Power Minerals Analysis Shows Continuation of Rare Earth Mineralization at Brazil Project; Shares Rise 7%

MT Newswires Live10-06 12:44

Power Minerals (ASX:PNN) said a complete analysis of initial assay results from its Morro do Ferro project in Brazil showed continued evidence of high-grade rare earth oxide mineralization extending from the surface to considerable depths, according to a Tuesday filing with the Australian bourse.

Additional results from the MFSR-056 drill hole include 119 meters at over 4.9% total rare earth oxide (TREO) with nearly 0.9% magnet rare earth oxide (MREO) in whole rock from surface; 98 meters at almost 5.1% TREO with around 0.9% MREO in whole rock from surface; and 10 meters at over 12.3% TREO with nearly 1.9% MREO from 41 meters.

The results support Power Minerals' interpretation that the high-grade rare earth mineralization continues beyond the area defined by initial drilling, said CEO Alistair Stephens.

Shares of Power Minerals rose 7% in recent Tuesday trade.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment