Santa Inés Drilling Confirms Shallow Mineralisation, Eyes 600m Deep Targets

Strategic Relaunch Amid Strong Commodity Markets

Power Minerals Limited (ASX, PNN) has announced a strategic relaunch of its Santa Inés Copper-Gold Project in Argentina’s Salta Province, aiming to capitalise on the current strength in copper and gold prices. Having regained full ownership of the project, the company is now poised to unlock value through a renewed exploration campaign focused on deeper targets.

The Santa Inés Project, located in the prolific Puna region, sits along a major crustal-scale structural corridor known as the Archibarca lineament. This geological feature is recognised for hosting significant porphyry and epithermal deposits, including nearby operating and advanced projects such as Fortuna Mining’s Lindero Gold Mine and BHP’s giant Escondida copper-gold mine.

Promising Early Results and Untapped Depths

Initial exploration efforts have yielded encouraging results. Surface rock chip samples have returned exceptional copper grades exceeding 1%, alongside gold values up to 0.8 grams per tonne. Meanwhile, a shallow drilling campaign comprising five holes totalling just over 650 metres confirmed mineralisation continuity, with notable intercepts such as 26 metres at 0.6% copper from 62 metres depth.

However, these drill holes barely scratched the surface, with the deepest reaching only 130 metres below ground. Geophysical surveys now point to a potentially large mineralised system starting at around 600 metres depth; a zone yet to be tested by drilling. This suggests the possibility of a significant porphyry or feeder system at depth, which could materially enhance the project’s value.

Data Integration and Forward-Looking Exploration

Power Minerals is embarking on a comprehensive data integration and reinterpretation program. This involves applying modern processing techniques to historical magnetic and induced polarisation data, combined with structural modelling and surface mapping. The goal is to refine the geometry of deep targets and generate high-impact drill targets for future deep diamond drilling campaigns.

Logistically, Santa Inés benefits from proximity to the Salta-Antofagasta railway, facilitating transport to the Pacific coast, and is accessible via existing infrastructure. The project’s location in a mining-friendly province further supports its development potential.

Managing Director Mena Habib emphasised the opportunity, "With copper and gold prices reaching new heights, Santa Inés represents a compelling opportunity for Power. The real prize may lie deeper, and the geophysics gives us a clear path forward to add significant value for our shareholders."

Outlook and Market Implications

As Power Minerals moves from shallow reconnaissance to targeting deeper mineralisation, investors will be watching closely for results from the upcoming deep drilling programs. Success at depth could position Santa Inés as a significant copper-gold asset in a region already proven for world-class deposits, potentially reshaping the company’s growth trajectory amid a favourable commodity cycle.