Power Minerals (ASX:PNN) has reported 119m @ 4.94% total rare earth oxides (TREO) from surface at its Morro do Ferro Project in Brazil, confirming mineralisation extends beyond the initial drilling baseline.
The intersection from hole MFSR-056 includes 10m @ 12.31% TREO with 1.88% magnet rare earth oxides (MREO) from 41m.
The hole was positioned 57m northwest of the original drilling baseline to test mineralisation geometry on the next section line.
CEO Alistair Stephens says the result supports the company’s interpretation that ‘high-grade’ mineralisation continues beyond the area defined by initial drilling.
“This is the first result from our next drill section, 57m northwest of the original baseline,” Stephens adds.
Power received complete assay results for 42 samples from MFSR-056, after announcing initial results for 20 samples on 29 September.
Drilling intersected continuous TREO mineralisation from surface to at least 119m, including a 4.4m magnetite dyke from 59.5m with 2,825 parts per million (ppm) TREO.
Additional ‘high-grade’ intervals include 6m @ 8.91% TREO with 1.89% MREO from 92m, and 2m @ 11.05% TREO with 2.27% MREO from 96m.
The results support the exploration target announced on 22 September, which indicated mineralisation extends both vertically and to the northwest. MFSR-056 was drilled to a total depth of 202.2m at a dip of 60° to the southwest.
Power has completed 18 drillholes totalling over 3,000m at the project, with samples dispatched to SGS Geosol Laboratory. Assays for several holes remain pending.
The Morro do Ferro Project sits within a 300.72-hectare mining title in Minas Gerais, about 13km southeast of Poços de Caldas.
The deposit is hosted within the Poços de Caldas alkaline complex, which contains bastnasite and cerianite as the main rare earth-bearing minerals.
Stephens says the focus is now on defining the mineralisation’s geometry and extent while advancing metallurgical testwork and work required for a maiden mineral resource estimate.
Power Minerals is an Australian critical minerals explorer and developer advancing rare earths, niobium, and lithium projects across Brazil and Argentina.
Write to JC Villarba at Mining.com.au
Images: Power Minerals
