Power Minerals Limited has intersected 137 metres at 4.31% total rare earth oxides from surface at the Morro do Ferro Rare Earth Project in Brazil, including a high-grade core of 53 metres at 9.87% TREO.

Assays from drillhole MFSR-052 also returned 26.9 metres grading 13.0% TREO and 2.40% magnet rare earth oxides of whole rock from 19 metres downhole, marking the widest high-grade intersection recorded at the project to date. The interval included a project-record peak sample of 19.51% TREO and 3.96% MREO over two metres from 39 metres.

Power Minerals completed the acquisition of Morro do Ferro in April 2026 following technical evaluation of historical drilling data, and commenced its maiden diamond drilling campaign in June 2026, targeting approximately 4,000 metres across roughly 25 holes.

Drillhole MFSR-052 was collared 31.5 metres from the initial hole MFSR-051 on the same section. MFSR-051 previously intersected 116 metres at 4.78% TREO from surface. The company noted that the approximately 10% TREO core has widened from 31 metres in the first hole to 53 metres in MFSR-052, with the mineralisation remaining open.

“The results from MFSR-052 mark another important step in establishing the scale, grade and strategic character of Morro do Ferro. The 137m mineralised interval, including 53m at 9.87% TREO and 1.69% MREO, together with the elevated heavy rare-earth content, provides strong continuity with our first drill hole.

Morro do Ferro is advancing at a time when governments and industry are seeking credible, geographically diversified sources of the magnet rare earths essential to modern energy systems, advanced manufacturing and defence technologies. Although our drilling programme remains in its early stages and further technical work is required, these results reinforce the project's potential to emerge as a rare-earth asset of international significance.”

— Alistair Stephens, Chief Executive Officer

Gallium assays at the project remain affected by analytical interference from high rare earth concentrations. However, MFSR-052 returned a reliable result of two metres at 87.7 ppm gallium from 83 metres depth, and discussions are underway with the laboratory to establish a more robust analytical method. Two diamond rigs are currently operating at the project with additional shifts.

Power Minerals expects to release further assay results for subsequent drillholes starting from MFSR-053 as they become available, and plans to define a JORC 2012 Mineral Resource Estimate for Morro do Ferro later in 2026.

Read the full announcement: 2ND HOLE DELIVERS HIGHEST EVER MREO INTERCEPT FROM SURFACE