Perpetual Resources (ASX: PEC) has announced promising metallurgical test results from its Raptor Rare Earth Element (REE) project in Brazil, confirming its potential as a significant Ionic Adsorption Clay (IAC) REE deposit. Testing by the Australian Nuclear Science and Technology Organisation (ANSTO) showed impressive recoveries of Magnet Rare Earth Elements (MREE), specifically Neodymium (Nd), Praseodymium (Pr), Terbium (Tb), and Dysprosium (Dy), reaching up to 94% in un-optimised conditions.
The nine composite samples tested consistently demonstrated high MREE recoveries. For example, sample PER-C6 exhibited a 94% MREE recovery from a 3-meter composite with a head grade of 5,327 ppm TREO (including 1,327 ppm MREO). Similar results were observed in other samples, highlighting the widespread presence of high-value REEs across multiple project targets. The average thorium content of the samples was 52 ppm and the average uranium (U) content was 9 ppm, with U/TREY ratios comparable to other IAC deposits.
These metallurgical results position Raptor favorably against nearby projects, such as Meteoric Resources’ (ASX:MEI) Caldeira project. Perpetual Resources is now planning follow-up work programs to capitalize on these findings. Perpetual has also renegotiated payment terms for the Raptor Project, reducing the outstanding amount by 20% to US$176,000 with payments extended through May 2026. An additional payment of US$43,962 will become payable if the Neodymium and Praseodymium (NdPr) price reaches or exceeds US$75/kg within the next 18 months. The company intends to define a JORC-compliant resource through further drilling and detailed metallurgical analysis.
