Perpetual Resources (ASX:PEC) said ongoing reverse circulation drilling at its Igrejinha project in Brazil intersected continuous, mineralized lithium-cesium-tantalum pegmatite over 200 meters of strike, from surface to over 50 meters of depth, confirming significant potential, according to a Wednesday Australian bourse filing.
The samples were fast-tracked for analysis, and the initial assay results are due within weeks.
The drilling intercepted pegmatite below high-grade rock chip samples. Portable x-ray fluorescence spot readings from artisanal workings returned high readings of up to 41.5% grade cesium.
Its firm's shares rose 36% on Wednesday's close.
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