Power Minerals (ASX:PNN) drills deeper into Santa Anna with high grade niobium and rare earth results

Power Minerals has added another set of high grade niobium and rare earth intercepts to the growing data set at its Santa Anna Project in Brazil, with the latest auger drilling returning multiple near surface TREO and Nb2O5 intervals and reinforcing the scale of the weathered carbonatite system.

The new results come from the final six holes of a completed auger program and sit alongside the commencement of a 10,000m reverse circulation campaign designed to extend the mineralised footprint at depth and along strike.

Highlights

• Auger drilling returned intervals including 14m at 6,081 ppm TREO, including 3m at 15,436 ppm TREO, and 14.5m at 5,904 ppm TREO, including 2m at 12,003 ppm TREO
• Niobium intercepts include 13.5m at 3,529 ppm Nb2O5, including 4m at 4,942 ppm Nb2O5
• Drilling targeted REE rich phases within the upper 15m of the carbonatite complex on an 80m grid
• Majority of intercepts extend to end of hole, indicating mineralisation remains open at depth
• A 10,000m RC drilling program is underway to test niobium rich phases east and south east of earlier drilling
• SRK Consulting engaged to deliver a maiden Mineral Resource Estimate in the current quarter

The auger program was designed as a systematic shallow test of niobium and REE mineralisation within the top 15m of a highly weathered, clay rich profile above the underlying carbonatite.

Power Minerals completed 57 auger holes for a combined 781.0m, with one metre sampling intervals and weighted average grades reported over full intercept lengths, with no internal dilution applied.

Laboratory analysis was undertaken by SGS Geosol using lithium metaborate fusion and ICP methods for whole rock oxides and trace elements.

Results reported from holes MN TM 052 to MN TM 057 show TREO mineralisation commencing from surface, with several holes ending in mineralisation at end of hole.

The company states that cover is considered residual with minimal transported material, supporting the interpretation that mineralisation begins at surface across the targeted weathered zone.

Reported intervals include 8.5m at 6,900 ppm TREO and 17m at 2,451 ppm TREO, alongside multiple multi metre niobium zones above 3,000 ppm Nb2O5.

The Santa Anna Project is located in Goiás State and is wholly contained within two permits covering 1,705 hectares.

Power Minerals completed acquisition of 100% ownership of the alkaline carbonatite complex in December 2025.

The complex extends about 2.5km west to east and sits within the Goiás Alkaline Province, a region associated with late Cretaceous alkaline magmatism and carbonatite intrusions.

Management is positioning the shallow auger work as a feeder into deeper targeting, supported by new geophysics and broader step out drilling. Managing Director Mena Habib said

“These latest results, from the last six holes, in our shallow auger drilling program have delivered further exceptional results, consistent with previous results from the program. The latest results further solidify our confidence in the substantial resource potential within the shallow weathered zone.”

The current RC campaign, planned for up to 10,000m, is targeting deeper REE and niobium mineralisation and is guided by a recently completed drone aerial magnetic and digital elevation model survey flown at 50m line spacing.

Initial drilling of about 2,000m across about 40 holes is underway, with objectives including extension of the mineralised footprint and support for a maiden Mineral Resource Estimate.

From an industry standpoint, the sequence of shallow auger definition, grid based coverage, geophysical targeting and deeper RC follow up reflects a staged approach to delineating carbonatite hosted critical minerals systems.

With a maiden resource targeted in the current quarter and multiple drilling phases in progress, Santa Anna is moving from early stage drilling toward formal resource definition within the niobium and rare earth segment.