Overview of Perpetual Resources Ltd's Itinga lithium exploration program

Perpetual Resources Ltd (ASX: $PEC) has announced the commencement of its maiden systematic exploration program at the recently acquired Itinga Project in the 'Lithium Valley' region of Minas Gerais, Brazil. The program aims to focus on multiple areas with promising preliminary due diligence samples revealing LIBS rock chips results with anomalous peak values >1.0% Li2O. The company's exploration manager, Allan Stephens, expressed excitement about the mobilization of the in-country team onto the newly secured exploration areas, highlighting the high prospectivity suggested by multiple overlapping confirmatory data points.

Executive commentary on Itinga lithium exploration program

Perpetual Exploration Manager, Allan Stephens, stated, 'We are excited to have recently mobilised our in-country team onto the newly secured exploration areas, which now have multiple overlapping confirmatory data points that suggest high prospectivity. We also recently received the first round of hyperspectral analysis which, pleasingly, has shown coincident targeting with known anomalism as well as highlighting new areas that will be targeted on this campaign. Now that we are once again underway on our in-country exploration program, we look forward to reporting back lithium results in coming weeks and months. Additionally, we are also now well advanced on planning for the maiden due diligence exploration program at the recently optioned Raptor REE Project, located within the prolific Caldeira REE complex, representing another high impact project for Perpetual and our shareholders.'

Summary of Perpetual Resources Ltd's Itinga lithium exploration program

Perpetual Resources Ltd (ASX: $PEC) has initiated its maiden exploration program at the Itinga Project, focusing on the recently optioned lithium exploration licenses in the 'Lithium Valley' region of Minas Gerais, Brazil. The program aims to assess multiple areas with promising preliminary due diligence samples revealing LIBS rock chips results with anomalous peak values >1.0% Li2O. The company's activities include enhanced sampling, mapping initiatives, and machine-data-learning hyperspectral analysis to identify priority targeting information. The program is geared towards a maiden drill program later in 2024. Additionally, the company is planning for a due diligence exploration program at the recently optioned Raptor REE Project, with updates expected in the coming weeks. Perpetual's Itinga Project spans five separate licenses, strategically located in the renowned lithium-rich Itinga Pegmatite field, and aims to rapidly advance the green fields exploration program. The company continues to review complementary acquisition opportunities to augment its growing portfolio of exploration and development projects consistent with its critical minerals focus.