Perpetual Resources expands Lithium Valley position

Perpetual Resources (ASX:PEC) has expanded its exploration landholding in the Itinga region of Minas Gerais, Brazil, known as Lithium Valley.

The company has executed two option agreements from local landowners, which it says provides a strategic complement to its existing Itinga tenement position.

This includes apparent extensions of the interpreted pegmatite trend and soil anomalies already identified by Perpetual in the region.

The tenements are situated within 30km of lithium deposits at Grota do Cirlo (Sigma Lithium) and the Banderia Project (Lithium Ionic). Most recently, Lithium Ionic has secured options for its Borges and Vale Projects, located some 11km from Perpetual’s Itinga projects, which shares similar geology.

Commenting on the new exploration areas Chairman Julian Babarczy says recent exploration efforts to date had identified Itinga as the highest prospectivity region within the company’s Brazilian exploration portfolio.

“Data collected from our existing land holdings clearly pointed to the high prospectivity of the land we have now secured, both in terms of potential scale and grade. To have confirmed, using LIBS analysis, the highest grades we have seen to date in the region on this newly secured land, is an extremely encouraging result and one which fast tracks our efforts to identify drill-ready targets in coming periods.”

Perpetual is active in exploring for lithium and other critical minerals in the Minas Gerais region of Brazil, where it has secured some 120km2 of highly prospective lithium exploration permits, within the pre-eminent lithium (spodumene) bearing region.

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.

The company continues to review complementary acquisition opportunities to augment its growing portfolio of exploration and development projects consistent with its critical minerals focus.

Write to Adam Orlando at Mining.com.au

Images: Perpetual
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Written By Adam Orlando
Mining.com.au Editor-in-Chief Adam Orlando has more than 20 years’ experience in the media having held senior roles at various publications, including as Asia-Pacific Sector Head (Mining) at global newswire Acuris (formerly Mergermarket). Orlando has worked in newsrooms around the world including Hong Kong, Singapore, London, and Sydney.