Power lands ‘exceptional’ high-grade MREO, TREO results from maiden drilling at Morro do Ferro

Power Minerals (ASX:PNN) has announced “exceptional” high-grade Magnet Rare Earth Oxides (MREO) and Total Rare-Earth Oxides (TREO) results from the first drill hole of its maiden drilling at Morro do Ferro in Minas Gerais.

Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.

Drill hole MFSR-051 intersected 116 metres at 4.78% TREO from surface, the explorer reported, including 31 metres at 10% TREO and 1.58% MREO starting from 14 metres downhole. Individual drill core samples returned up to 18.12% TREO and 3.66% MREO over a two-metre interval from 37 metres.

Additionally, the first Morro do Ferro hole intersected high-grade critical mineral gallium to the end-of-hole, with analyses showing a consistent pattern averaging 51.7 ppm and reaching a maximum of 62.4 ppm.

“We are delighted to announce initial results from first drilling at Morro do Ferro. The first hole has delivered standout results,” Power CEO Alistair Stephens said.

“The hole returned exceptionally high gallium concentrations, which further highlight Morro do Ferro’s standing as an exceptional emerging critical minerals asset, and align with our U.S.-facing end-market strategy.”

“The addition of gallium has the potential to significantly enhance project economics in any future critical minerals producing operation at the project, and will be pursued as we progress our drill-out at the project,” he added.

The ongoing program is planned to comprise ~25 drill holes totalling around 4,000 metres of diamond core drilling, alongside 800 metres of larger-diameter PQ core drilling for metallurgical testwork. A second rig has arrived on site to start operations, while two more holes are currently awaiting analysis.

“These outstanding results reinforce our confidence in the project as we continue drilling with two shifts currently in operation, and an additional rig set to commence,” Mr Stephens also told shareholders today.

“Our impressive results position us firmly among industry leaders, and we will keep our shareholders updated as we receive further assay results.”

HotCopper understands the results from MFSR-051 will be integrated into the existing geochemical database to support a planned maiden resource estimate, which is anticipated before the end of CY26.

PNN will open at 10.5cps today.

Join the discussion: See what HotCopper users are saying about Power Minerals Ltd and be part of the conversations that move the markets.

Disclaimer: This content has been prepared as part of a partnership with Power Minerals Ltd and is intended for informational purposes only.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.