceeding the maximum detection limit. Additional results recorded grades of 2.9%, 2.2%, and 1.7%. These follow a previous assay in July, which revealed a grade of 5.6%.

The findings highlight three high-grade lithium zones along a pegmatite trend stretching over one kilometer. Regional interpretations suggest the mineralised corridor could extend up to three kilometers when extrapolated at both ends, showcasing the area’s vast potential.

Initial mapping at the Isabella Project also hints at the possibility of parallel or stacked pegmatite formations. These formations could indicate repeated mineralised zones, offering the potential for significant scale in lithium exploration.

Executive Chairman Julian Babarczy expressed optimism about the progress at the project, located in Brazil’s Minas Gerais state, also known as Lithium Valley. Babarczy stated that the results confirm Isabella’s status as a leading exploration play, with spodumene mineralisation identified across multiple locations within two pegmatite trends exceeding one kilometer. The project is expected to provide further opportunities for expansion and resource discovery.

The recent announcement has positively impacted the company’s stock performance. As of 10:48 AEDT, shares of Perpetual Resources were trading at 1.9 cents, marking an 11.76% increase since the market opened.

Perpetual Resources continues to strengthen its position in the global lithium sector with the Isabella Project, leveraging its presence in a region renowned for lithium production. The company’s findings underscore its commitment to uncovering high-grade resources and enhancing its exploration footprint.

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