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Power Minerals Limited (ASX:PNN)

ALERT: Price-sensitive ASX Announcement for PNN
Current share price for PNN : $0.145 0.02 (16%)+
Announcement
Release
11 May 2026 8:22AM
Price at Release
$0.125
Full Release
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Summary
Power Minerals Limited (ASX: PNN | OTCQB: PEIMF) will begin its maiden diamond drilling campaign at the high-grade Morro do Ferro Rare Earths Project (MDF Project) in Minas Gerais, Brazil. The project is strategically located within the Poços de Caldas alkaline complex, a global rare-earth hub. Following a successful acquisition, the company plans to conduct 3,800 meters of diamond core drilling to explore and expand existing mineralization. The drilling is expected to start in May 2026 and last approximately three months, with results released progressively. The campaign focuses on enhancing the mineralogical understanding and enabling a swift progression towards a maiden Mineral Resource Estimate. The project benefits from a 'Manifesto de Mina' mining license, streamlining exploration activities.
Key Points
  • Power Minerals to commence maiden drilling at Morro do Ferro Project.
  • The project is located in Minas Gerais, Brazil, within the Poços de Caldas alkaline complex.
  • Drilling campaign includes 3,800 meters of diamond core drilling.
  • Project acquisition completed last month.
  • Drilling results to be released progressively, with initial results expected in June 2026.
  • The project is under a 'Manifesto de Mina' license, simplifying exploration.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.