FURTHER BROAD HIGH-GRADE REE MINERALISATION INTERSECTED

Key points

• Drillhole MFSR-054 intersects 88m at 6.33% TREO and 1.19% MREO
• Notable 20m interval at 12.05% TREO and 2.18% MREO
• Ongoing drilling to enhance understanding of mineralisation geometry

Full summary

Power Minerals Limited has announced further high-grade results from its drilling campaign at the Morro do Ferro Rare Earth Project in Brazil. Drillhole MFSR-054 intersected 88 metres at 6.33% Total Rare Earth Oxides (TREO) and 1.19% Magnet Rare Earth Oxides (MREO) from surface, including a 20-metre interval at 12.05% TREO and 2.18% MREO. Additionally, a 79-metre interval at 1.11% TREO was intersected, bringing the total continuous mineralisation to 167 metres in the drillhole. The mineralisation is microscopic and not visible to the naked eye. The company is planning for a maiden Mineral Resource Estimate (MRE) based on these results, which may lend itself to a potential open-pit operation. The near-surface mineralisation provides a potential key positive differentiator relative to other REE development assets, offering potential cost savings and speed of development.

Outlook

Power Minerals is progressing with its maiden drilling program, aiming to complete the drilling program, progress metallurgical test work, and build a sound geological foundation for a maiden Mineral Resource estimate.