Perpetual Resources Ltd (ASX:PEC) has significantly expanded its presence in Brazil’s Lithium Valley, securing three high-potential exploration licenses that increase its regional landholding threefold to 2,559 hectares. The newly acquired tenements—strategically positioned just 3km from the company's existing Isabella Lithium Project—reinforce Perpetual’s position in one of the world’s most promising spodumene-rich lithium districts.
Under the agreement, Perpetual has the option to acquire up to 90% interest in the three tenements over a 30-month exclusivity period. The acquisition is being structured through staged payments totaling USD $1 million to K2 Mineração & Exportação, a long-established exploration group active in the region.
The newly secured areas are neighboring Sigma Lithium’s Grota do Cirilo operation, South America’s largest hard rock lithium mine and the world’s second-lowest cost spodumene producer. This prime location enhances the project’s potential for operational synergies and resource continuity with nearby high-priority lithium deposits.
💬 Julian Babarczy, Executive Chairman of Perpetual Resources, emphasized the significance of the acquisition:
"This is a transformational opportunity for Perpetual, achieving a critical mass for our advanced lithium exploration activities within one of the most exciting spodumene exploration districts on the planet. With confirmed high-grade lithium mineralization, exceptional proximity to established lithium operations, and multiple walk-up drill targets, this acquisition ranks exceptionally high in terms of prospectivity."
The newly acquired licenses contain outcropping spodumene-bearing pegmatites, with historical assays confirming grades exceeding 7.5% Li₂O, including:
✅ 7.6% Li₂O from rock chip sampling
✅ 7.5% Li₂O from spodumene-rich pegmatites
Initial reconnaissance at the Igrejinha license has identified drill-ready spodumene targets, while exploration at the Renaidinho license has uncovered substantial pegmatite formations. The Matrix license, which has yet to undergo modern exploration, is considered highly prospective for lithium mineralization.
Perpetual’s technical team, supported by an in-country geological team, is currently conducting:
🔍 Soil and auger sampling to refine drill targets
🔍 Geophysical and hyperspectral surveys for structural mapping
🔍 Field reconnaissance and detailed pegmatite mapping
To accelerate exploration progress, Perpetual’s Exploration Manager is relocating to Brazil to directly oversee and manage exploration activities throughout 2025.
Perpetual is set to begin its maiden drilling campaign in the first half of 2025, targeting spodumene-rich pegmatites with visible spodumene crystals exceeding 50cm in length. These targets align with broader regional-scale pegmatite trends, offering potential resource continuity with neighboring lithium deposits.
Beyond lithium exploration, artisanal mining activities within the new tenements suggest potential for additional critical minerals, adding further exploration upside.
With this acquisition, Perpetual Resources is significantly strengthening its presence in Brazil’s lithium sector, positioning itself as a key explorer in one of the world’s fastest-growing lithium districts. As global demand for battery metals continues to surge, this expansion provides Perpetual with a highly strategic landholding in proximity to world-class spodumene deposits.
💬 Babarczy further commented on the company’s next steps:
"This acquisition not only enhances our exploration potential but also delivers significant operational synergies with our Isabella Lithium Project. With multiple near drill-ready targets, we are eager to commence drilling and advance these assets towards development as quickly as possible."
With an aggressive exploration strategy and a strong technical team on the ground, Perpetual Resources is well-positioned to unlock the full potential of its expanded Lithium Valley portfolio.
