As part of the agreement, Power Minerals will take advantage of the infrastructure, technical personnel and local network of the Brazilian EDEM to carry out an initial drilling campaign. This collaboration allows for reduced exploration costs, accessing preferential rates on laboratories and machinery hiring, assuming the value up to a third of the usual cost in the local market.
Progress on the niobium carbonatite project
Development will focus on critical critical minerals at Santa Anna, while EDEM will take care of the phosphate potential. In addition to the scheduled drilling, both parties will discuss joint development opportunities on other projects within the Brazilian mining company’s network.
In addition, Power Minerals initiated a due diligence phase after signing a binding letter of intent granting it an exclusive option on the project. A 2,000-meter reverse circulation(RC) drilling campaign is planned to confirm the potential of the deposit according to the 2012 JORC code criteria.
The Santa Anna project hosts a database of over 190 previous drill holes and zones that reveal continuous REE mineralization from surface to the end of the drill holes. There are extensive areas yet to be drilled, representing additional discovery opportunities, both at depth and in lateral zones of the alkali complex.
With this potential acquisition, Power is seeking to consolidate its position as a major player in clean energy metals exploration in South America. The operating experience of EDEM, which has already developed one of Brazil’s major bauxite mines, represents a key tactical advantage to accelerate work at Santa Anna.
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Source and photo: Power Minerals
