Power Minerals defines robust maiden Morro do Ferro exploration target

• Exploration target to optimise current drilling on path to MRE
• Exploration target reported in two components
• Exploration model based on 169 historic and current drillholes
• Historical assays supported by 2026 verification sampling and twin holes

Power Minerals (ASX: PNN) has released a robust maiden exploration target for its Morro do Ferro (MDF) rare earth project in Brazil.

The defined exploration target is estimated at approximately 9.2 to 10.7 million tonnes at 7.8% to 9.2% total rare earth oxide (TREO) with an estimated 1.3% to 1.6% of high-value magnet rare earth oxide (MREO).

The company told shareholders the release represents a significant step in the project’s development pathway and provides a framework for optimising the current drilling program.

It is also an important component for assessing continuity to support a maiden mineral resource estimate (MRE).

Power is progressing a maiden diamond drilling program of 25 HQ core holes for approximately 4,000m at MDF. Two rigs are currently operating, and drilling is ongoing. The program is expected to be completed in eight weeks.

Elsewhere the company recently signed an agreement with the Government of the State of Minas Gerais, Brazil, for priority-project treatment of MDF.

Under that agreement, environmental licensing is intended to follow the State’s specialised pathway within the Minas Gerais State Secretariat for Environment and Sustainable Development (SEMAD), with technical assessments conducted by the state environment foundation FEAM.

Exploration wise, UAV-integrated geophysical surveying over approximately eight sq. km independently supports the interpreted mineralised trend.

The deposit lies within a broad 900m by 700m magnetic anomaly formed by northwest-trending magnetite bodies, consistent with the 116° model orientation. The radiometric image shows a discrete surface aureole, and radiometric response correlates strongly with TREO grade.

Two targets outside the modelled exploration target have been identified at MFT-088 and MFT-070, each supported by coincident structural, magnetic and/or radiometric features.

PNN was down 1.67% to 14.8¢. Mkt cap $65.65M.

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