Power Minerals (ASX: PNN) has announced a significant step forward at its Santa Anna Project in Brazil, reporting continued high-grade niobium and rare earth results from its latest auger drilling program.
These results reinforce the near-surface resource potential and advance the company towards defining a maiden Mineral Resource Estimate (MRE).
High-Grade Niobium-REE Intercepts
The latest auger drilling has delivered multiple shallow high-grade Total Rare Earth Oxide (TREO) intercepts.
Notably, drill hole MN-TM-057 returned 14 metres (m) at 6,081 parts per million (ppm) TREO from surface, including 3m at 15,436 ppm TREO from 11m. Drill hole MN-TM-056 showed 14.5m at 5,904 ppm TREO from surface, including 2m at 12,003 ppm TREO from 12m.
Further strong results include MN-TM-054 with 8.5m at 6,900 ppm TREO from surface, incorporating 2m at 13,082 ppm TREO from surface. MN-TM-052 intersected 17m at 2,451 ppm TREO from surface, and MN-TM-055 yielded 13.5m at 5,640 ppm TREO from surface.
Significant niobium (Nb2O5) intercepts were also recorded. MN-TM-055 returned 13.5m at 3,529 ppm Nb2O5, including 4m at 4,942 ppm Nb2O5 from 7m. Additionally, MN-TM-057 registered 3m at 4,019 ppm Nb2O5 from 11m.
Advancing to Maiden Resource Estimate
To further define the mineralisation, a substantial 10,000m reverse circulation (RC) drilling campaign is now underway.
The program aims to test deeper mineralisation and expand the known footprint across the project area. An initial 2,000m of RC drilling, comprising approximately 40 holes, is currently in progress.
In a move to quantify the project's potential, SRK Consulting has been engaged to define a maiden MRE for the Santa Anna Alkaline Carbonatite Complex.
Power Minerals anticipates delivering this MRE within the current quarter.
Geophysical Survey and Project Ownership
A drone-based magnetic-DEM survey has been completed across the Santa Anna complex.
This survey will play a key role in prioritising high-grade niobium targets for ongoing and future drilling campaigns.
Power Minerals maintains 100% ownership of the Santa Anna complex, which encompasses an area of approximately 1,705 hectares under permits ANM 861.559/2021 and 860.896/2024.
The acquisition of this promising project was finalised in late 2025, cementing its place in the company's portfolio.
Context: Previous Exploration and Strategy
These latest results build on previous successful exploration efforts at Santa Anna.
Earlier auger drilling programs, reported in January 2026, consistently confirmed high-grade near-surface niobium and rare earth mineralisation. These programs highlighted multiple shallow intercepts, with TREO grades up to 16008 ppm and Nb2O5 up to 5327 ppm.
The project's shallow weathered zone has been repeatedly validated as hosting significant mineralisation, with indications of potential continuation at depth.
Prior RC drilling, including a maiden 29-hole, 2,272m program and a broader third-phase campaign, has been instrumental in understanding the project's geological model.
Power Minerals has strategically focused on developing critical minerals projects in South America, with the Santa Anna project in Brazil being a cornerstone of this strategy since its acquisition as a drill-ready carbonatite complex in late 2025.
Santa Anna Potential Reinforced
Power Minerals continues to deliver positive exploration results from its Santa Anna project, demonstrating significant near-surface niobium and rare earth potential.
The current RC drilling campaign and upcoming maiden resource estimate are key catalysts for de-risking and defining the project's scale.
