Power Minerals (ASX:PNN) plans to restart exploration efforts at the Santa Inés Copper-Gold Project in Salta Province in Argentina, buying in on the growing market demand for copper and gold.
Gold in particular is seeing market highs, breaking its pre-existing record at over US$5,500 per ounce on 29 January 2026, according to Trading Economics. This places the precious metal with a 98.42% increase for this year to date.
Meanwhile, copper is sitting at US$6.33 per pound with a 47.44% increase for this year to date. Power Minerals says focusing on its exploration efforts on Santa Inés will allow the company to “unlock value” and buy into this demand.
Power Minerals will conduct geophysical reinterpretation on historical magnetic and induced polarisation data to strengthen its understanding of deep targets, structural modelling by integrating 600m of drill core data to project mineralised dikes, and generate targets for drilling.
Managing Director Mena Habib says the Santa Inés Project is a “compelling opportunity” given the current market status of its prospective commodities.
“We have confirmed the system at the surface and in the first 100m. The real prize, however, may lie deeper,” Habib says.
“The fact that geophysics points to a possible major target at 600m – untested by our shallow scout drilling – gives Power a clear and exciting path forward to add significant value for our shareholders.”
As reported by Mining.com.au, the company also listed on the OTCQB market in the US under the ticker ‘PEIMF’ earlier this month to further expand its reach with North American investors.
Power Minerals is a critical minerals explorer and developer focused on advancing projects prospective for rare earths, niobium, and gallium in South America.
Write to Maddison Elliott at Mining.com.au
Images: Power Minerals
