Power Minerals Limited (ASX: PNN; OTCQB: PEIMF) has extended continuous rare earth mineralization from surface to 186 meters downhole at its Morro do Ferro project in Minas Gerais, Brazil.
New assays from hole MFSR-054 identified deeper mineralization below the high-grade near-surface interval announced Sept. 4. The deepest sample returned to date also revealed a new high-grade zone, while assays remain pending for the final 67.55 meters of the hole.
Three Mineralized Sections Reported
The upper portion of MFSR-054 returned 88 meters grading 6.33% total rare earth oxides from surface. That interval, previously reported Sept. 4, included 50 meters at 9% TREO and 20 meters at 12.05% TREO.
The latest results extended the assayed mineralization with 93 meters grading 1.06% TREO from 88 to 181 meters downhole.
That was followed by five meters grading 4.32% TREO from 181 meters, including the deepest assayed interval of two meters at 7.85% TREO from 184 meters.
Power said the hole remained mineralized at the current assay limit. MFSR-054 was drilled to a total depth of 253.55 meters, leaving results pending from 186 meters to the end of the hole.
Magnet Rare Earth Content Varies
The upper 88-meter interval contained 1.19% magnet rare earth oxides, while the 93-meter middle section averaged approximately 0.23% MREO.
The deeper five-meter interval returned 1.13% MREO, including two meters at 2.11% MREO.
Power defines MREO as the combined oxides of neodymium, praseodymium, terbium and dysprosium—the rare earths commonly used in permanent magnets. TREO includes those elements and the other measured rare earth oxides.
The distinction is important because a high TREO grade does not directly establish the quantity of saleable magnet rare earth products that could ultimately be recovered.
Drilling Continues Ahead of Maiden Resource
MFSR-054 was drilled northeast of the deposit’s interpreted center to test its geometry and depth. Power said it extended mineralization farther down the northeastern side of the system than previous drilling.
The boundary remains undefined, and further drilling and geological interpretation will be needed to establish the system’s geometry and continuity.
Power has completed 11 holes during a planned program of approximately 25 holes and 4,000 meters. Two drill rigs remain active, with additional assays expected in batches.
The company is also planning dedicated metallurgical sampling and preparing a maiden Mineral Resource estimate for Morro do Ferro.
Technical and Economic Questions Remain
Reported intervals are weighted averages calculated without upper or lower grade cutoffs. They represent downhole lengths and may not reflect true thickness.
Morro do Ferro does not currently have a Mineral Resource or Mineral Reserve. Metallurgical testing has not yet established recoveries, concentrate specifications, processing costs or the potential economics of extracting the reported rare earths.
The drilling results therefore provide exploration information but do not demonstrate that an economically viable mine can be developed.
Sources
- Power Minerals Extends Rare Earth Mineralization to Record Depth at Morro do Ferro
- Power Minerals — Morro do Ferro Rare Earth Project
- Power Minerals Begins Morro do Ferro Drilling Program
Editorial Disclosure
This article was prepared from publicly available company disclosures and related public sources. Mining Markets Report received no compensation from Power Minerals Limited for its preparation or publication and has no disclosed business relationship with the company.
The author and publisher do not hold securities in Power Minerals Limited. The reported exploration results and technical interpretations were supplied by the company and have not been independently verified by Mining Markets Report.
Reported intervals are downhole lengths and may not represent true thickness. TREO and MREO grades do not establish metallurgical recoveries, saleable product quantities or economic viability. Morro do Ferro does not currently have a Mineral Resource or Mineral Reserve.
Statements concerning pending assays, additional drilling, metallurgical testing and preparation of a maiden Mineral Resource estimate are forward-looking and remain subject to geological, technical, regulatory, financing and market risks.
This article is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell securities. Exploration-stage mining investments can be highly speculative. Readers should conduct their own due diligence and consult a qualified financial professional. Read the full Mining Markets Report disclaimer.
