- Power Minerals (PNN), formerly PepinNini Minerals, has completed phase one diamond drilling at the Santa Ines project in Argentina
- The program included five holes which targeted structures below historical workings with copper-iron-gold mineralisation, as well as an unexplored shallow magnetic target
- Initial observations have shown that all holes logged oxidised copper minerals and the magnetic target recorded magnetite-haematite veins
- Power Minerals has sent off samples to a lab for assaying and expects to receive results next month
- PNN shares are up 5.88 per cent to trade at 36 cents at 11:32 am AEST
Power Minerals (PNN) has recently completed phase one drilling at the Santa Ines copper-gold project in northwest Argentina.
The Santa Ines project is made up of four mining licences that cover a combined area of 61.5 square kilometres.
The drilling effort covered 651.4 metres across five diamond holes, with each hole inclined at 60 degrees perpendicular to the strike of the mineralised zones.
Power Minerals aimed to target structures below historical surface workings with strong copper-iron-gold mineralisation as well as test a separate, unexplored shallow magnetic target.
While assays are yet to be received, initial observations have shown that all drillholes logged oxidised copper minerals (malachite and chrysocolla) and the magnetic target recorded magnetite-haematite veins.
Moreover, Power said the diamond core recovery was “excellent” with recovery ranging up to 98 per cent in one hole.
The company has sent 360 samples of drill core to an Argentinian lab for multi-element analyses. Assays are expected in July.
Power Minerals recently changed its company name from PepinNini Minerals to better reflect its renewed focus on its battery and technology metals projects.
PNN was up 5.88 per cent to trade at 36 cents at 11:32 am AEST.