Power Minerals (ASX:PNN) advances Santa Anna niobium and rare earths with consistent high-grade near-surface results

Power Minerals has reported a further set of high-grade niobium and rare earth element results from its ongoing auger drilling program at the Santa Anna Alkaline Carbonatite Complex in Brazil, continuing a sequence of shallow, continuous mineralised intercepts that underline the scale and continuity of the weathered zone across the project.

The latest assays, drawn from holes 26 to 51 of a planned 1,000 m program, reinforce the geological model of a broad, near-surface REE and niobium system and form part of the technical foundation for the company’s stated aim of delivering a first Mineral Resource Estimate in Q1 2026.

Highlights

• Multiple high-grade total rare earth oxide intersections over a combined sampled interval of 356.75 m, including 15 m at 6,818 ppm TREO from surface to end of hole in MN-TM-032, with 2 m at 11,686 ppm and 1.17% TREO from 3 m, and 16.5 m at 4,848 ppm TREO from surface to end of hole in MN-TM-042, including 1 m at 16,008 ppm or 1.60% TREO from 6 m.

• Consistent broad zones of mineralisation, such as 15.5 m at 6,754 ppm TREO from surface to end of hole in MN-TM-033, including 12 m at 7,346 ppm from 2 m.

• Significant near-surface niobium oxide results, including 15 m at 2,852 ppm Nb2O5 from surface to end of hole in MN-TM-033, with 8 m at 3,662 ppm from 6 m.

• Mineralisation commencing at surface within a highly weathered residual clay zone, with many intersections remaining open at end of hole.

• A planned reverse circulation drilling program of up to 10,000 m, supported by a completed drone magnetic and digital elevation survey, to test depth extensions and untested areas and support a maiden Mineral Resource Estimate targeted for Q1 2026.

The auger program is designed to systematically map REE and niobium-rich phases in the upper 15 m of the Santa Anna complex on an approximately 80 m grid, building on the earlier 29-hole, 2,272 m RC campaign.

Drilling has targeted shallow, clay-rich horizons developed above the carbonatite, with the reported intersections representing weighted averages across continuous intervals and containing no internal dilution.

The company has noted that the cover sequence is residual and contains minimal transported material, a factor that supports geological continuity and the delineation of a coherent near-surface mineralised domain.

Santa Anna is a large alkaline carbonatite complex in Goiás State, extending for approximately 2.5 km from west to east, and is held 100% by Power Minerals following completion of its acquisition in December 2025.

Carbonatite systems are globally recognised as primary hosts for both niobium and rare earths, and the combination of wide, near-surface mineralised intervals and systematic grid-based drilling is being used to define the lateral extent of the weathered zone while also guiding follow-up at depth.

Managing Director Mena Habib said that

“the consistent, high-grade results from our ongoing auger drilling at Santa Anna validate and enhance our exploration model, and also build confidence in the significant Resource potential of the shallow, weathered zone,”

adding that the company is preparing to commence a substantial RC program of up to 10,000 m, with an initial phase of around 2,000 m scheduled to start shortly and further drilling and assay results to follow over the coming months.

The next stage of work will integrate the auger and RC results with the recently completed drone-supported magnetic and digital elevation survey, which is intended to prioritise targets associated with magnetite-rich carbonatite phases and to assess the lateral and depth extent of the mineralised system.

In parallel, the company plans detailed mineralogical studies to determine the host minerals for niobium and the rare earth suite, work that is expected to feed into future metallurgical programs and plant design considerations.

Within the broader critical minerals landscape, the Santa Anna program represents a methodical progression from surface definition to depth testing in a large, wholly owned carbonatite complex.

The transition from closely spaced auger drilling to a deeper RC campaign, supported by geophysics and mineralogical studies, is intended to provide the data density and geological understanding required to support an initial Mineral Resource Estimate and to place the project in the context of established niobium and rare earth development pathways.