Igrejinha Drilling Hits 200m Continuous LCT Pegmatite; Assays Due Mid-July

• 200m continuous LCT pegmatite strike intersected at Target 1
• Visual identification of spodumene and pollucite minerals
• Initial assay results expected mid-July, with further batches through August
• New southeast pegmatite target with over 300m strike identified
• Potential for rare caesium resource in globally scarce pollucite system

Significant Pegmatite Intercept at Igrejinha

Perpetual Resources Limited (ASX, PEC) has reported a major milestone in its ongoing exploration at the Igrejinha Project, situated in Brazil’s renowned Lithium Valley. The company’s maiden reverse circulation drilling has intersected a continuous lithium-caesium-tantalum (LCT) pegmatite over a strike length exceeding 200 meters, extending from surface to depths beyond 50 meters. This discovery confirms the significant scale potential of the mineralised system and remains open in all directions.

Visual logging of drill chips has identified spodumene, a lithium-bearing mineral, alongside pollucite, the primary ore mineral of caesium. These observations, supported by portable XRF readings, suggest that Igrejinha could emerge as one of the few active caesium exploration projects worldwide, a rare and strategically important metal.

Strategic Caesium Potential in a Rare Mineral System

Caesium, primarily sourced from pollucite, is a critical mineral used in high-tech applications such as atomic clocks, advanced electronics, and high-density drilling fluids. Globally, pollucite deposits are exceptionally scarce, with only a handful of mines historically operating, most notably the Tanco Mine in Canada. The identification of pollucite-bearing pegmatites at Igrejinha positions Perpetual Resources in a strategically valuable niche, potentially offering a high-value by-product alongside lithium extraction.

Executive Chairman Julian Babarczy highlighted the significance of the find, noting the rarity of caesium mines globally and the strategic importance of advancing such a project in Brazil. With only half of the planned 1,500-meter drill program completed, the company is optimistic about the untested strike and depth potential.

Expanding Exploration Horizons

Beyond the main Target 1 area, Perpetual has identified a new mineralised pegmatite zone in the southeastern portion of the license, exhibiting over 300 meters of strike with two parallel pegmatite bodies up to 10 meters thick. This newly discovered target remains untested by drilling but will be fast-tracked in the current program, potentially expanding the known mineralised footprint significantly.

Initial assays from the first batch of samples are expected within weeks, with further results anticipated through July and August. These will be critical to confirming the grades and continuity of both lithium and caesium mineralisation, which to date have been inferred from visual observations and semi-quantitative field measurements.

Outlook and Market Implications

Perpetual Resources’ progress at Igrejinha underscores the growing importance of critical minerals in the global energy transition. The combination of lithium and caesium resources within a single project offers a compelling value proposition, particularly given the scarcity of pollucite deposits worldwide. As assay results emerge and drilling advances, market participants will be watching closely to assess the project's potential to contribute meaningfully to the supply of these strategic metals.

Bottom Line?

With assays imminent and new targets emerging, Perpetual Resources is poised to deepen its foothold in the rare caesium-lithium space.

Questions in the middle?

• What will the initial assay results reveal about the grade and continuity of pollucite and spodumene?
• How might the new southeast pegmatite target impact the overall resource potential at Igrejinha?
• What are the next steps for advancing the project towards resource estimation and potential development?