Power Minerals defines rare earth target at Morro do Ferro

Power Minerals has announced the definition of its first exploration target at the Morro do Ferro Project in southern Minas Gerais, Brazil. The target is estimated to contain between 9.2 million and 10.7 million tonnes of material, with total rare earth oxide (TREO) grades ranging from 7.8% to 9.2%.

The target also includes an estimated 1.3% to 1.6% of magnetic rare earth oxides (MREO), which includes neodymium, praseodymium, terbium, and dysprosium. This data will serve as a foundation for the company’s current drilling campaign, which aims to expand knowledge regarding the continuity and dimension of the mineralization.

The current estimation is based on 169 historical and current drill holes, 3,241 analyses over 5,696 meters, drone-based LiDAR surveys, and integrated geophysical data. Power Minerals currently has two drills operating as part of a 25-hole diamond drilling program totaling approximately 4,000 meters. The company noted that results from nine additional drill holes, totaling 1,158 meters, are still pending laboratory analysis and could potentially alter the current tonnage and grade estimates.