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Highlights:
Power Minerals (ASX:PNN) plans to conduct a maiden drilling program at the Tântalo Project in Brazil following a successful reconnaissance sampling campaign.
Initial sampling results confirm the presence of mineralisation, including high levels of niobium, tantalum, and rare earth oxides in pegmatite intrusions.
Power Minerals holds an exclusive option to acquire the Tântalo Project, subject to successful due diligence and site access.
Power Minerals Ltd (ASX:PNN) is advancing its exploration efforts at the Tântalo Project in Brazil, with plans to initiate a maiden drilling program. The decision follows the completion of a first-pass reconnaissance sampling campaign, which was conducted as part of a 60-day due diligence process. In September 2024, Power Minerals signed a term sheet granting it an exclusive option to acquire the Tântalo Project, subject to successful exploration outcomes and site access.
The reconnaissance sampling results have provided promising indications of the project's mineralisation potential. Notably, the samples revealed significant concentrations of niobium pentoxide and tantalum pentoxide, as well as elevated levels of rare earth elements (REE). Among the standout results were 47.3% niobium pentoxide and 20.7% tantalum pentoxide, alongside 3,251 parts per million (ppm) of partial REO. Additional results showed 31.8% niobium pentoxide and 23.8% tantalum pentoxide with 6,775ppm REO, and 11.2% niobium pentoxide and 25% tantalum pentoxide with 10,442ppm REO. These findings confirm the presence of mineralised pegmatites, further supporting the project's exploration potential.
The Tântalo Project is located in Paraíba state, Brazil, and covers 57.8 square kilometres across 12 granted permits. It lies immediately south of the Nióbio Project, a known niobium resource. Power Minerals is focusing on the development of its lithium and niobium assets, with this project marking a significant step in the company's growth strategy.
Managing Director Mena Habib expressed confidence in the Tântalo Project’s potential, stating that the results from the reconnaissance program have provided a strong foundation for the next phase of exploration. The company will now focus on the upcoming drilling program to further evaluate the extent of the mineralisation.
