Power Minerals (ASX:PNN) reports ‘high-grade’ rare earth oxide mineralisation extended at depth along a new section at its Morro do Ferro Project in Brazil.
Drill hole MFSR-056 intersected 39m @ 4.42% total rare earth oxides (TREO) with 0.95% magnet rare earth oxides (MREO) from 80m downhole, including 6m @ 8.91% TREO with 1.89% MREO from 92m; and 2m @ 11.05% TREO with 2.27% MREO from 96m.
The hole was positioned 57m north-east of the initial drilling baseline to test mineralisation extension along the subsequent section line. Results from surface to 80m remain pending, with previous drill holes in the area returning ‘high-grade’ TREO in near-surface intervals.
“These results extend the area of confirmed high-grade rare earth mineralisation at Morro do Ferro, with MFSR-056 returning 39 metres downhole at 4.42% TREO, including 0.95% magnet rare earth oxides,” CEO Alistair Stephens says.
Assays for 20 samples from MFSR-056 demonstrate sustained TREO mineralisation from surface to at least 119m depth, with the deepest sample still mineralised.
Previous drill hole MFSR-054 returned 88m @ 6.33% TREO with 1.19% MREO from surface, followed by 93m @ 1.06% TREO from 88m, and 5m @ 4.32% TREO with 1.13% MREO from 181m in a new ‘high-grade’ zone.
The project is hosted within the Poços de Caldas alkaline intrusion, a circular structure 33km in diameter comprising alkaline volcanic and plutonic rocks. Initial assessments suggest the mineralisation may be associated with a hydrothermal system.
Power Minerals has completed 18 drill holes totalling more than 3,000m, with assays for numerous holes pending. Samples from MFSR-053 to MFSR-067 have been dispatched to SGS Geosol Laboratory.
Stephens says the focus remains on defining the mineralisation, advancing metallurgical testwork, and progressing towards a maiden mineral resource estimate. Further drilling and geological analysis will determine the full extent and geometry of the mineralisation.
Power Minerals is an Australian explorer advancing a portfolio of lithium, niobium, and rare earth assets in South America.
Write to JC Villarba at Mining.com.au
Images: Power Minerals
