Initial drill results have further validated the prospectivity of Perpetual Resources’ (ASX:PEC) Raptor Rare Earths Project in Brazil.
The latest results have further confirmed the presence of “high-grade” clay-hosted rare earths and potential for ionic-adsorption on clay style mineralisation across an expanded area within the project holdings.
Some of the drilling results recorded include 12m @ 4,601 parts per million (ppm) total rare earth oxide (TREO); 7m @ 4,240ppm TREO; and 10m @ 2,547ppm TREO.
Perpetual Resources, which has a market capitalisation of $6.4 million, says the drilling results relate to the first batch of samples submitted from the Portão Verde prospect, confirming the presence of “high-grade” rare earths mineralisation from surface down to a depth of up to 12m.
Recently appointed rare earths specialist Karl Weber says when the surface results were consolidated, it was clear that the Raptor Project is shaping into an “exciting” exploration project that compares well with nearby projects.
“I also note the strong weighting to the high-value neodymium and praseodymium rare earth oxides, which suggests a high-value TREO assemblage is likely,” Weber says.
“We look forward to the receipt of further drill results from other tenement areas and to then considering deeper drilling to test the rare earths grades beneath the auger drilling.
“The saprolite horizon is generally significantly deeper than the auger penetration capability and the rare earths mineralisation often continues throughout the saprolite.”
Further drill results are expected later this month and will assist with planning for a follow-up and likely deeper drilling program at Raptor. All of the results are expected to be received by mid-September.
Perpetual Resources is an explorer and developer focused on discovering critical minerals essential to the fulfillment of global new energy requirements.
Write to Aaliyah Rogan at Mining.com.au
Images: Perpetual Resources
