Power Minerals (ASX:PNN) reports 91m rare earth intersection at Morro do Ferro
Power Minerals has returned further rare earth drilling results at its Morro do Ferro Project in Brazil, where drillhole MFSR-055 intersected mineralisation from surface to at least 91m.
The hole was positioned southeast of the Base Section to assess continuity between section lines and help support calculation of a maiden JORC Mineral Resource estimate.
Highlights
MFSR-055 returned 91m at 7.7% total rare earth oxides, TREO, with 1.4% magnet rare earth oxides, MREO, from surface.
This included 62m at 11.1% TREO with 2.0% MREO from surface and 23.1m at 17.5% TREO with 3.2% MREO from 13m.
Sample MFP-497 returned 2m at 22.6% TREO with 4.32% MREO from 25m.
Drilling is ongoing, with results for the lower and upper portions of MFSR-055 and the lower portion of MFSR-054 pending.
The latest assays follow broad intersections from surface in all 6 drillholes reported to date, MFSR-051 to MFSR-056.
Power states that results received from MFSR-055 demonstrate continuous TREO mineralisation and corroborate the previously identified mineralisation depth on the southwestern flank of the deposit.
Reported intervals are weighted averages by distance, with depths and lengths measured downhole, and may not represent true thickness.
Sample MFP-497 recorded the project’s second highest individual sample TREO concentration, while MFP-494 delivered the third highest, returning 2m at 22.4% TREO with 4.6% MREO from 19m.
The highest grade sample remains a previously reported 2m interval at 24.13% TREO from 14m in drillhole MFSR-44.
Elsewhere in the programme, MFSR-054 returned 88m at 6.33% TREO with 1.19% MREO from surface, followed by 93m at 1.06% TREO from 88m.
A further interval returned 5m at 4.32% TREO with 1.13% MREO from 181m, including 2m at 7.85% TREO with 2.11% MREO from 184m.
Morro do Ferro is hosted within the Poços de Caldas alkaline intrusive complex, which has a mean diameter of 33km and covers approximately 800km².
Its local geology comprises hydrothermally altered country rocks beneath a deep weathering cover, with residual clay minerals intersected by veins and stockworks containing magnetite, goethite or combinations of these minerals.
Current geological analysis indicates a potential link between rare earth carbonate mineralisation and a hydrothermal system.
Further drilling and comprehensive geological analysis are planned to define its extent and geometry, while mineralogical and metallurgical studies are planned to maximise possible future rare earth oxide recovery and lower processing costs.
Power Minerals Chief executive Alistair Stephens outlined the access arrangements supporting the programme, saying,
“As harvesting of the eucalyptus plantation opens up further access, we are continuing drilling to better define the extent and depth of mineralisation.”
The announcement also confirmed that Power and Summit Explore Corporation, a wholly owned subsidiary of Summit Nanotech Corporation, have agreed not to proceed with their nonbinding joint venture for the Salta Lithium Project in Argentina.
Power terminated the arrangement and is assessing other development options.
Power’s stated strategy is to advance its South American critical minerals projects through exploration, resource definition, metallurgical testwork and development studies.
At Morro do Ferro, assays from remaining holes will be progressively submitted for laboratory analysis, with further results released as they become available.