Power Minerals (ASX:PNN) confirms high-grade niobium and rare earth extensions at Santa Anna Project

Power Minerals Limited (ASX:PNN) has announced further high-grade niobium and rare earth element intersections from its second phase auger drilling at the Santa Anna Project in Brazil.

The results include assays of up to 1.50% Nb2O5 and 1.37% TREO, confirming and extending mineralisation into previously untested zones and building confidence in the company’s near-term objective of defining an exploration target and a maiden mineral resource estimate.

Managing Director Mena Habib addressed five key questions to provide investors with insight into the significance of these results and the next steps for Santa Anna.

How do these latest drilling results compare with your maiden drill program at Santa Anna?

The maiden drill program at Santa Anna established broad zones of niobium and rare earth mineralisation that confirmed the project’s early potential.

The second phase auger drilling has continued to reinforce that model, delivering even higher grades in some cases, including results of up to 14,975 ppm or 1.50% Nb2O5 and up to 13,700 ppm or 1.37% TREO.

“These intersections were recorded across several holes and, importantly, some of the highest grades were encountered at the end of hole, demonstrating that mineralisation remained open when drilling ceased.”

This continuation of mineralisation beyond the limits of shallow drilling underscores the strength of the geological system and validates the company’s approach to exploration at Santa Anna.

What does the presence of high-grade niobium and rare earths at shallow depths mean for the project?

The auger program has shown that mineralisation is consistently present at, or close to surface, with results such as 13 metres at 7,882 ppm TREO from surface, 9m at 5,317 ppm Nb2O5 from surface to EOH, and 12 metres at 2,342 ppm Nb2O5, also from surface to end of hole.

“These shallow intercepts demonstrate that mineralisation is widespread across the weathered zone of the alkaline complex.”

Testing is underway to determine whether ionic clay-hosted rare earths are present in this shallow weathered zone, using standard AMSUL wash conditions to assess recovery rates.

Identifying mineralisation at shallow levels across multiple holes strengthens the geological model and provides important data that will be applied in the ongoing assessment of Santa Anna.

How significant is the potential footprint extension you are targeting with this phase of drilling?

The current program has been designed on a grid-based approach to expand the mineralised footprint east and south-east of the maiden drilling, areas that had not previously been tested.

The first three auger holes confirm this extension, with results including 2 metres at 13,375 ppm Nb2O5 and 9 metres at 5,523 ppm TREO from the same auger hole.

“By applying a grid-based approach, we can better understand grade distribution and build the framework required to progress from exploration drilling to defining an exploration target.”

The 1,000 metres of auger drilling across around 60 holes is generating a dataset that will form the basis for refining the mineralisation model and moving toward the definition of an exploration target, which is a necessary step before a maiden mineral resource estimate.

What are the next steps following this auger program?

The auger program is scheduled for completion in September 2025, after which results will be integrated into the company’s model and used to guide deeper drilling.

Several auger holes have demonstrated that mineralisation was still present at the end of hole, including MN-TM-02, which ended with 14,711 ppm Nb2O5, and MN-TM-01, which ended with 10,164 ppm TREO.

“Reverse circulation drilling will enable us to assess the fresh rock beneath these the weathered zone in the new areas and confirm whether the high grades seen in shallow auger holes continue at depth as it in the first stage RC drilling.”

This transition to reverse circulation drilling will be crucial to testing continuity of mineralisation in the fresh rock below the weathered zone and advancing towards the definition of an exploration target and maiden resource.

How do these results position Power Minerals within the broader critical minerals market?

Santa Anna is emerging as a high-grade niobium carbonatite system that is also strongly mineralised in rare earths, gallium, and phosphate, covering a 17.05 square kilometre permit.

With reported previous drilling sample grades of up to 33,578 ppm or 3.36% Nb2O5 and 35,473 ppm TREO, with magnet rare earths making up nearly 30% of some TREO’s, highlight the quality of the mineralisation.

These outcomes confirm the project’s significance as a source of critical minerals, which are increasingly important in advanced technologies, clean energy systems, and defence applications.

With due diligence complete and the binding option to acquire Santa Anna exercised, Power Minerals has consolidated ownership of the project and is positioned to continue advancing it as a strategically important asset within the critical minerals sector.

Building Santa Anna’s growth path

The second phase auger drilling program at Santa Anna has delivered consistent and high-grade results that extend the mineralised footprint and confirm continuity of niobium and rare earth mineralisation in new areas.

The program is on track to conclude in September, with reverse circulation drilling set to follow in order to test deeper targets and expand the geological model.

As Managing Director Mena Habib explained, these results provide strong validation of the company’s exploration strategy and establish Santa Anna as a project with clear potential to play a role in the global supply of critical minerals.

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