Power Minerals (ASX:PNN) has reported the ‘highest’ magnet rare earth oxide (MREO) sample recorded at the Morro do Ferro Rare Earth Project in Brazil.
A 2m sample from 39m in hole MFSR-052 returned 19.51% total rare earth oxides (TREO), including 3.96% MREO.
The broader hole intersected 137m @ 4.31% TREO and 0.73% MREO from surface. This included 53m @ 9.87% TREO and 1.69% MREO from surface.
Within that interval, Power recorded 26.9m @ 13% TREO and 2.4% MREO from 19m—the ‘highest-grade’ wide intersection reported at the project.
MREO comprises neodymium, praseodymium, dysprosium, and terbium oxides. The 26.9m interval contained 1.66% neodymium oxide and 0.67% praseodymium oxide, alongside smaller amounts of dysprosium and terbium oxides.
All reported intervals are downhole lengths, with the true widths yet to be determined.
MFSR-052 was drilled 31.5m from the first hole on the same section. MFSR-051 returned 116m @ 4.78% TREO from surface, including 31m @ 10% TREO and 1.58% MREO from 14m.
CEO Alistair Stephens says the results provide continuity with the mineralisation intersected in the first hole.
“The 137m mineralised interval, including 53m at 9.87% TREO and 1.69% MREO, together with the elevated heavy rare-earth content, provides strong continuity with our first drill hole,” Stephens says.
MFSR-052 also returned 2m @ 87.7 parts per million (ppm) gallium from 83m. However, Power says high rare earth concentrations are interfering with gallium analysis, and it is working with the laboratory to identify a more reliable method.
Two rigs are operating at Morro do Ferro as part of a planned 25-hole, 4,000m program designed to extend mineralisation and collect samples for metallurgical testing. The company notes further assays are pending, although the laboratory has advised of reporting delays.
Power has entered a binding agreement to acquire Morro do Ferro, subject to due diligence and certain exploration milestones.
Power Minerals is an Australian exploration and development company with lithium brine assets in Argentina and rare earth, niobium, and other critical minerals projects in Brazil.
Write to France Pinzon at Mining.com.au
Images: Power Minerals
