Power Minerals (ASX:PNN) is planning to conduct a maiden drilling program at the Tântalo Project in Brazil, after completing a first-pass reconnaissance sampling program.
The sampling program was conducted as part of a 60-day due diligence period. Power Minerals signed a term sheet in September 2024 for an exclusive option to buy the project.
Power Minerals, which has a market capitalisation of $10.9 million, plans to undertake drilling to further confirm the presence of mineralisation within Tântalo, subject to site access.
Meanwhile, results from the reconnaissance program confirmed the presence of niobium-tantalum-rare earths pegmatite intrusions exposed in artisanal workings.
The results include 47.3% niobium pentoxide and 20.7% tantalum pentoxide with 3,251 parts per million (ppm) partial rare earth oxide (REO).
Other results include 31.8% niobium pentoxide and 23.8% tantalum pentoxide with 6,775ppm partial REO and 11.2% niobium pentoxide and 25% tantalum pentoxide with 10,442ppm partial REO.
Managing Director Mena Habib says these results confirm that mineralised pegmatites are present within the Tântalo Project.
“The results have provided a strong level of initial confidence in the project’s exploration potential,” Habib says.
The Tântalo Project consists of 12 granted permits covering 57.8km2 and is located immediately south of the Nióbio Project in the Paraiba state, Brazil.
Power Minerals is an explorer focused on developing lithium assets in Argentina and niobium prospective assets in Brazil.
Write to Aaliyah Rogan at Mining.com.au
Images: Power Minerals
