Power Minerals has initiated a 2,000m drilling campaign at its Santa Anna project in Brazil, aiming to validate and expand on historic high-grade niobium, rare earth elements, and gallium mineralisation ahead of a potential acquisition.
- 2,000m reverse circulation drilling underway at Santa Anna, Goiás State
- Historic assays show significant niobium, REE, and gallium grades
- Drilling to confirm and extend mineralisation and test new zones
- Results expected early Q3 2025 to inform acquisition decision
- Limited success at Nióbio Project leads to focus shift on Santa Anna
Strategic Drilling Commences at Santa Anna
Power Minerals Limited (ASX – PNN) has embarked on a pivotal 2,000-metre reverse circulation drilling program at its Santa Anna project, situated in the mineral-rich Goiás State of central Brazil. This initiative forms a critical part of the company's due diligence process as it evaluates the option to acquire this high-grade niobium, rare earth elements (REE), and gallium asset.
The Santa Anna project is hosted within a carbonatite complex known for its significant concentrations of strategic metals essential to clean energy technologies. Previous drilling by the project vendors has revealed impressive intercepts, including up to 14 metres grading 0.71% niobium pentoxide (Nb2O5) and rare earth oxide concentrations exceeding 12,000 parts per million, alongside gallium oxide grades reaching over 160 grams per tonne.
Aiming to Confirm and Expand Mineralisation
The current drilling campaign, conducted by local contractor Foraco, is designed to confirm these historic results and explore new sections within the alkaline complex. Most drill holes will target shallow depths under 100 metres to efficiently test the enriched weathered zones, which have shown promising mineralisation from surface. Power Minerals intends to expedite assay results, with findings anticipated in early Q3 2025, which will be instrumental in deciding whether to exercise its option to acquire the project.
Managing Director Mena Habib expressed optimism about the drilling phase, highlighting Santa Anna as an advanced, drill-ready asset that complements Power Minerals’ growing portfolio of critical minerals in South America. The acquisition would bolster the company's position as a focused explorer and developer of clean energy metals in the region.
Nióbio Project Update and Strategic Focus
Alongside Santa Anna, Power Minerals reported initial assay results from its Nióbio Project in Brazil. While one drillhole intersected notable niobium and tantalum mineralisation within pegmatite formations, overall results were disappointing, leading the company to deprioritize further exploration there. Instead, Power plans to concentrate its resources and efforts on advancing the Santa Anna project and exploring other value-accretive opportunities.
Environmental and Technical Considerations
The Santa Anna project benefits from a comprehensive historical drilling database and favorable geological conditions, including a weathered carbonate zone with low uranium and thorium content, suggesting minimal environmental concerns. The use of reverse circulation drilling allows for rapid and cost-effective exploration, with the mineralisation not structurally controlled, reducing the need for more complex diamond core drilling at this stage.
Looking ahead, subject to positive drilling outcomes and acquisition completion, Power Minerals plans to undertake further drilling to establish a maiden JORC-compliant Mineral Resource Estimate during 2025, advancing the project towards development.
Bottom Line?
Santa Anna’s drilling results will be a decisive factor in Power Minerals’ South American strategy and its critical minerals ambitions.
Questions in the middle?
- Will the upcoming assay results confirm and extend the high-grade mineralisation at Santa Anna?
- How will the potential acquisition of Santa Anna reshape Power Minerals’ project portfolio and market positioning?
- What are the environmental and permitting challenges that could impact project development timelines?