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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.