Perpetual Resources (ASX:PEC) said exploration at the Igrejinha lithium project in Brazil returned high-grade assay results of spodumene and cesium from samples collected from outcropping highly mineralized pegmatite, according to a Thursday Australian bourse filing.
It said recent assay results returned spodumene grades exceeding 5.38% of lithium oxide and 5.3% of cesium oxide.
It is now planning to conduct a maiden drilling campaign at the project during the current quarter, and the rigs are scheduled to start in early June.
Its shares rose 15% on market close on Thursday.
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