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Power Minerals Limited (ASX:PNN)

ALERT: Price-sensitive ASX Announcement for PNN
Current share price for PNN : $0.125 -0.045 (-26.47%)+
Announcement
Release
24 Aug 2026 9:10AM
Price at Release
$0.170
Full Release
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Summary
Power Minerals Limited, operating under the ASX ticker PNN, has reported significant findings from their Morro do Ferro Rare Earth Project in Brazil. The second drilled hole, MFSR-052, recorded the highest Magnet Rare Earth Oxide (MREO) intercept from surface to date, with a 137m mineralized interval yielding 4.31% Total Rare Earth Oxide (TREO) and 0.73% MREO. Within this interval, a notable segment from 19m returned 26.9m at 13.0% TREO and 2.40% MREO. This result, described as the highest MREO intercept from the project, includes substantial heavy rare earth elements. These findings demonstrate the project's potential as a significant contributor to the rare earth supply chain, especially in energy and defense sectors. The continuation of drilling with two rigs aims to extend the mineralization and provide further metallurgical samples.
Key Points
  • MFSR-052 intersected 137m at 4.31% TREO from surface.
  • Included within this, 53m at 9.87% TREO and 1.69% MREO.
  • Highest-grade zone of 26.9m at 13.0% TREO and 2.40% MREO from 19m.
  • Project-record MREO sample of 3.96% from 39m.
  • High-grade gallium intersected at 87.7 ppm Ga from 83m.
  • The project is advancing to meet demands for magnet rare earths in energy and defense.
  • Ongoing drilling with two rigs to further define mineralization.
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.