Perpetual Resources Limited ('Perpetual' or 'the Company') (ASX:PEC) is pleased to provide an update on drilling progress at its Igrejinha Project, located in Brazil's renowned 'Lithium Valley'.
Reverse circulation (RC) drilling is ongoing at Target 1, where maiden drilling continues to intersect LCT-style pegmatites, where pollucite (the main Caesium mineral) has been identified in RC chips.
Target 1 is a known historical Pollucite and Spodumene artisanal mine with drilling intersecting the continuation of the previously reported outcropping pegmatite to >50m below surface and remaining open at depth. Approximately 750 metres has been drilled, with the remainder of the planned 1,500m program ongoing, with drilling expected to be completed by mid/late July. Initial samples have been submitted to the laboratory with initial assays expected in 2-3 weeks.
Commenting on the drilling, Executive Chairman Julian Babarczy, said: 'Intersecting 200 metres of continuous pegmatite strike from our initial drilling is a highly encouraging result. Field observations suggest potential for a pollucite-bearing system - the primary caesium-bearing mineral - beneath the historical workings, which were previously mined for both pollucite and spodumene. With only a handful of caesium mines globally, Igrejinha is shaping up as a high-quality project with strategic importance. With few active caesium explorers globally - Power Metals Corp in Canada being a notable example - the Company sees an opportunity to advance a high-potential target in Brazil. With half of our drill program still to come, we're only just scratching the surface. Significant strike and depth potential remain untested'.
The program has now demonstrated 200 metres of strike continuity within a known LCTstyle pegmatite at Target 1. Interpreted mineralogy is broadly consistent with observations from nearby artisanal workings, with the pegmatite displaying characteristics associated with caesium (pollucite) and lithium (spodumene) mineralisation. Encouraging mineralogy has been observed, and the initial batch of samples is being fast-tracked for assay
Exploration Cautionary Statement
Drill chips, photographs, and geological interpretations presented are for illustrative purposes only and may not represent the full extent of the drill hole or geological interval. Visual observations are preliminary in nature and should not be relied upon for resource estimation or as a substitute for certified assay data. All geological information remains subject to confirmation by laboratory analysis. Please refer to Appendix A for further descriptions and appropriate disclosures regarding the mineralogy depicted. In addition, pXRF readings have been used as a semi-quantitative, in-field tool to guide geological interpretation and support drill targeting, particularly in relation to potential pollucite zones. These readings are indicative only, and due to the spot-based nature of the instrument and the complexity of pollucite mineralisation, they are considered non-definitive. Laboratory assays of rock chips and drill samples are currently underway to confirm and quantify any caesium mineralisation.
Exploration Cautionary Statement
Values shown are based on portable XRF (pXRF) readings taken directly from selective individual rock chips - not from drilling samples. Results are semi-quantitative and indicative only and do not represent potential grade. Laboratory assays are pending. All samples listed in Table 1 will be re-reported upon completion of analysis by a certified laboratory. Samples were selectively collected from artisanal reject piles adjacent to historical workings. While not in situ, they provide valuable support for field interpretation of caesium-bearing mineralisation. Results are based on portable XRF (pXRF) readings and are considered semi-quantitative only. Laboratory assays are pending to confirm mineral composition and grade. Early indications suggest a strong presence of pollucite (caesium ore), consistent with known small-scale mining of pollucite in the 1980s, adjacent to the drilling area. Ongoing drilling and assays aim to further clarify the distribution and relative abundance of LCT minerals within the system. To date, eleven short drill holes (total 746m) have successfully intersected the interpreted structure, with estimated true widths of greater than 8 metres. These results are consistent with surface mapping, trenching, and geochemical sampling, and support the interpreted geometry of the system. The results are also analogous to the early exploration results at nearby lithium projects such as the XuXa Project, which is part of Sigma Lithium's Grota do Cirilo lithium operation in Minas Gerais, Brazil, which boasts a resource that is currently being mined from a single pegmatite averaging 12-13m thick5 . Down-dip testing is underway, with recent holes indicating the pegmatite continues to depths of >50 metres below surface. Oxidation and weathering are likely to impact the true grade potential due to leaching and physical breakdown of mineral phases. All drilling to date has targeted the known shallow pegmatite, with hole spacing designed to assess continuity along strike. Preliminary observations suggest a single, dominant pegmatite body intersected by an obliquely cross-cutting structure. The contact between these features appears to define a dilational zone, coinciding with historical pollucite extraction and strong expressions of LCT-style mineralisation.
Pollucite - Primary Source of High-Value Caesium9
Pollucite is the dominant ore mineral of caesium, a critical metal essential for high-density drilling fluids, atomic clocks, and advanced electronics, including military applications. This rare caesium-rich aluminosilicate typically forms in highly fractionated lithium-caesium- tantalum (LCT) pegmatites. Globally, pollucite-bearing deposits are exceedingly rare, with only three primary caesium mines known to operate historically: Tanco (Canada), Bikita (Zimbabwe), and Sinclair (Australia). Of these, only Tanco remains active, with Bikita and Sinclair ceasing pollucite production in 2018 and 2019, respectively. The Tanco Mine, owned by China's Sinomine (Hong Kong) Rare Metals Resources Co. Limited, and is located in Manitoba, Canada. Tanco hosts over 60% of the world's known pollucite reserves, making it the largest and most significant source of caesium globally, and it is reported to account for 70-80% of global production. The scarcity of pollucite deposits underscores the strategic value of caesium, which is listed as a critical mineral by several major economies. The presence of pollucite within LCT pegmatite systems offers potential for high-value by-product revenue streams alongside lithium extraction, or as the primary focus of extraction in a select few cases
Contact:
Julian Babarczy
Executive Chairman
Email: info@perpetualresources.com
About Perpetual Resources Limited
Perpetual Resources Limited (Perpetual) is an ASX listed company pursuing exploration and development of critical minerals essential to the fulfillment of global new energy requirements. Perpetual is active in exploring for lithium and other critical minerals in the Minas Gerais region of Brazil, where it has secured approximately 12,000 hectares of highly prospective lithium exploration permits, within the pre-eminent lithium (spodumene) bearing region that has become known as Brazil's 'Lithium Valley'. Perpetual also operates the Beharra Silica Sand development project, which is located 300km north of Perth and is 96km south of the port town of Geraldton in Western Australia. Perpetual continues to review complementary acquisition opportunities to augment its growing portfolio of exploration and development projects consistent with its critical minerals focus.
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