Power Minerals (ASX:PNN) reports Morro do Ferro drilling results
Power Minerals has reported assay results from MFSR 052, the 2nd drillhole in its maiden diamond drilling program at the Morro do Ferro Rare Earth Project in southern Minas Gerais, Brazil.
Highlights
MFSR 052 intersected 137m at 4.31% TREO and 0.73% MREO from surface.
Results included 53m at 9.87% TREO and 1.69% MREO from surface.
A 26.9m interval from 19m returned 13.0% TREO and 2.40% MREO.
A 2m sample from 39m returned 19.51% TREO and 3.96% MREO, the highest MREO sample recorded at Morro do Ferro.
A 2m interval from 83m returned 87.7 ppm gallium, the highest reliable gallium result recorded at the project.
2 drill rigs are operating in a program comprising approximately 25 holes for approximately 4,000m.
The full MFSR 052 intersection contained 43,125 ppm TREO and 7,337 ppm MREO, while the interval from surface to 105m returned 5.45% TREO and 0.93% MREO.
Within the 53m surface intersection, the interval from 19m to 45.9m contained 130,427 ppm TREO and 24,034 ppm MREO, which Power described as the highest grade wide intersection recorded at the project to date.
The constituent magnet rare earth oxides across the 26.9m interval included 1.66% neodymium oxide, 0.67% praseodymium oxide, 0.06% dysprosium oxide and 0.01% terbium oxide.
Gadolinium oxide accounted for a further 0.09%, with erbium oxide at 0.02% and holmium oxide at 0.01%.
Power defines MREO as the combined oxides of neodymium, praseodymium, terbium and dysprosium.
Given the concentrations recorded at Morro do Ferro, the results are presented as a percentage of whole rock.
The announcement states that MREO is commonly reported as a percentage of TREO because absolute concentrations are typically lower in most deposits.
The peak result was recorded in sample MFP 0178, while the best individual historical result at Morro do Ferro remains 2m at 24.13% TREO from sample 1156 in MFSR 44, as previously reported by the company.
MFSR 052 was collared 31.5m from MFSR 051 on the same section, where MFSR 051 returned 116m at 4.78% TREO from surface, including 31m at 10.0% TREO and 1.58% MREO from 14m, with a peak 2m sample containing 18.12% TREO and 3.66% MREO.
Power reported that the approximately 10% TREO core widened from 31m in MFSR 051 to 53m in MFSR 052, with mineralisation remaining open.
Reported intervals are downhole widths and weighted averages of all samples across the stated lengths, with no cut offs unless specified, and may not represent true thickness.
Power Minerals Chief Executive Officer Alistair Stephens said:
“Although our drilling programme remains in its early stages and further technical work is required, these results reinforce the project’s potential to emerge as a rare-earth asset of international significance.”
The HQ diamond core drilling program commenced on 15 June 2026. MFSR 052 reached a total downhole depth of 173.3m and was angled at -60°.
A total of 87 half core samples, excluding quality control samples, were analysed by the independent SGS Geosol laboratory in Brazil using methods ICP95A and IMS95A.
The 2 laboratory batches included certified reference materials, 4 blanks and 8 blind duplicate samples, representing 1 quality control sample for every 5.2 drillhole samples, or 19%.
SGS Geosol also completed 6 laboratory repeats, with Power reporting that all quality control results were within acceptable limits.
The drilling program remains ongoing with 2 rigs and 2 additional shifts that commenced on 4 August 2026.
Assays from MFSR 053 onwards are pending, while dedicated core sampling for metallurgical test work is planned within the program.
Field and downhole data verification is continuing, while discussions are being held with the commercial laboratory regarding an analytical method for gallium in the presence of high rare earth concentrations, with further assay results to be released as they are received.