Power Minerals (ASX:PNN) reports 119m rare earth intersection at Morro do Ferro
Power Minerals has reported additional rare earth assays from its Morro do Ferro Project in Brazil, with drillhole MFSR-056 returning 119m at 4.94% total rare earth oxides, or TREO, from surface.
The results come from a section line 57m northwest of the original drilling baseline, where the hole was positioned to assess the extension of mineralisation beyond the earlier section.
Highlights
The 119m intersection contains 0.89% magnet rare earth oxides, or MREO, in whole rock.
Included intervals comprise 98m at 5.09% TREO with 0.89% MREO from surface, including 10m at 12.31% TREO with 1.88% MREO from 41m.
The boundary of mineralisation remains undefined, with further drillhole assays pending.
The latest analyses follow the initial results for 20 samples from MFSR-056 released on 29 September 2026, extending the reported interval to surface above the previously released assays.
Results received to date demonstrate continuous TREO mineralisation from surface to at least 119m downhole, while the company states that the findings corroborate the previously identified mineralisation depth on the northeastern flank of the deposit.
Within the deeper portion of the intersection, the hole returned 6m at 8.91% TREO with 1.89% MREO from 92m, including 2m at 11.05% TREO with 2.27% MREO from 96m.
MFSR-056 represents the initial findings from the next drilling section, which sits northwest of, and at a higher elevation than, the original baseline.
The company’s cross section shows the high grade TREO mineralisation extending lower than in the earlier drillholes, although results are not yet available for all upper and lower portions of MFSR-056.
Power’s initial geological evaluations indicate a potential link between rare earth carbonate mineralisation and a hydrothermal system, with further drilling and comprehensive geological analyses required to define its extent and geometry.
The hole also intersected a 4.4m downhole magnetite dyke from 59.5m, which returned a weighted average of 2,825ppm TREO.
Previously released results from MFSR-054, located along the baseline section, include 88m at 6.33% TREO with 1.19% MREO from surface, followed by 93m at 1.06% TREO from 88m.
A further 5m interval from 181m returned 4.32% TREO with 1.13% MREO, including 2m at 7.85% TREO with 2.11% MREO from 184m, while assays for the remainder of that hole remain outstanding.
Power Minerals Chief Executive Officer Alistair Stephens said,
“With mineralisation remaining open and further assay results pending, our focus is now on systematically defining its geometry and extent, while advancing metallurgical testwork and the work required for our maiden Mineral Resource estimate.”
The reported intervals are weighted averages by distance across the full sample lengths, applying no upper or lower cutoffs unless specified, and the downhole distances may not represent true thickness.
Morro do Ferro forms part of Power’s South American exploration and development portfolio alongside the Salta Lithium Project in Argentina.
The company’s stated strategy encompasses exploration, resource definition, metallurgical testwork and development studies, with the objective of establishing commercially viable sources of critical minerals for global supply chains.
At Morro do Ferro, drilling is progressing across and along strike from the central baseline location, with outstanding assays to be released progressively as they become available.