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Power Minerals (ASX:PNN) shares have jumped on Monday morning and are currently flirting with the 10cps mark as the company unveils fresh hits of high-grade niobium and rare earth element (REE) mineralisation on-site at its Brazilian Santa Anna carbonatite project (BSACP).
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Disclaimer: This content has been prepared as part of a partnership with Power Minerals Ltd and is intended for informational purposes only.
A 1,000m shallow drill run targeting the top 15 metres of the BSACP boundary envelope returned high-grade results in holes #18 and #19, respectively, with 20m a 2,006ppm Niobium (Nb2O5) from surface to termination; the same drillhole also yielded 4,757ppm total rare earth oxides (TREO) from surface to end of hole (EOH), with a second drillhole also returning 13m at 6,774ppm TREO.
This comes moments before a larger 10,000m RC drill campaign on-site, which is set to extend the known mineralised footprint of the BSACP. The first 2,000m leg of that wider 10,000m program kicks off next month before the new year.
All in all, Power is targeting a maiden JORC MRE for BSACP within Q1 of CY26; noting on Monday “consistent high grades continue to be received from drilling,” and the ongoing auger program returning niobium hits also adds potential.
“Latest results from our ongoing auger drilling at Santa Anna continue to validate our exploration model and provide confidence about the potential of this project, as we compile drill data to deliver our goal of defining a maiden Mineral Resource Estimate for the project, which we hope will be substantial,” Power Minerals’ MD Mena Habib said.
PNN last traded at 9.3cps.
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