Power Play: Power Minerals moves forward on deal for Brazilian niobium and rare earths

• Power Minerals moves ahead with acquisition of Santa Anna 
• Due diligence drilling plus historic results highlight the Project’s expansion potential at depth
• Exploration has also validated the company’s exploration model 

Special Report: Due diligence at the Santa Anna project in Brazil has wrapped up with Power Minerals now set to acquire the asset, enhancing its position as a South American focused clean energy metals explorer and developer. 

Power Minerals (ASX:PNN) executed a binding letter of intent for an exclusive option to acquire Santa Anna in April, with the deal hinging on due diligence results.  

Due diligence drilling has since validated Power’s exploration model and highlighted Santa Anna’s expansion potential at depth and at surface, where nearly 90% of the surface area of the Alkaline Complex remains to be explored. 

Thanks to the positive drilling results, Power will now move to formally complete the acquisition and has kicked off a Phase 2 drilling program – designed to extend the project’s mineralised footprint. 

Completion of the acquisition is subject to a binding definitive acquisition agreement between Power and project vendors, EDEM, which is expected to be finalised this month. 

Game-changing deal 

PNN managing director Mena Habib said the company is excited to announce its decision to proceed with the acquisition. 

“Initial drilling demonstrated significant niobium and REE mineralisation both at depth in fresh rock and near surface in the weathered zone,” he said. 

“Importantly, the due diligence drilling has validated our exploration model for the project, that it represents a district-scale carbonatite-hosted niobium and REE exploration opportunity.

“Power views the ability to acquire such a significant carbonatite field as being potentially company changing, and we look forward to completing the acquisition and progressing our targeted exploration programs, to confirm an exploration target and mineral resource estimation.” 

Watch: Power looks to expand niobium-REE zones at Santa Anna in Brazil

Tapping local expertise 

Santa Anna, discovered in 2021 by project vendors EDEM, has an exploration database of 192 drillholes for ~5379m with 196 surface geochemical samples and extensive trenching data. 

Surface soil sampling focused on the centre core of the intrusion, leaving large parts of the structure untouched, highlighting the strong upside as exploration efforts expand.

PNN aims to harness EDEM’s extensive presence, operational scale, and local expertise in Goiás State to drive exploration and unlock the project’s critical minerals potential.

Maiden drilling is already validating the project’s promise, uncovering wide zones of niobium and high-grade REE mineralisation across multiple holes. 

This includes some of the highest grades returned to date including 33,600ppm niobium pentoxide and 35,473ppm total rare earth oxides. 

Power is well funded to advance exploration and development at Santa Anna, with the second milestone payment due in 24 months allowing sufficient lead-time to add project value. 

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.