Santa Anna Drillhole MN-RC-028 Yields 87m at 2,124ppm Nb2O5 and 112m at 3,015ppm TREO

A Promising Start to Drilling at Santa Anna

Power Minerals Limited (ASX, PNN) has delivered a compelling first glimpse beneath the surface of its Santa Anna Project in Goiás State, Brazil. The company’s inaugural drillhole, MN-RC-028, intersected substantial zones of niobium and rare earth element (REE) mineralisation, confirming the presence of valuable metals at depths well beyond those explored by previous operators.

The results are notable, 87 metres grading 2,124 parts per million (ppm) niobium pentoxide (Nb2O5) from 24 metres downhole, including standout intervals of 1 metre at 5,745ppm and 3 metres at over 10,000ppm Nb2O5. In parallel, the hole returned 112 metres at 3,015ppm total rare earth oxides (TREO) from surface, featuring a 16-metre section enriched to 5,300ppm TREO with a significant 26.2% magnetic rare earth oxide (MREO) component.

Depth and Scale, Unlocking New Potential

MN-RC-028 reached a vertical depth of 129 metres, more than doubling the depth of the deepest historical drillhole at Santa Anna. This deeper penetration has unveiled mineralisation within fresh rock, a promising sign that the deposit extends further underground than previously understood. The final metre of the hole still contained elevated niobium grades, underscoring the potential for even greater depth extensions.

Power Minerals’ data analysis reveals that nearly 90% of the Santa Anna Alkaline Complex remains untested by drilling, highlighting a vast exploration upside. The combination of extensive untested ground and confirmed deep mineralisation significantly enhances the prospect of defining a substantial Mineral Resource in future studies.

Strategic Acquisition and Next Steps

The Santa Anna Project, a carbonatite-hosted niobium and REE asset, is currently under an exclusive option agreement for acquisition by Power Minerals. The recent drilling results form a critical part of the company’s due diligence, with the intention to exercise the option contingent on positive outcomes from the maiden drilling campaign.

Power Minerals has completed a 29-hole, 2,272-metre drilling program, with results from the remaining holes and gallium assays pending. The company plans further drilling to confirm, infill, and extend mineralisation, as well as to test new areas and depths within the complex.

Managing Director Mena Habib expressed enthusiasm about the findings, noting the alignment with the company’s exploration model and the exciting potential for discovery across the largely untested complex.

Context Within Brazil’s Goiás Alkaline Province

Santa Anna sits within the Goiás Alkaline Province, a geologically significant region known for alkaline magmatism and associated critical minerals. The project’s location near Mundo Novo and relative proximity to Brasilia positions it strategically within Brazil’s emerging critical minerals landscape.

Historical exploration by EDEM identified high-grade niobium, REEs, and gallium near surface, with Power Minerals’ deeper drilling now expanding the known mineralisation envelope. The project benefits from a comprehensive existing database and a variety of drilling techniques previously employed, setting a strong foundation for resource development.