Power Minerals (ASX:PNN) delivers highest grade rare earth assays from Santa Anna Project

Power Minerals Limited (ASX:PNN) has confirmed its highest grade rare earth element drill results to date from the Santa Anna Project in Brazil.

A re-assay program conducted by ALS Laboratories has provided values that are significantly higher than those previously reported, replacing the earlier SGS analyses and strengthening the company’s confidence in the project.

In this Q&A, Managing Director Mena Habib addresses key investor questions about the announcement.

What is the significance of these new re-assay results at Santa Anna?

The re-assay program has produced the highest rare earth grades reported at the project so far.

For example, hole MN-AC-0007 returned 14 metres at 1.79% TREO from surface, including one metre at 6.20% TREO with 0.76% neodymium and praseodymium.

In addition, hole MN-RC-0009 reported 51 metres at 1.16% TREO from surface, including one metre at 5.50% TREO.

These updated results now replace the earlier SGS data in Power’s resource model, as the previous results only represented minimum estimates.

“Having re-assayed samples from previous drilling by project vendor EDEM at the Santa Anna Project, we are excited to announce the highest grade REE drilling results to date at the project.”

How do these results enhance Power Minerals’ understanding of the Santa Anna Project?

The assays confirm that rare earth mineralisation at Santa Anna is not confined to shallow clays but also extends into fresh rock at depth.

This indicates that the project contains both near-surface high-grade clays and deeper mineralised zones, broadening the potential scale of the system and guiding future exploration activity.

“The exceptional outcomes of the re-assaying have verified and superseded previous sample results, and importantly have provided us with a deeper understanding of our exploration model for the Project – in particular in relation grade and potential size.”

What role does niobium play in these results, and why is it important?

Niobium is an important component of the mineralisation at Santa Anna.

The ALS results showed slightly higher average niobium values compared to the earlier SGS data, confirming that the previous results were conservative.

Niobium mineralisation extends into fresh rock and is present alongside the rare earths, adding further value to the project.

With Power controlling two permits covering the entire 17.05 square kilometre Santa Anna Carbonatite Complex, the company has secured a strong position over a prospective critical minerals system.

How reliable are the results from these re-assays?

The results are considered highly reliable and ALS Laboratories used sodium peroxide fusion and ICP-MS, which are recognised as comprehensive and accurate methods for rare earth and niobium analysis.

Verification measures included six certified standards and three drill samples from Santa Anna, with all outcomes falling within acceptable limits.

When compared with the earlier SGS results, rare earth values were closely aligned, showing only a 0.3 percent average variation, while niobium values were on average 12.9 percent higher.

This confirms that the SGS values were conservative and ensures the new dataset provides a dependable basis for future modelling.

Technical note for investors

It is important to understand that the initial SGS laboratory analysis was not incorrect but was limited by the method used at the time.

Certain samples contained rare earth concentrations much higher than anticipated, and because rare earths were not the focus of that earlier work, the assays reached the maximum detection limit of the method rather than recording the true grade.

As a result, some of the highest-grade samples only reported minimum values instead of the actual concentration.

The current re-assay program, using a more advanced method, has now provided complete and accurate results that reveal the true high-grade nature of the mineralisation.

 What are the next steps following these high-grade results?

Power Minerals has already advanced the next phase of activity at Santa Anna.

The maiden reverse circulation drilling program has been completed and follow-up drilling is underway to test shallow and deeper targets.

In parallel, leach testing has commenced to assess processing characteristics. As drilling progresses, results will be announced progressively to the market.

“With our maiden drilling program at Santa Anna complete and the follow-up drilling campaign ongoing, our confidence in the substantial Mineral Resource potential of the project continues to grow.”

“This is further enhanced by these very high grade REE results. Drilling continues at the Project and results will be progressively announced as they become available.”

Building momentum at Santa Anna

The re-assay program has confirmed the highest rare earth grades at Santa Anna and demonstrated the presence of both rare earth and niobium mineralisation across the project area.

With drilling continuing and metallurgical testing underway, Power Minerals is strongly positioned to advance Santa Anna as a project of scale in the critical minerals sector.

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