HIGHLIGHTS
The Binding Term Sheet allows Perpetual to undertake due diligence for an initial 90-day period, for the payment of US$30,000, with Perpetual also holding the right for an additional 90-day due diligence extension period for an additional US$30,000, if required.
Tenement Overview
Perpetual considers the location of the Exploration Tenement package it has secured exposure to as being in one of the most prospective geological settings for REE exploration in the world, evidenced by the high quality of the nearby projects.
The “Raptor” Tenements are located proximal to and on the same geological formation as Meteoric Resources (ASX:MEI) Tier 1 Caldeira ionic clay REE project, which boasts a JORC Mineral Resource Estimate of 545 million tonnes @ 2,561ppm TREO comprising 24.1% MREO2 which is considered one of the world’s highest grade ionic adsorption clay REE deposits.
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