Power Minerals (ASX:PNN) reports high grade rare earth results from Morro do Ferro drilling
Power Minerals has reported high grade magnet rare earth oxide (MREO) and total rare earth oxide (TREO) results from the first drill hole of its maiden drilling programme at the Morro do Ferro Rare Earth Project in southern Minas Gerais state, Brazil.
The first drill hole, MFSR-051, intersected high grade rare earth mineralisation from surface, with drilling extending high grade rare earth mineralisation from the previous known 71m to 116m downhole.
Highlights
MFSR-051 intersected 116m at 4.78% TREO from surface, including 31m at 10.0% TREO and 1.58% MREO from 14m.
The drill hole returned MREO values of up to 3.36% and TREO values of up to 18.12%.
Individual drill core results returned up to 181kg/tonne or 18.12% TREO, including 36.6kg/tonne or 3.66% MREO over 2m from 37m.
Average grades over 31m from 14m included 4,079ppm Pr6O11, 11,228ppm Nd2O3, 432ppm Dy2O3 and 79ppm Tb4O7.
MFSR-051 also intersected high grade gallium mineralisation to end of hole.
The results are from Power Minerals’ maiden drilling programme at Morro do Ferro, which is planned to consist of approximately 25 drill holes for around 4,000m of diamond core drilling to target depth and expansion of existing high grade mineralisation.
The programme also includes 800m of larger diameter PQ diamond core drilling to provide samples for metallurgical testwork, with drilling currently ongoing.
MFSR-051 returned TREO and MREO intersections including 78m at 6.85% TREO including 1.11% MREO from surface, 58m at 8.36% TREO including 1.32% MREO from surface, and 31m at 10.0% TREO including 1.58% MREO from 14m.
Individual maximum magnet rare earth element results over 2m sample intervals included 1.0% Pr6O11, 2.55% Nd2O3, 986ppm Dy2O3 and 196ppm Tb4O7.
The announcement states that the high grade values were reported from 2m of half core samples and were not spot grab samples.
All intercepts were measured downhole and reported with no minimum or maximum cuts applied.
Initial mineralogical work identified characteristics that may support development of a magnet rare earth product focused on rare earth elements used in permanent magnets.
The mineral studies indicate that bastnäsite rich mineralisation hosts the majority of the high-value magnet rare-earth elements within the Morro do Ferro deposit.
The company stated that approximately 40% of the non-cerium rare earth inventory comprises the magnet rare earth elements Nd, Pr, Dy, Tb and Ho.
The results from MFSR-051 will be integrated with the existing database for use in a planned maiden Mineral Resource Estimate, which Power Minerals anticipates delivering before the end of the year.
Drillhole MFSR-051 recorded 96.2% core recovery over 210.9m, with downhole survey data confirming completed drill holes remain within planned tolerances.
Alongside the rare earth results, Power Minerals reported gallium results from MFSR-051, with 13 separate analyses returning an average concentration of 51.7ppm and a maximum of 62.4ppm between 122m and the end of hole at 210.9m.
The company plans to conduct further analyses of the gallium results.
Power Minerals Chief Executive Officer Alistair Stephens said:
“We are delighted to announce the initial results from our first drilling program at the Morro do Ferro Project. The first hole from the program has delivered standout results including a remarkable 1.0% for Pr6O11, 2.55% for Nd2O3, 986ppm for Dy2O3, and 196ppm for Tb4O7, all reported over 2-metre sample intervals.”
Power Minerals is continuing drilling at Morro do Ferro, with the company checking and verifying field measurements and downhole data while drilling progresses.
Laboratory geochemical assay results will be released as they become available, with a second drill rig having arrived on site and drilling expected to continue through to December 2026 if required.
The company’s ongoing drilling programme will provide further results as laboratory geochemical assays become available.