Power Minerals Drilling at Brazil Project Intersects High-Grade Rare Earth Mineralization

MT Newswires Live10-14 12:08

Power Minerals (ASX:PNN) said ongoing drilling at the Morro do Ferro project in Brazil intersected thick high-grade rare earth mineralization from surface to 91 meters, according to a Wednesday filing with the Australian bourse.

Results for the MFSR-055 drill hole include 91 meters at 7.7% total rare earth oxide (TREO) with 1.4% magnet rare earth oxide (MREO) from surface, 62 meters at 11.1% TREO with 2% MREO from surface, and 23.1 meters at 17.5% TREO with 3.2% MREO from 13 meters.

The company also said an intercept of two meters at 22.6% TREO from 25 meters "is the second-highest individual sample TREO at Morro do Ferro."

Drilling remains ongoing, and the latest results indicate that rare earth oxide mineralization continues at depth and extends to the southeast, Power Minerals said.

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