PNN to start deeper drilling on Brazilian rare earths project this month
Our rare earths Investment Power Minerals (ASX: PNN) announced more drilling results from its Brazilian rare earths project.
The results were from the ongoing shallow drilling - which PNN plans to follow up with deeper holes early in 2026.
Here are where those results came from:
(Source)
We covered the prior results from shallow drilling on the project in a previous Quick Take here.
Next, we want to see PNN start the first phase of its bigger 10,000m RC drill program ahead of a maiden resource estimate on the project in Q1-2026 (source).
One of the main reasons we like this project is because, IF PNN’s exploration model is proven correct, then the company holds the ground that covers the entire carbonatite complex.
(Source)
And our other Brazilian rare earths Investment St George Mining (ASX: SGQ) has re-rated by over over 400% this year (and was briefly up by 700%+ from our Initial Entry Price with its ownership of a portion of a larger complex:
(Source)
Over the last few months, PNN has completed several rounds of shallow aircore drilling on the project and recently said that its theory of a hard rock intrusion has been validated:
(Source)
PNN’s exploration model for the project is that its project covers a mineralised hard rock carbonatite - similar in terms of geology to the structures that host $17BN MP Materials’ project, $14BN Lynas Rare Earths core asset and another of our ASX small cap Investments, SGQ’s…
At this stage, we know there are rare earths in the shallow parts of PNN’s project.
Next we want to see PNN drill a few deeper holes and confirm that the rare earths extend at depth.
The deeper drilling will be what confirms PNN’s exploration model.
What’s next for PNN?
🔄Drilling at Brazilian rare earths project
We want to see PNN start deeper RC drilling this month.
We also 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
