Power Minerals Limited is set to acquire the Santa Anna Niobium-REE-Gallium Project in Brazil following successful due diligence that confirmed significant mineralisation and expansion potential.
- Successful completion of due diligence at Santa Anna Project
- Significant niobium and rare earth element mineralisation confirmed
- Phase 2 drilling underway to expand mineralised footprint
- Acquisition subject to definitive agreement with Brazilian partner EDEM
- Project complements Power Minerals’ South American critical minerals portfolio
Strategic Acquisition in Brazil
Power Minerals Limited (ASX – PNN) has announced it will proceed with the acquisition of the Santa Anna Niobium-REE-Gallium Project located in Goiás State, Brazil, after successfully completing its due diligence phase. This move significantly bolsters Power Minerals’ position as a key player in the South American clean energy metals sector, adding a promising asset to its portfolio of critical minerals.
The Santa Anna Project, discovered in 2021, covers a 17.05 square kilometre alkaline complex with extensive potential for growth. Power Minerals’ maiden drilling program, combined with historic data, has revealed broad zones of niobium and rare earth element (REE) mineralisation both at surface and at depth, validating the company’s exploration model and highlighting the project’s expansion potential.
Impressive Drilling Results
The drilling results have been particularly encouraging, with intersections such as 129 metres at 1,729 ppm niobium pentoxide (Nb2O5) from surface, including higher-grade zones exceeding 10,000 ppm Nb2O5. Similarly, rare earth oxides (TREO) have been found in significant concentrations, with some intervals showing over 24,000 ppm TREO. These findings indicate a robust mineralised system that could support future resource development.
Importantly, approximately 89% of the surface area remains untested, suggesting a substantial opportunity for further discovery and resource expansion. The ongoing Phase 2 drilling program aims to extend the mineralised footprint, potentially increasing the project’s scale and value.
Partnership and Local Expertise
The acquisition is contingent upon finalising a definitive agreement with EDEM, the Brazilian mining and development company that currently owns the project. EDEM brings valuable local expertise, infrastructure, and community relationships, which are critical for advancing exploration and eventual development. This strategic partnership is expected to facilitate smoother project execution and leverage EDEM’s established presence in Goiás State.
Power Minerals is well funded to support exploration activities and has structured milestone payments to allow sufficient time to add value before further capital commitments. The company’s Managing Director, Mena Habib, described the acquisition as potentially company-changing, emphasizing the district-scale nature of the carbonatite-hosted niobium and REE deposit.
Looking Ahead
With the acquisition process underway and Phase 2 drilling in progress, Power Minerals is positioning itself to become a significant supplier of critical minerals essential for clean energy technologies. The Santa Anna Project’s location on accessible, flat terrain with existing infrastructure further enhances its development prospects.
Investors and industry watchers will be keenly observing the results of the ongoing drilling and the finalisation of the acquisition agreement, which together will shape the project’s future trajectory.
Bottom Line?
Power Minerals’ Santa Anna acquisition could redefine its growth path in critical minerals exploration.
Questions in the middle?
- What will Phase 2 drilling reveal about the full extent of mineralisation at Santa Anna?
- How will the partnership with EDEM influence project development timelines and costs?
- What are the next steps toward defining a formal mineral resource and potential mine development?