Power Minerals Ltd (ASX:PNN) has extended broad, high-grade rare earth mineralisation at the Morro do Ferro Rare Earth Project in Brazil, with the third hole of its maiden drilling campaign returning 108.55 metres at 4.15% total rare earth oxides (TREO) from surface to 119.3 metres.
Hole MFSR-053 also produced a project-record magnet rare earth oxide (MREO) result of 4.40% over 1.45 metres from 69.55 metres, while assays from greater depths indicate mineralisation may continue beyond the zones previously tested.
The broad intersection included 29.25 metres at 9.01% TREO and 1.32% MREO from surface, as well as 6.45 metres at 9.34% TREO and 2.87% MREO from 69.55 metres.
Magnet rare earth grades stand out
Within the 6.45-metre high-grade zone, Power reported elevated concentrations of neodymium, praseodymium, dysprosium and terbium, the four elements included in its MREO calculation.
The interval contained 2.10% neodymium oxide, 0.65% praseodymium oxide, 0.10% dysprosium oxide and 0.02% terbium oxide, alongside other heavy rare earths including yttrium, gadolinium, erbium and holmium.
Chief executive officer Alistair Stephens said the third hole continued the pattern of broad, high-grade mineralisation seen in the first two holes and highlighted the potentially strategic nature of the rare earth basket.
“The peak interval of 4.40% MREO, together with elevated levels of dysprosium, terbium, and other heavy rare earths, highlights the potentially strategic character of the rare-earth basket,” he said.
Mineralisation continues at depth
Three separate intersections below 135 metres also returned rare earth mineralisation, including 2 metres at 5,955 ppm TREO from 183 metres, 1.6 metres at 8,364 ppm TREO from 191.5 metres and 2 metres at 4,563 ppm TREO from 201 metres.
MFSR-053 reached an end-of-hole depth of 209.55 metres, with assays for most of the section below 135 metres still pending.
Power also recorded 2 metres at 124.5 ppm gallium from 62 metres, above the previous verified high of 87.7 ppm from MFSR-052. The company is working with its laboratory to refine analytical methods for gallium in samples containing very high rare earth concentrations.
Drilling and test work continue
Power has now completed 11 holes at Morro do Ferro, with 16 sample batches awaiting analysis and drilling continuing. The broader maiden program is targeting around 25 holes for approximately 4,000 metres using two rigs.
Upcoming work includes further assay releases, dedicated sampling for metallurgical test work, mineralogical studies and continued review of the gallium analytical method.
The company said the drilling program is designed to improve definition of the mineralisation by increasing drill density and testing greater depths, while further metallurgical studies are planned to optimise rare earth recovery and processing costs.
About the company
Power Minerals is an exploration and development company focused on critical minerals across South America and other international jurisdictions.
Its portfolio includes the Morro do Ferro Rare Earth Project in Brazil, where it is exploring rare earth elements, niobium and other critical minerals, alongside lithium brine resources in Argentina and additional assets in Australia and Canada.