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Power Minerals Limited (ASX:PNN)

ALERT: Price-sensitive ASX Announcement for PNN
Current share price for PNN : $0.160 0.055 (52.38%)+
Announcement
Release
31 Jul 2026 9:10AM
Price at Release
$0.105
Full Release
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Summary
Power Minerals Limited has announced exceptional high-grade results from its maiden drilling program at the Morro do Ferro Project in Brazil. The first drill hole, MFSR-051, intersected 116 meters of rare earth oxides with significant concentrations of both TREO and MREO. The results highlight values of up to 18.12% TREO and 3.36% MREO. This drilling extends known mineralisation significantly, with additional findings of critical minerals like gallium enhancing the project's economic potential. The drilling program aims to include 25 drillholes totaling around 4,000 meters to further explore and expand the existing high-grade mineralisation. Power Minerals Limited is positioning itself as a key player in the rare earth and critical mineral markets.
Key Points
  • First drill hole MFSR-051 intersects 116m at 4.78% TREO from surface, including 31m at 10.0% TREO and 1.58% MREO from 14m.
  • Outstanding MREO of up to 3.36% and TREO of up to 18.12% results in the first hole (MFSR-051) in Power’s maiden drilling program at Morro do Ferro Project.
  • Drilling has extended high-grade rare earth mineralisation from previous known 71m to 116m downhole.
  • Individual drill core returns up to 181kg/tonne TREO, including 36.6kg/tonne MREO over two metres from 37 metres.
  • World class maximum MREO values: 1.0% Pr6O11, 2.55% Nd2O3, 986ppm Dy2O3, and 196ppm Tb4O7 over 2-metre sample intervals.
  • MFSR-051 also intersected high-grade critical mineral gallium to end-of-hole, enhancing project economics.
  • Drilling planned for approximately 25 drillholes for ~4,000m of diamond core drilling to target depth and expansion of existing high-grade mineralisation.
  • Power Minerals Limited is an ASX-listed exploration and development company focused on transforming lithium brine resources in Argentina and developing REE, niobium, and other critical mineral assets in Brazil.
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.