Power Minerals (ASX: PNN) Extends High-Grade Rare Earth Zone at Morro do Ferro

Power Minerals has reported another broad, high-grade rare earth intersection at its Morro do Ferro project in Brazil.

Drill hole MFSR-054 returned 88 metres at 6.33% total rare earth oxides from surface. That interval contained 1.19% magnet rare earth oxides in whole rock.

It included 50 metres at 9.0% total rare earth oxides from surface. Magnet rare earth oxides within that interval averaged 1.66%.

A higher-grade section returned 20 metres at 12.05% total rare earth oxides from 18 metres. It contained 2.18% magnet rare earth oxides.

Mineralisation Continues Below 88 Metres

Below the upper zone, Power intersected another 79 metres at 1.11% total rare earth oxides. That interval began at 88 metres and contained 0.23% magnet rare earth oxides.

Together, the results establish 167 metres of continuous mineralisation downhole. However, reported lengths are downhole distances and may not represent true thickness.

The hole reached 253.55 metres, leaving assays pending for the final 86.55 metres. Power said the deposit boundary had not been reached.

MFSR-054 was angled northeast, unlike most earlier holes, which were drilled southwest. Its orientation was designed to improve geological control northeast of the deposit’s centre.

The latest result follows broad intersections from the campaign’s first three reported holes. Those included 137 metres at 4.31% and 116 metres at 4.78% total rare earth oxides.

This consistency across differently oriented holes is important for modelling continuity. Still, Morro do Ferro does not yet have a Mineral Resource estimate.

Magnet Rare Earth Content

Total rare earth oxides measure the project’s broader rare earth basket. Magnet rare earth oxides cover neodymium, praseodymium, terbium and dysprosium oxides.

These grades are reported as percentages of whole rock. The mineralisation is microscopic and cannot be visually identified in the drill core.

Power described the mineralised material as massive, fine-grained and generally soft. Grade changes appear gradual rather than bounded by sharp geological contacts.

The near-surface position supports the company’s planning for an initial shallow resource model. Power said that model may support a potential open-pit operation in any future development.

That remains an early-stage concept, with resource definition and metallurgical performance still to be established.

Resource Work Moves Forward

Power will begin planning a maiden Mineral Resource estimate using results from its drilling campaign. The broader program targets about 25 holes and approximately 4,000 metres of diamond drilling.

Two rigs are operating, while assays from subsequent holes remain pending. Dedicated core intervals will also be collected for metallurgical testing.

Separately, MFSR-054 returned about 50 parts per million gallium over 1.5 metres from 96.15 metres. Check samples have been sent to laboratories in Brazil and Australia.

Gallium analysis has been complicated by interference from the project’s high rare earth concentrations. Power is working with its commercial laboratory to refine the analytical method.

The project is subject to a binding acquisition agreement. Completion remains contingent on due diligence and specified exploration milestones.