Power Minerals fields best REE result to date in Brazil

• PNN records 43,385ppm or 4.34% TREO from auger drilling at Santa Anna project in Brazil
• Company picked up the promising REE and niobium project back in April
• Plan is to complete more auger and RC drilling ahead of a maiden resource

Special Report: Power Minerals has fielded exceptionally high-grade clay rare earth results in phase 2 auger drilling at its Santa Anna project in Brazil.

A result of 1m at 43,385ppm or 4.34% total rare earth oxides (TREO) is the best returned by Power from the project.

The company picked up the project – a high-grade niobium carbonatite hosted asset, which is also prospective for rare earth elements (REEs) and phosphate – back in April.

Phase 2 auger drilling is designed to follow up broad zones of niobium and high-grade REE and extend the project’s mineralised footprint to the east and southeast of the maiden RC drilling program.

The 1000m program is also using a smaller auger drill rig to access a priority target area which has significant vegetation cover. 

Four drill holes to date have returned notable intersections, including:

• 1m at 43,385ppm TREO from 11m, containing 26.0% MREO (MN-TM-04);
• 1m at 7,748ppm Nb2O5 from 12m (MN-TM-04);
• 1m at 14,711ppm (or 1.47%) Nb2O5 from 12m to EOH (MN-TM-02); and
• 3m at 12,295ppm (or 1.23%) TREO from 10m to EOH in (MN-TM-01).

“Drill hole MN-TM-04 has returned spectacular results, highlighted by the highest TREO result reported at the Santa Anna project to date, of 43,385ppm – which equates to 4.34% – TREO,” Power Minerals (ASX:PNN) managing director Mena Habib said.

“This intersection was returned within a wider 15 metre zone from surface to end-of-hole depth, which graded 13,212ppm TREO.

“Further strong niobium grades were also reported in this hole.”

Notably, niobium is highly resistant to heat and corrosion and has been gaining prominence as the market becomes increasingly aware that demand is growing for the metal due to its use in the steel, aerospace and emerging clean energy sectors.

Maiden resource the main goal

PNN says the results are a boost of confidence to its near-term goal of confirming a significant resource estimate at the project, with grades indicating a potential world-class and advanced exploration opportunity in the region.

“The latest results from our ongoing auger drilling campaign at the Santa Anna project provide further compelling validation of our exploration model at the project, and in our confidence in its potential to deliver a significant mineral resource estimate,” Habib said.

“The auger drilling program has been successful in defining shallow high-grade REE and niobium mineralisation in the project, and remains ongoing into the previously untested areas.

“These high grades from near-surface are indicating a potential world-class and advanced exploration opportunity with critical minerals for Power.”

The program is ongoing and further results will be released as they are received. 

The company then plans to conduct deeper RC, drilling into the fresh rock beneath the weathered zone at the current target areas following conclusion of the current auger drilling program.

Testing will also be undertaken to confirm the presence of ionic clay REE in the shallow, weathered zone and to determine the individual REE recoveries in the clay-rich portion of the intrusion.

This article was developed in collaboration with Power Minerals, a Stockhead advertiser at the time of publishing. 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.