Power Minerals Limited (ASX:PNN) Santa Anna acquisition positions company for major carbonatite push in Brazil

Power Minerals Limited has delivered a decisive step in its South American growth strategy with the completion of its acquisition of the Santa Anna Niobium REE Gallium Carbonatite Project in Goiás State, Brazil.

The deal hands the company full ownership of a large alkaline carbonatite complex discovered in 2021, adding a high grade niobium and rare earths opportunity to its growing portfolio of critical minerals assets.

Highlights

• Acquisition of the Santa Anna Niobium REE Gallium Project in Brazil is now complete.

• Power secures 100 percent ownership of the 2.5 kilometre wide Alkaline Carbonatite Complex.

• Highest grades identified to date include 33,600ppm Nb2O5 and 62,000ppm TREO.

• A major RC campaign of up to 10,000 metres will be undertaken with an initial 2,000 metre program commencing next month.

• The project contains 192 drillholes for 5,377 metres, 196 surface geochemical samples and extensive trenching data.

• Strategic partnership in place with EDEM, the experienced Brazilian miner and project vendor.

• Acquisition funded by A$500,000 cash and A$1,000,000 in shares, with a tiered milestone payment structure.

The acquisition provides Power with 100 percent control of the Santa Anna Alkaline Complex which spans approximately 2.5 kilometres from west to east.

According to the release, projects of this type are described as “highly sought-after worldwide” with the company viewing the asset as a rare opportunity to explore and develop a large scale carbonatite field.

The project was initially secured through an exclusive option in April 2025 before due diligence drilling confirmed broad zones of niobium and high grade rare earth mineralisation at surface and depth.

The existing dataset is substantial for an early stage opportunity, with Santa Anna containing 192 shallow drillholes for 5,377 metres, 196 geochemical samples and extensive trenching, although all historical work focused on phosphate rather than critical minerals.

Large parts of the intrusion remain untested, supporting Power’s view that the project has room for meaningful expansion.

The company completed a 29 hole 2,272 metre reverse circulation program during due diligence, which “intersected broad zones of niobium and high grade REE” and confirmed mineralisation in both weathered and fresh rock zones.

Nearly 90 percent of the surface area of the Alkaline Complex remains untested, and a shallow auger program is under way to define further target areas.

The strategic partnership with EDEM, the Brazilian miner and project vendor, is expected to provide local support, infrastructure access and operational experience.

As outlined, Power Minerals will focus on exploring and developing the project’s critical minerals while EDEM will continue its phosphate activities.

In summarising the significance of the step, Managing Director Mena Habib said,

“We are delighted to complete the acquisition of the Santa Anna Project… With the acquisition now complete, we will embark on a major RC drilling campaign of up to 10,000m, designed to deliver a maiden Mineral Resource Estimate at the Project.”

The next phase of work is clear, with Power intending to commence a 10,000 metre RC drilling program and the first 2,000 metres scheduled to begin next month, designed to underpin a maiden Mineral Resource Estimate targeted for the first quarter of calendar year 2026, subject to results.

The company’s decision not to proceed with the previously announced option to acquire the Gamma Heavy Rare Earth Project in California tightens the strategic focus around Santa Anna and its lithium assets in Argentina.

As outlined, Power will continue assessing opportunities in the critical minerals sector while advancing Santa Anna as its key Brazilian asset.