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Highlights
- Perpetual Resources shares jumped 20% to 1.8 cents after securing up to 90% ownership of three advanced lithium exploration tenements in Brazil’s “Lithium Valley.”
- The acquisition expands Perpetual’s lithium landholding threefold, bringing its total project area to 2,559 hectares.
- Maiden drilling program planned for H1 2025, targeting high-grade spodumene-rich pegmatites.
Perpetual Resources Limited (ASX:PEC) saw its share price soar by 20% to 1.8 cents on the morning of 19 February 2025, following the announcement of a major lithium acquisition in Brazil.
The company has signed a definitive option agreement securing up to 90% ownership of three advanced lithium exploration tenements in the Minas Gerais region, a globally recognized lithium hotspot often referred to as “Lithium Valley.” The new tenements are located less than 3 km from Perpetual’s existing Isabella Lithium Project, significantly expanding the company’s footprint in the region.
Strategic Expansion in a High-Value Lithium Hub
With this acquisition, Perpetual has tripled its landholding in one of the world’s most sought-after lithium regions. The newly secured 2,559-hectare exploration area features:
- High-grade spodumene mineralization, with rock chip samples assaying up to 7.6% Li₂O.
- Large spodumene crystals (>50cm in length) and significant outcropping pegmatites, estimated to contain ~20% spodumene within visual outcrops.
- Drill-ready targets, complementing Perpetual’s Isabella Lithium Project, where previous assays returned up to 6.8% Li₂O.
- Proximity to major lithium players, including Sigma Lithium, Lithium Ionic, and Atlas Lithium, with geological trends suggesting potential continuity of high-grade deposits into Perpetual’s newly acquired licenses.
Aggressive Exploration Plan for 2025
Perpetual is set to launch an extensive maiden drilling program in the first half of 2025, targeting spodumene-rich pegmatites across its expanded landholding. To support its exploration efforts, the company has relocated its Exploration Manager to Brazil and partnered with K2 Mineração & Exportação Ltda, a well-established local operator with decades of lithium mining expertise.
Additionally, Perpetual’s in-country team is already on-site conducting reconnaissance activities to identify new spodumene occurrences and further refine high-potential drilling targets.
A Major Step Toward Lithium Market Leadership
The Minas Gerais region is home to Sigma Lithium’s Grota do Cirilo operation, South America’s largest hard rock lithium producer and the world’s second-lowest-cost spodumene operation. By securing a dominant position in this lithium-rich corridor, Perpetual has significantly strengthened its long-term strategy of developing high-value battery metal projects.
