Perpetual Resources Limited

Perpetual Resources Limited has kicked off a metallurgical test work program on samples from recent auger drilling at its Raptor rare earth project in Brazil.

We're pleased to announce the launch of a metallurgical test work program on drill samples obtained from the recent auger drilling at our Raptor REE Project, situated in the highly regarded Caldeira Alkaline Complex in Minas Gerais, Brazil. The program will be conducted at ANSTO in Sydney, New South Wales, recognized as a global leader in metallurgical testing for rare earth element projects. We anticipate receiving metallurgical results from ANSTO before the end of CY2024, further validating the project’s potential. Our Executive Chairman Julian Babarczy said: “The Caldeira Alkaline Complex in Brazil is renowned for hosting some of the most promising and established rare earth element projects in South America and the highest grade ionic absorption clay hosted projects in the world. Our initial results from the auger program have been outstanding, demonstrating the strong potential for Perpetual to replicate the success seen by others in this world-class REE jurisdiction. These metallurgical tests aim to validate our belief in the area's ionic absorption clay potential and will be crucial in developing the process flowsheet as we advance our project." Read more: https://loom.ly/hDEpCik

Perpetual Resources Limited has signed a non-binding memorandum of understanding with the Government of Minas Gerais and Invest Minas to advance its projects in the state.

We're pleased to announce the signing of a Memorandum of Understanding between Perpetual and the State Economic Development Department and the Integrated Development Institute of Minas Gerais (Invest Minas), to facilitate advancement of Perpetual’s numerous exploration projects spanning lithium, rare earth and tin, in the State of Minas Gerais, Brazil. Our Executive Chairman Julian Babarczy commented: “We are honoured to have partnered with Invest Minas to advance our exciting lithium, rare earth and tin projects in the State of Minas Gerais, Brazil. To have received such support for our projects from the State Government is a strong endorsement of the quality of our exploration assets and underpins our ability to advance these projects with full support from local and state governments divisions. "We thank Invest Minas for their pioneering assistance to companies such as ours, which acknowledges the strong shared benefits that Perpetual and the State of Minas Gerais will receive upon successful exploration and development of our projects." Read more: https://loom.ly/4VdstfI

We're pleased to release our Quarterly Activities Report for the period ended 30 September 2024. Read it here: https://loom.ly/WAQtJB0

Fantastic to see our neighbour Atlas Lithium Corporation (Nasdaq: ATLX) announcing it has received the operational permit for its flagship Neves Project – located 0.5 km from Perpetual’s Isabella license – from the Government of the State of Minas Gerais in Brazil. Atlas now has all of the necessary authorisations to assemble and run its processing plant and develop open-pit mining operations at one of its lithium deposits. Brazil remains highly supportive of critical minerals projects, recognising the importance of timely permitting and project approvals in the competitive global market, as it seeks to position itself as a pivotal player in the global energy transition.

This week we announced the completion of the maiden exploration program at our recently acquired Isabella Project in Brazil’s prolific Lithium Valley. The program was centred on a high-impact sampling campaign, targeting known spodumene-bearing artisanal workings while expanding exploration across the broader license area. Multiple spodumene occurrences were identified, with mineralised trends exceeding 1km and open along strike. The presence of multiple strong targets, close in proximity, reinforces our confidence in uncovering further linkages within this pegmatite system at depth, which we are eager to develop and unlock. 88 rock chip samples are being sent to labs in Brazil with results expected over the next in 4-8 weeks. Hear our Executive Chairman Julian Babarczy discuss in the video below 📹

Discussion of the completion of the Phase 1 program at our Isabella Project in The Australian Business Review 🗞️ Read the full coverage here: https://loom.ly/nUjIy5Y

The maiden Phase 1 exploration program has been completed at our recently acquired Isabella Lithium Project. The program was centred on a high-impact sampling campaign, targeting known spodumene-bearing artisanal workings while expanding exploration across the broader license area. Multiple spodumene occurrences were identified, with mineralised trends exceeding 1km and open along strike. 88 rock chip samples are being sent to labs in Brazil with results expected over the next in 4-8 weeks. Our Exploration Manager Allan Stephens said: "The Isabella Project is quickly proving itself as a prime exploration opportunity in the heart of the prolific Lithium Valley in Brazil. In just a few months, we have expanded on initial reconnaissance findings, identifying multiple pegmatite trends with spodumene mineralization continuity over 1km, with potential for further growth. The presence of multiple strong targets, close in proximity, reinforces our confidence in uncovering further linkages within this pegmatite system at depth, which we are eager to develop and unlock. We look forward to sharing the upcoming results with you soon." Read more: https://loom.ly/0rhXRhE

Last month, the U.S Embassy and Consulates in Brazil resumed the U.S.-Brazil Strategic Minerals Dialogue. These discussions underscored the shared goals of both countries in advancing sustainable mining practices while securing a stable supply of critical minerals essential for future clean energy needs, including lithium and rare earth elements. The dialogue highlighted Brazil’s potential as a significant partner for the U.S. in critical minerals supply chains, leveraging the country's vast mineral resources. Brazil's participation in the U.S.-led Minerals Security Partnership was also further explored, with discussions around joint investments in infrastructure, technology transfer and mineral processing. The Minerals Security Partnership plays a critical role in ensuring that the U.S. and its allies have access to minerals for the clean energy transition, particularly for the production of electric vehicle batteries, renewable energy technologies, and other critical applications in defense and electronics. Read more: https://loom.ly/AP3Q-Qk