Perpetual Resources Uncovers 200m Lithium-Caesium Pegmatite at Igrejinha
Perpetual Resources has reported a successful maiden drilling campaign at its Igrejinha Project in Brazil, intersecting a significant 200m lithium-caesium pegmatite body. The company also advances its rare earths exploration at the Raptor Project, supported by a recent $500,000 capital raise.
- Maiden drilling at Igrejinha intersects 200m LCT pegmatite with spodumene and pollucite
- Assay results from Igrejinha drilling expected in August
- Raptor Rare Earth Project shows strong potential with high-grade REE intercepts
- Completed $500,000 capital raising to fund exploration activities
- Cash position at quarter end stands at $0.83 million with ongoing exploration expenditure
Exploration Breakthrough at Igrejinha
Perpetual Resources Ltd has delivered encouraging results from its maiden reverse circulation drilling program at the Igrejinha Lithium and Caesium Project, located in Brazil’s renowned Araçuaí Pegmatite District. The drilling intersected a continuous 200-metre-long lithium-caesium-tantalum (LCT) pegmatite body, confirming the presence of fertile mineralisation from surface to over 50 metres depth. Visual identification of spodumene and pollucite in drill chips highlights the project's dual potential for lithium and caesium, two critical minerals in global energy transition technologies.
This initial drilling only tested a fraction of the 1.4-kilometre lithium soil anomaly identified through extensive geochemical sampling, suggesting substantial upside for future exploration. Additionally, new pegmatite discoveries at the South East Anomaly, located 2.3 kilometres from the main target, further underscore the broader prospectivity of the Igrejinha Project. Assay results from this maiden program are eagerly awaited in August, which will provide definitive grades and resource potential.
Advancing Rare Earths at Raptor
Alongside lithium and caesium, Perpetual is progressing its Raptor Rare Earth Element (REE) Project within the Caldeira Alkaline Complex, also in Minas Gerais. The project has demonstrated significant ionic adsorption clay-style REE mineralisation, with metallurgical test work by ANSTO revealing impressive extraction recoveries, up to 94% for critical magnet rare earths such as neodymium and praseodymium. These elements are vital for manufacturing high-strength permanent magnets used in electric vehicles and renewable energy technologies.
Perpetual is preparing for a follow-up drilling campaign aimed at expanding known mineralisation and moving towards a maiden JORC resource estimate. The company is also exploring potential non-dilutive funding avenues to support this advancement, reflecting growing strategic interest in rare earth supply alternatives amid global market shifts.
Financial and Corporate Developments
To support its exploration activities, Perpetual completed a $500,000 capital raising during the quarter, issuing shares to professional and sophisticated investors. The funds primarily finance the ongoing drilling at Igrejinha. The company’s cash position stood at $0.83 million as of June 30, 2025, with exploration and evaluation expenditures totaling $254,000 for the quarter.
Corporate updates include the resignation of Non-Executive Director Brett Grosvenor and the earlier appointment of Rafael Mottin, who brings valuable Brazilian market expertise. The company also notes early-stage discussions regarding non-dilutive funding options for several assets, though these remain preliminary.
Outlook and Strategic Positioning
Perpetual Resources is strategically positioned within Brazil’s lithium and rare earth mineral provinces, targeting critical minerals essential for the global energy transition. The early drilling success at Igrejinha and promising developments at Raptor highlight the company’s potential to contribute meaningfully to these supply chains. However, with assay results pending and a limited cash runway of approximately 1.5 quarters at current expenditure rates, the company’s near-term focus will be on confirming resource quality and securing additional funding to sustain and expand exploration efforts.
Bottom Line?
Perpetual’s promising drill results set the stage for resource definition, but upcoming assay data and funding strategies will be pivotal.
Questions in the middle?
- What will the upcoming assay results reveal about the grade and continuity of lithium and caesium mineralisation at Igrejinha?
- How will Perpetual advance its funding strategy to extend its exploration runway beyond the next 1.5 quarters?
- What are the timelines and potential scale for defining a JORC resource at the Raptor Rare Earth Project?