Power Minerals Secures $1.3M to Drill High-Grade Santa Anna Niobium Project

Strategic Partnership with Local Expertise

Power Minerals Limited (ASX: PNN) has announced a strategic partnership with Brazilian mining company EDEM, marking a significant step towards acquiring and developing the Santa Anna Niobium Carbonatite Project in central Brazil’s Goiás State. This collaboration leverages EDEM’s extensive 30-year experience, local infrastructure, and operational scale, providing Power with a substantial advantage in advancing exploration efforts.

Under the partnership, EDEM will supply drilling equipment and personnel at a fraction of typical costs, alongside discounted laboratory analysis services. This arrangement is expected to reduce exploration expenses by approximately two-thirds, enabling Power to efficiently conduct due diligence and accelerate project evaluation.

High-Grade Niobium and Rare Earth Potential

The Santa Anna Project is a drill-ready, high-grade niobium carbonatite asset with promising rare earth element (REE) mineralisation. Previous drilling has revealed significant niobium grades, including intervals exceeding 1% Nb2O5, and notable concentrations of total rare earth oxides (TREO). The project also holds phosphate potential, which EDEM intends to focus on, while Power concentrates on critical minerals.

Power has commenced a reverse circulation drilling program to confirm an Exploration Target under the 2012 JORC Code, aiming to delineate a maiden Mineral Resource Estimate. The extensive existing drilling database and surface geochemical sampling provide a strong foundation for further resource definition and expansion.

Funding and Future Opportunities

To support exploration activities, Power completed a $1.3 million placement, earmarked for niobium, gallium, and REE exploration. The partnership also opens avenues to jointly assess other value-accretive projects within EDEM’s portfolio, potentially broadening Power’s footprint in Brazil’s critical minerals sector.

Power’s Managing Director, Mena Habib, highlighted the strategic value of the partnership, emphasizing the cost savings and local expertise that will help fast-track development. The collaboration is positioned to enhance Power’s standing as a South American-focused clean energy metals explorer and developer.

Outlook and Next Steps

As drilling progresses, market participants will be watching closely for assay results that could validate the project’s resource potential. The successful exercise of the option to acquire Santa Anna hinges on due diligence outcomes, but the partnership with EDEM provides a robust platform to navigate operational and regulatory challenges.

With exploration permits already secured and a strong local partner, Power Minerals is well placed to advance the Santa Anna Project and potentially unlock further critical mineral opportunities in Brazil.