Power Minerals Targets 9.2-10.7Mt at 7.8-9.2% TREO

Power Minerals (ASX:PNN) has established a maiden Exploration Target for its Morro do Ferro Rare Earths Project in Brazil, estimating 9.2 to 10.7 million tonnes of ore at 7.8 to 9.2% total rare earth oxides. The deposit contains an estimated 1.3 to 1.6% magnet rare earth oxides, with 5.2 to 6.4 million tonnes of the total tonnage directly supported by existing drill data.

The remaining 3.9 to 4.4 million tonnes represent a conceptual projection into undrilled tenure, primarily within the southern lobe of the project. The company notes that the quantity and grade are conceptual due to insufficient exploration for a full mineral resource estimate, according to reporting from Mining.com.au.

Drilling Data Underpins Model

The geological model integrates 169 historic and current drill holes, totaling 3,241 assays over 5,696 meters, alongside drone LiDAR and geophysical datasets. At a 5% TREO cut-off, drilling has returned 697.7 meters at 8.3% TREO and 1.436% MREO across 56 intercepts in 31 holes.

Both the northern and southern lobes exhibit comparable grades, with 8.29% and 8.37% TREO respectively. UAV-integrated geophysical surveys over approximately 8 square kilometers support the interpreted mineralized trend, which aligns with a 900 by 700-meter magnetic anomaly formed by magnetite bodies.

Forward Drilling Program Planned

Power Minerals is currently progressing a maiden diamond drilling program comprising 25 HQ core holes totaling approximately 4,000 meters. The campaign is expected to conclude in eight weeks at an estimated cost of $2.8 million, funded entirely from the company's existing cash reserves.

Nine diamond holes totaling 1,158 meters within the modelled area remain unassayed and are excluded from the current target. The company cautions that results from these holes may materially affect the reported tonnage and grade, potentially altering the scope of the deposit.

Licensing and Resource Timeline

The company recently secured priority-project treatment with the Government of Minas Gerais, streamlining environmental licensing through the state's specialized pathway. Morro do Ferro is located within mining title ANM 005.444/1946, covering about 300.72 hectares southeast of Poços de Caldas.

Subject to the results of the current drilling campaign, Power Minerals will assess whether the expanded dataset supports a maiden mineral resource estimate. This decision is targeted for the December quarter of 2026 or the March quarter of 2027, depending on data density.