Power Minerals (ASX:PNN) reports deeper rare earth results at Morro do Ferro
Power Minerals has reported final assay results from drillhole MFSR-054 at its Morro do Ferro Project in Brazil, confirming rare earth mineralisation to 190m downhole and an additional mineralised zone ending at 242m.
The deeper sample results were not included in the company’s Base Section Exploration Target model published on 22 September 2026.
Highlights
Drilling returned 88m at 6.33% total rare earth oxides, TREO, with 1.19% magnet rare earth oxides, MREO, from surface, including 50m at 9.0% TREO with 1.56% MREO.
A separate interval returned 19.8m at 1.38% TREO with 0.23% MREO from 222.2m, including 2m at 6.88% TREO with 1.07% MREO from 240m.
A passive seismic survey has commenced, while assays remain pending from further drilling.
The analyses cover the entirety of MFSR-054, from surface to a depth of 253.55m.
Below the initial surface interval, results included 93m at 1.06% TREO with 0.23% MREO from 88m, followed by 9m at 2.78% TREO with 0.72% MREO from 181m.
The reported grades are whole rock results, and interval lengths are downhole measurements that may not represent true widths.
MFSR-054 was located along the Base Section and drilled towards the northeast to provide control on the mineralisation model.
Other holes in the ongoing campaign have been drilled towards the southwest at a dip of 60 degrees, with the different orientation of MFSR-054 providing a test of the deposit’s geometry.
Power Minerals Chief executive Alistair Stephens said,
“Importantly, this result adds to our understanding of mineralisation deeper to the northeast and provides further data for the upcoming maiden Mineral Resource estimate.”
Between the 2 high grade zones, Power reported 32.2m at 0.45% TREO from 190m, including a sample returning 2m at 1.12% TREO from 209m.
Sampling results also showed rare earth oxide mineralisation across possible visual lithological boundaries in the core, where the material is described as soft and fine grained.
The company’s preliminary geological assessments suggest the deeper zones may relate to conduits for rare earth bearing mineralisation fluids within the interpreted hydrothermal system.
Power plans further drilling along strike following geological, mineralogical and geophysical analyses to delineate their extent and geometry, while 2 completed holes have tested the area above the intersected zones.
The passive seismic survey uses 2 company owned Tromino BLU seismograph units to detect and measure ambient seismic noise, enabling the mapping of subsurface layers.
It commenced after discovery of the initial deep zone in MFSR-054, with the company seeking information to assist future drilling because the orientation of the deep targets remains unknown.
Power’s earlier drone radiometric and magnetometer survey provided exploration targets, although near surface magnetite debris within the soil cover hindered those methods.
Drilling is progressing across and along strike from the central Base Section.
Morro do Ferro forms part of Power’s South American portfolio alongside the Salta Lithium Project in Argentina.
At the Brazilian project, the disclosed programme includes continuing drilling, progressive release of outstanding assays and metallurgical testwork to assess magnet rare earth recovery, alongside the geological work supporting resource definition.