Power Minerals (ASX:PNN) Completes First Phase Drilling at Nióbio Project
Drilling Completion
Power Minerals Limited (ASX: PNN) has successfully completed its first-phase diamond drilling program at the Nióbio Project in Brazil. The company drilled 10 holes totaling 809.75 metres across three targets, intercepting pegmatites in all holes with several intercepts exceeding 30 metres in thickness.
Operational Highlights
The drilling targeted priority pegmatite sites identified from prior sampling and a recent LiDAR survey. Detailed logging and pXRF analysis are underway to select samples for laboratory testing, with assay results expected in March/April 2025. Planning for the next exploration stage will commence upon the completion of laboratory analysis.
Executive Comments
Power Minerals Managing Director, Mena Habib, stated, “We’re pleased to have completed our first-phase of drilling at the Nióbio Project to plan and schedule. Initial results are encouraging, with pegmatites intercepted in all 10 holes completed, some being broad intercepts more than 30 metres wide. Samples are currently being prepared to be submitted for laboratory analysis, with assay results expected in the following month. The results from this initial drilling are anticipated to play a key role in planning for further exploration at the Project. There are also numerous un-tested, immediate, walk-up targets at Nióbio, and we look forward to systematically assessing these as we move forward with our exploration of the Project.”
Next Steps
Power Minerals plans to use the assay results to rank priority targets for future drilling and will continue assessing additional pegmatites using LiDAR data. Subject to positive results, the company may re-drill the tested pegmatites to confirm grades and determine a mineral resource estimate. Environmental drilling approvals will be sought for other target pegmatites not yet drilled.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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