2ND HOLE DELIVERS HIGHEST EVER MREO INTERCEPT FROM SURFACE

Key points

• 137m at 4.31% TREO and 0.73% MREO from surface
• 53m at 9.87% TREO and 1.69% MREO from surface
• 26.9m at 13.0% TREO and 2.40% MREO from 19m
• Peak sample of 19.51% TREO and 3.96% MREO
• High-grade gallium at 87.7 ppm Ga from 83m

Full summary

Power Minerals Limited has reported assay results from the second drillhole, MFSR-052, at the Morro do Ferro Rare Earth Project in Brazil. The hole intersected thick, high-grade mineralisation from the surface, with a 137m interval at 4.31% TREO and 0.73% MREO, including a 53m interval at 9.87% TREO and 1.69% MREO. The highest-grade intersection was 26.9m at 13.0% TREO and 2.40% MREO from 19m. The peak sample recorded was 19.51% TREO and 3.96% MREO over 2m from 39m. The results indicate continuity with the first drillhole, MFSR-051, and confirm the presence of high-grade magnet rare earths and elevated heavy rare earths, including the best reliable gallium result at the project.

Outlook

The company plans to continue drilling with two rigs, aiming to extend high-grade mineralisation and provide metallurgical samples. Further assays are pending, and discussions are ongoing to resolve gallium analytical method issues.