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Power Minerals Limited (ASX:PNN)

ALERT: Price-sensitive ASX Announcement for PNN
Current share price for PNN : $0.120 -0.005 (-4%)+
Announcement
Release
15 Jun 2026 8:31AM
Price at Release
$0.125
Full Release
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Summary
Power Minerals Limited has announced the commencement of its maiden diamond drilling campaign at the Morro do Ferro Rare Earths Project in Minas Gerais, Brazil. The campaign aims to explore high-grade rare earth mineralisation and includes 4000 metres of core drilling and 800 metres for metallurgical purposes. The project is part of the Poços de Caldas complex, a significant emerging rare-earth hub. The drilling is expected to be completed in the next quarter with initial results in 3-4 weeks post-sampling. Power Minerals aims to establish Morro do Ferro as a significant source for rare-earth elements crucial for technology sectors.
Key Points
  • Power Minerals commences maiden drilling at Morro do Ferro REE Project, Brazil.
  • 4000 metres of diamond core drilling to target high-grade MREO and TREO mineralisation.
  • 800 metres of larger diameter drilling for metallurgical test work.
  • Drilling to complete in the following quarter with results expected 3-4 weeks post-sampling.
  • Morro do Ferro positioned as a significant rare-earth hub within the Poços de Caldas alkaline complex.
  • Rapid mobilisation and start of drilling within seven weeks of project acquisition.
  • Potential to become a major source of magnet rare-earth elements for future technologies.
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.