Power Minerals Limited (ASX: PNN, Power or the Company) is pleased to announce high-grade niobium, tantalum, and rare earth elements (REE) sampling results at the Tntalo Project in Brazil.
The sampling program is a key component of Power's due diligence process in respect of its exclusive option to acquire the Tntalo Project (ASX announcement 25 September 2024). The Project is located immediately south of the Company's Niobio niobium, REE and lithium Project, in Paraiba state, Brazil. Using the same technique as used in the Niobio Project, Power collected rock-chip samples directly from outcropping pegmatite intrusions exposed in artisanal workings. Mafic, darker minerals were concentrated and sent for analyses as the niobium (Nb) tantalum (Ta) and other REE elements are generally hosted in the dark-coloured minerals of columbite, tantalite, tourmaline, and micas. This sampling method is more rapid and cost-effective than systematic channel sampling at this early stage of exploration. The aim is to rapidly rank the targets based on concentrate element relative values and ratios, as a heavy mineral concentrate would be a natural product in this mineralised environment.
Next steps Power recently signed a Term Sheet for an exclusive Option with Brazilian company, Cooperativa dos Trabalhadores de Minerio e Agricultura de Equador e Serido (COOTMAES), to acquire the Tntalo Project. Key terms of the Term Sheet include are outlined in ASX announcement of 25 September 2024. Upon executing the Option, Power entered into a 60-day period of due diligence, which has included the reconnaissance sampling. Power now plans to conduct a first-pass drilling program, subject to site access, to further confirm the presence of mineralisation with the project area. Power's strategy is then to produce a niobium-tantalum concentrate for initial testing by prospective offtake partners
Tntalo Project background
Commentary on sampling program
The analytical sampling results were completed by ASIC Services (a division of Alex Stewart International laboratories) in Santos, Brazil. The concentrate samples were pressed into a pellet after sample preparation and then analysed by industry standard XRF to provide quantitative oxide results. Additional elements were measured but only by qualitative XRF and these have not been reported because their absolute values are unreliable. These qualitative analyses did report the presence of gold, platinum, and other REE's but until further analyses are complete their significance is uncertain. Currently little is known regarding the mineralogy of the artisanal workings, but it is believed there are generally exploiting pegmatite intrusions hosting mineralisation. There will likely be different populations of pegmatites in age and mineralogical variations reflecting crystallisation zonation based on distance and petrophysical conditions from any concealed granitoid source at depth, thus providing opportunities for variations in the proportion of prospective elements. The current sampling confirms Ta-Nb and REE occur in the workings tested. The exploration objective is to locate mineralised sources to produce Nb-Ta concentrate products using low-cost gravity separation. Having a range of sources provides an opportunity for blending to produce superior and in-demand concentrate products. This is why mafic mineral concentrates are the preferred sampling medium, as they quickly and efficiently discriminate those pegmatites and artisanal workings that warrant further attention.
Contact:
Tel: +61 8 6385 2299
Email: admin@powerminerals.com.au
ABOUT POWER MINERALS LIMITED
Power Minerals Limited is an ASX-listed exploration and development company. We are committed to the development of our lithium assets in Argentina into significant lithium producing operations, the exploration of our niobium prospective assets in Brazil and delivering value from our non-core Australian assets.
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