Power Minerals to advance Santa Anna acquisition following strong drilling results

Power Minerals confirms strong niobium and rare earth results from maiden drilling at Brazil’s Santa Anna Project, paving the way for acquisition and further exploration.

Power Minerals Ltd (ASX:PNN) is set to power ahead with its planned acquisition of the Santa Anna Project in Brazil after reporting encouraging results from its maiden drilling campaign, which confirmed strong niobium and rare earth element (REE) mineralisation.

In April 2025, the company signed a binding letter of intent securing an exclusive option to acquire the Santa Anna Project. If finalized, the acquisition would significantly strengthen Power Minerals’ strategic position as a South America-focused explorer and developer of clean energy metals.

The recently completed 29-hole reverse circulation drilling program, totaling 2,272 metres, was conducted as part of the company’s due diligence process. The aim was to validate previous exploration work, assess new target zones, and support the development of an exploration target and maiden resource estimate for the project.

One of the standout drill results came from hole MN-RC-028, which intersected:

• 87 metres @ 2,124ppm niobium pentoxide from 24m, including:
• 1 metre @ 5,745ppm niobium pentoxide from 107m
• 3 metres @ 10,117ppm niobium pentoxide from 24m

Power Minerals Managing Director Mena Habib said the results exceeded expectations and confirmed the presence of significant mineralisation both at depth and within shallow weathered zones.

“These intercepts support our initial exploration model and open up the project’s depth potential,” said Habib. “With a footprint covering the entire Santa Anna Alkaline Complex—and much of it still untested—we are excited about what we might discover next.”

The Santa Anna Project is hosted within a niobium-rich carbonatite system and is also considered prospective for rare earth elements, gallium, and phosphate.

Power Minerals is advancing a dual focus on lithium projects in Argentina and critical mineral exploration in Brazil, aligning with the global demand for sustainable energy solutions and strategic mineral supply.