Power Minerals (ASX:PNN) has reported ‘high-grade’ rare earth results from its maiden drilling program at the Morro do Ferro Project in Brazil, with the first hole returning 116m at 4.78% total rare earth oxides (TREO) from surface.
Hole MFSR-051 intersected 31m at 10% TREO and 1.58% magnet rare earth oxides from 14m. The hole extends known ‘high-grade’ mineralisation from 71m to 116m downhole.
Individual core samples returned up to 18.12% TREO over 2m from 37m.
CEO Alistair Stephens says the initial results from the maiden program are ‘significant’.
“The first hole from the program has delivered standout results, including a remarkable 1.0% for praseodymium oxide, 2.55% for neodymium trioxide, 986 [parts per million] (ppm) for dysprosium trioxide, and 196ppm for terbium oxide, all reported over 2-metre sample intervals,” Stephens notes.
Other highlights from MFSR-051 include 78m at 6.85% TREO from surface, 58m at 8.36% TREO from surface, and 5.1m at 14.64% TREO from 18m.
The company also intersected ‘high-grade’ gallium mineralisation to end-of-hole, with 13 analyses returning an average concentration of 51.7ppm and a maximum of 62.4ppm across the interval from 122m to 210.9m.
Initial mineralogical work identifies bastnäsite-rich mineralisation as hosting the majority of high-value magnet rare earth elements within the deposit.
Analysis shows approximately 40% of the non‑cerium rare earth inventory comprises magnet rare earth elements.
PNN plans to integrate results from MFSR-051 with the existing database for a maiden mineral resource estimate (MRE), currently anticipated before the end of the year.
Power Minerals is currently drilling the fourth hole in the program, with a second drill rig arriving on site.
The company holds both mining and surface landowner rights to the Manifestos de Mina, guaranteeing uninterrupted access.
Power Minerals is a critical minerals explorer advancing a diversified portfolio across South America and Australia.
Write to JC Villarba at Mining.com.au
Images: Power Minerals
