PNN completes heavy rare earths sampling program in the USA

Our heavy rare earths Investment Power Minerals (ASX: PNN) just completed a sampling program at its US rare earths project.

PNN just announced the potential acquisition of the US asset in October where we added it to our portfolio, you can check out our initiation article: Our New Investment: Power Minerals Ltd (ASX: PNN).

As part of ongoing due diligence on the project, PNN just completed its first sampling program (spot rock and stream sediment sampling).

PNN also managed to map 15 of the 18 historic drilling sites, where drilling was last completed in 1976.

PNN expects results from the sampling program to come back inside the next month.

We are hoping the results can confirm (and improve on) the results published on the project before where grades were up to 20,233ppm TREO (non-JORC 2012).

(Source)

What else is PNN up to?

PNN also has a rare earths project in Brazil, with drilling set to get underway this month.

The first phase of drilling will use an RC rig, allowing PNN to test deeper targets, something we are keen to see the outcome of.

PNN also confirmed plans to run a geophysical survey, which will be followed by a 6,000m RC and diamond drilling program targeting anomalies identified from that work.

A diamond rig is expected on site in early 2026 (Source).

Deeper drilling is important because it will allow PNN to determine whether its project is hosted in a carbonatite system, a key part of its geological theory.

PNN believes its ground may share geological similarities with some of the world’s largest rare earth deposits, which are hosted in hard rock carbonatites, the same type seen at $15BN MP Materials, $14BN Lynas Rare Earths, and our Investment SGQ.

If PNN can confirm that its Brazilian project sits on a similar structure and grades stack up, it could be the beginning of a major discovery story.

Importantly, PNN owns all the ground surrounding the potential carbonatite complex, meaning any confirmation from drilling could be a transformational outcome for the company.

(Source)

What’s next for PNN?

🔄 Complete the acquisition of its US rare earths project

While the focus of today’s announcement was the rare earths project in Brazil, PNN is also completing the acquisition of a Rare Earth Project in California, USA

Read more on both the assets in our initiation note here: Our New Investment: Power Minerals Ltd (ASX: PNN)

Next we want to see PNN acquire its US rare earths project and start target generation works.

PNN will need to go to a shareholder vote to approve the deal so the next thing we should see is a notice of meeting to call the meeting where the vote will take place.

Here are the milestones we want to see PNN start as soon as the acquisition is completed:

Objective 1: Target Generation on US rare earths project

We want to see PNN sample, map and run geophysics on its US asset to identify priority drill targets.

Milestones:

🔲 Mapping and sampling (soil and rock chips)

🔲 Geophysics

🔲 Drill targets confirmed

🔄Drilling at Brazilian rare earths project

After a recent announcement, we want to see PNN start the deeper RC drill program this month.

Here, we want to see PNN drill out and define a maiden JORC resource estimate in Brazil to enable comparison to peers.

Here are the milestones we are tracking on PNN’s Brazilian rare earths project:

Milestones:

🔲 Geophysics/Geochemistry work

🔄 Drilling starts

🔄 Drilling results

🔲 Maiden JORC resource estimate