Power Minerals clears due diligence on high-grade Brazilian rare earths project

The latest update is out from PepinNini Minerals Limited ( (AU:PNN) ).

Power Minerals Limited has completed corporate, financial and technical due diligence for the Morro do Ferro rare earths project in Minas Gerais, Brazil, clearing the way to finalise its acquisition. The project lies within the established Poços de Caldas Alkaline Complex and historical drilling has reported exceptionally high-grade total and magnetic rare earth oxide intercepts over substantial thicknesses from surface.

The company says these very high magnetic rare earth oxide concentrations, which account for most of the value in the rare earths market, underline the potential to define a significant mineral resource and enhance its strategic position in the sector. Following completion of a definitive agreement, Power plans deep reverse circulation and diamond core drilling on the main high-grade deposit and aircore drilling to test for satellite deposits across largely untested ground.

More about PepinNini Minerals Limited

Power Minerals Limited is an Australia-based resources company focused on critical minerals, with a growing portfolio that includes rare earth elements projects. The company is positioning itself within the global rare earths supply chain by targeting high-grade deposits that can supply key magnetic rare earth oxides used in advanced technologies and clean energy applications.

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Technical Sentiment Signal: Buy

Current Market Cap: A$44.11M

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