Continuous High-Grade REEs of Up to 6,327 ppm Signal Positive Outlook for Perpetual Resources (ASX: PRU) in Brazil

August 21, 2024 10:27 AM AEST | By Team Kalkine Media

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Continuous High-Grade REEs of Up to 6,327 ppm Signal Positive Outlook for Perpetual Resources (ASX: PRU) in Brazil — Image source: shutterstock

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Perpetual Resources Ltd (ASX:PEC) has announced a series of high-grade results from drilling at its Raptor REE (rare earth elements) project in Brazil. The latest data demonstrates significant continuity of high-grade mineralisation across two Raptor licenses.

Drilling across seven holes at the project has yielded grades as high as 6,327 ppm (parts per million) TREO (total rare earth oxides). The results also highlighted elevated levels of Neodymium-Praseodymium (Nd+Pr) rare earths, with some drill holes showing Nd+Pr ratios of up to 35%.

Noteworthy intercepts include:

5 meters at 5,591 ppm TREO (with a 35% Nd+Pr ratio), ending in 5,533 ppm TREO (33% Nd+Pr)

3 meters at 3,569 ppm TREO (with a 27% Nd+Pr ratio) from 6 meters depth, ending in 3,846 ppm TREO (31% Nd+Pr)

Karl Weber, Perpetual’s newly appointed REE specialist, commented that the results reflect a promising future for the company in this tier 1 REE district. He noted, “With results from all but eight holes of the maiden drill program now in, we are observing a growing high-grade rare earth discovery at our Raptor Project in Minas Gerais, Brazil. Mineralisation is present across multiple tenement areas, and further results are still awaited.”

Weber also highlighted that all drilled holes intersected mineralisation from just below the surface to the end of the hole, suggesting strong potential at depth. The Nd+Pr oxide content in the higher-grade zones consistently exceeds 20%, underscoring the need for additional drilling to explore extensions of the mineralisation.

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