Update on Isabella Lithium Project exploration program

Perpetual Resources Ltd (ASX:PEC) has provided an update on its maiden exploration program at the Isabella Lithium Project in Brazil's Lithium Valley. The ongoing exploration has confirmed several spodumene-bearing pegmatite trends, extending up to 800m, supported by newly-found artisanal workings that extend previously mapped continuity. The company aims to develop high-potential lithium drill targets and position the Isabella Project as an advanced lithium exploration opportunity.

Executive commentary on Isabella Project exploration

Building on the high-grade spodumene previously identified at the Isabella Project, our current exploration campaign is exceeding expectations. The discovery of additional extensive historical artisanal workings indicates widespread spodumene mineralization, aligned with our interpreted pegmatite trends, suggests Isabella has the potential to emerge as a significant spodumene area in a region already known for large, high-grade lithium projects.

Summary of Isabella Lithium Project update

Perpetual Resources Ltd (ASX:PEC) has confirmed the presence of multiple spodumene-bearing pegmatite trends at the Isabella Lithium Project, with ongoing exploration efforts targeting the identification of drill targets for a maiden drilling campaign in the first half of 2025. The company's acquisition of permit 830167/2013 in July 2024 marked a significant advancement in its Brazilian lithium exploration efforts. The Isabella Project has confirmed high-grade lithium mineralization, and the current exploration program is expected to delineate near-term drill targets. Perpetual expects to report preliminary rock chip results within the next three weeks, with further results over the coming months, enabling the commencement of the maiden drill program.