Power Minerals Confirms Niobium, Tantalum, and REE Mineralization at Lĺtio Project in Brazil
PNN (PNN) Share Update July 2024 Tuesday 16th
Power Minerals Confirms Niobium and Tantalum Mineralization in Brazil
Power Minerals Limited (ASX: PNN) has announced promising initial sampling results from its Lĺtio Project in Brazil, confirming the presence of valuable niobium, tantalum, and rare earth elements (REE).
Instant Summary:
- Initial sampling confirms niobium, tantalum, and REE mineralization.
- High-grade results include 37.9% Nb2O5 and 43.3% Ta2O5.
- Samples collected near the northern boundary adjacent to Summit Minerals' project.
- Systematic sampling program to prioritize targets for further exploration.
- Artisanal workings to be investigated for prospective target areas.
Initial Sampling Results
Power Minerals Limited (ASX: PNN) has released initial sampling results from its Lĺtio Project in Brazil, confirming the presence of niobium, tantalum, and rare earth elements (REE) across the project area. The samples were collected near the project's northern boundary, adjacent to Summit Minerals' Equador Project.
Key results include:
- 37.9% Nb2O5 and 12.3% Ta2O5 with 3200ppm partial REO in sample P0454/24
- 43.3% Ta2O5 and 17.8% Nb2O5 with 1002ppm partial REO in sample P0453/24
- 40.6% Ta2O5 and 18.8% Nb2O5 with 1023ppm partial REO in sample P0457/24
Sampling Method and Next Steps
The samples were collected using a technique similar to that employed by Summit Minerals, focusing on mafic, darker minerals that typically host niobium and tantalum. This method is faster than systematic channel sampling at this early exploration stage.
Power Minerals plans to undertake a more systematic sampling program, including outcrop rock chip and stream samples, to prioritize targets for further exploration. The company will also investigate existing artisanal workings (Garimperios) as a guide to prospective target areas.
Analytical Process
The analytical sampling was completed by ASIC Services in Santos, Brazil. The concentrate samples were pressed into a pellet after preparation and analyzed using industry-standard XRF to provide quantitative oxide results. Additional elements were measured qualitatively, including the presence of gold and platinum, but their significance remains uncertain until further analysis is completed.
Power Minerals expects to commence the next phase of its sampling program at the Lĺtio Project in the coming weeks. The company is also finalizing due diligence on its option to acquire the Lĺtio Project, with terms announced on 3 July 2024.
The confirmation of high-grade niobium, tantalum, and REE mineralization at the Lĺtio Project is a significant positive development for Power Minerals. This discovery could enhance the company's asset portfolio and attract investor interest. The systematic sampling program and further exploration efforts will be crucial in determining the project's full potential.
Investor Reaction:
Investors and analysts have reacted positively to the news, noting the high-grade results and the potential for further discoveries. The proximity to Summit Minerals' successful project adds credibility to Power Minerals' findings.
Conclusion:
Power Minerals' confirmation of niobium, tantalum, and REE mineralization at the Lĺtio Project is a promising development. Investors should keep an eye on the upcoming systematic sampling program and further exploration results to gauge the project's potential impact on the company's stock and overall market position.