Libra Begins First Drilling at Brazilian Penelope Rare Earths Project

PowerStone Metals Corp. ( (TSE:LIBR) ) just unveiled an announcement.

Libra Energy Materials has launched its first auger drilling campaign at the 100%-owned Penelope rare earths project in Minas Gerais, Brazil, targeting the Elena and Gaia prospects where prior sampling indicated notable rare earth and critical metal grades. The low-cost program aims to quickly evaluate the scale and depth of rare earth element mineralization in the regolith, testing an emerging ionic adsorption clay-style model that could enhance the project’s potential value and strengthen Libra’s positioning in the critical minerals supply chain.

The Penelope property hosts NYF-type pegmatites and A-type granite beneath a thick rare earth-enriched weathered layer, with historic samples showing high niobium, tantalum, and rare earth contents at surface and shallow depths. By advancing systematic drilling in a mining-friendly Brazilian jurisdiction, Libra is moving from early-stage sampling toward more robust geological understanding, a step that could de-risk the asset and broaden its exposure within the fast-growing rare earths and energy-transition materials market.

More about PowerStone Metals Corp.

Libra Energy Materials Inc. is a Canadian mineral exploration company focused on critical minerals needed for the green energy transition. Its portfolio includes joint-venture projects in Ontario with KoBold Metals and wholly owned lithium, graphite, and cobalt projects across Canada and Brazil, an emerging hub for critical mineral development.

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