Power Minerals Limited (ASX: PNN) has reported further high-grade rare earth oxide results from its Morro do Ferro Project in Brazil, highlighted by a significant intercept in drillhole MFSR-056. The company, an exploration and development firm focused on strategic critical minerals in South America, is advancing projects like Morro do Ferro and the Salta Lithium Project. New analyses from MFSR-056 confirmed a thick, high-grade rare earth mineralisation extending 119 metres from surface, further enhancing previous findings.
Specifically, drillhole MFSR-056 returned 119 metres at 4.94% Total Rare Earth Oxide (TREO) with 0.89% Magnet Rare Earth Oxide (MREO) from surface. This impressive intercept included a higher-grade section of 10 metres at 12.31% TREO from 41 metres to 51 metres downhole. Positioned 57 metres northwest of the initial drilling baseline, MFSR-056 was designed to test the geometry of the Morro do Ferro deposit to the north-east, successfully expanding the known mineralisation and confirming the company’s exploration target model. The boundaries of this mineralisation are yet to be fully defined.
Power Minerals Chief Executive Officer, Alistair Stephens, commented on the strong result, noting its significance as the first from the next drill section. “This outcome supports our interpretation that the high-grade rare earth mineralisation continues beyond the area defined by our initial drilling,” Mr Stephens stated. He added that with mineralisation remaining open and further assay results pending, the company’s immediate focus is on systematically defining its geometry and extent, while progressing metallurgical testwork and the work required for a maiden Mineral Resource estimate.
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