Power Minerals (ASX:PNN) reports rare earth results from Morro do Ferro
Power Minerals has reported results from MFSR-053, the 3rd hole in its ongoing maiden drilling campaign at the Morro do Ferro Rare Earth Project in southern Minas Gerais, Brazil.
The results cover the upper portion of the hole, while assays from the remaining samples below 135m are pending.
Highlights
MFSR-053 returned 108.55m at 4.15% TREO with 8,163ppm MREO from surface to 119.3m.
The result included 29.25m at 9.01% TREO with 13,151ppm, or 1.32%, MREO from surface to 35m.
A 6.45m interval from 69.55m returned 9.34% TREO with 28,699ppm, or 2.87%, MREO.
A 1.45m sample from 69.55m returned 4.40% MREO, the highest MREO sample recorded at Morro do Ferro.
Results received from below 135m included 3 separate intervals of rare earth mineralisation.
MFSR-053 was drilled vertically below the previous angled drillhole, MFSR-052, and reached an end of hole depth of 209.55m.
Its collar was positioned to facilitate the collection of samples for mineralogical studies before the commencement of the metallurgical drillholes.
The reported 108.55m intersection excludes 2 magnetite rich zones totalling 10.75m downhole, identified through geological logging and supported by iron content in the drill core analyses, with magnetite veins and stockwork recorded from 18m to 23.73m and 35m to 40m and excluded due to low rare earth element concentrations.
Within the 6.45m interval, results included 20,973ppm neodymium oxide, 6,511ppm praseodymium oxide, 1,011ppm dysprosium oxide and 204ppm terbium oxide.
The interval also returned 5,047ppm yttrium oxide, 1,989ppm gadolinium oxide, 360ppm erbium oxide and 151ppm holmium oxide.
The highest TREO concentration identified in MFSR-053 was 17.98% over 2m from a depth of 12m, while Power also reported 2m at 24.13% TREO from sample 1156 in MFSR-44 at Morro do Ferro, previously announced on 5 March 2026.
Power Minerals Chief Executive Officer Alistair Stephens said:
“While considerable work remains, including the remaining assays, mineralogical studies, metallurgical test work and resource definition, we believe Morro do Ferro is emerging as an increasingly compelling rare-earth project. We intend to advance it methodically, responsibly and with strong technical discipline.”
The deeper results from MFSR-053 comprised 2m at 5,955ppm TREO from 183m, 1.6m at 8,364ppm TREO from 191.5m and 2m at 4,563ppm TREO from 201m.
The remaining samples below 135m have been dispatched to the laboratory, with results to be announced when received.
MFSR-053 also returned 2m at 124.5ppm gallium from 62m in sample MFP-0299, compared with the previously reported result of 2m at 87.7ppm gallium from 83m in MFSR-052, while a laboratory duplicate analysis of MFP-0299 returned 122.6ppm gallium.
Power stated that accurate gallium results from the laboratory had been postponed because of interference associated with the high rare earth element concentrations.
Discussions are being held with the commercial laboratory regarding the best method for obtaining accurate and reliable gallium analyses under these conditions.
Morro do Ferro is hosted within the Poços de Caldas alkaline intrusion, a circular complex with a mean diameter of 33km and an area of approximately 800km², comprising alkaline volcanic and plutonic rocks, mainly phonolites and nepheline syenites.
The local geology is characterised by hydrothermally altered country rocks known as potassic rocks, which are overlain by a deep weathering cover.
Residual clay minerals are cross cut by discrete veins and stockworks containing magnetite, goethite or a combination of the 2.
The announcement states that rare earth mineralisation is related to the cryptocrystalline minerals bastnasite and cerianite, with minor monazite also reported.
The project is contained within the 300.72 hectare mining title ANM 005.444/1946, currently held by Mineracao Terras Raras SA.
Power has entered into a binding agreement to acquire Morro do Ferro, subject to the successful completion of due diligence and certain exploration milestones.
The site is approximately 13km southeast of Poços de Caldas and approximately 200km north of São Paulo, with Power stating that the permit is in good standing with the appropriate government authorities and that it is not aware of any impediments that would hinder the transfer process.
Power has completed 11 holes, with 16 sample batches awaiting analysis, while drilling continues as part of the current program of approximately 25 holes for approximately 4,000m using 2 rigs.
Activities identified in the announcement include pending assay results, dedicated sampling for metallurgical test work, mineralogical studies, continued drilling, resource definition work and discussions with the laboratory regarding the gallium analytical method.