Power Minerals (ASX:PNN) has returned 91m @ 7.7% total rare earth oxides (TREO) with 1.39% magnet rare earth oxides (MREO) from surface at its Morro do Ferro Project in Brazil.
Hole MFSR-055 also returned 2m @ 22.60% TREO with 4.32% MREO from 25m — the company’s ‘second-highest’ individual sample result.
The broader intersection includes 62m @ 11.1% TREO with 2% MREO from surface, which in turn includes 23.1m @ 17.5% TREO with 3.2% MREO from 13m.
The hole was positioned southeast of the Base Section to assess mineralisation continuity between section lines and support a maiden mineral resource estimate.
Results show continuous TREO mineralisation from surface to at least 91m, corroborating previously identified mineralisation on the southwestern flank of the deposit.
CEO Alistair Stephens says the results reinforce the project’s rare earth mineralisation.
“Drilling between section lines is improving our understanding of mineralisation continuity and providing important data for the maiden Mineral Resource estimate,” Stephens adds.
The company has now reported results from six holes (MFSR-051 to MFSR-056), all returning wide intersections from surface.
Results from MFSR-054 remain pending, including a new zone that returned 5m @ 4.32% TREO with 1.13% MREO from 181m.
Current geological analysis indicates a potential link between rare earth carbonate mineralisation and a hydrothermal system. Power Minerals plans further drilling and geological analysis to define the system’s extent and geometry.
Separately, the company has terminated its non-binding joint venture with Summit Explore for development of the Salta Lithium Project in Argentina. The company says it is assessing other development options for Salta.
Drilling continues at Morro do Ferro, with assays from remaining holes to be released progressively.
Harvesting of the eucalyptus plantation has opened further access, allowing the company to better define the extent and depth of mineralisation.
Power Minerals is an Australian critical minerals explorer and developer advancing rare earth, niobium, and lithium projects in South America.
Write to JC Villarba at Mining.com.au
Images: Power Minerals
