Power Minerals has made significant strides with its Lítio Niobium Project in Brazil. After confirming the presence of a niobium-tantalum-rare earth elements (REEs) pegmatite intrusion through initial sampling, the company completed its acquisition from Ita Iron Mineracao. The acquisition involved a $30,000 payment, with further financial commitments of $300,000 in cash and $270,000 in shares, as per the binding heads of agreement signed in July.
The project, located in Paraiba State, includes three permits and is highly promising for niobium, REEs and lithium. Power Minerals has prioritized the northern section of the Lítio Project for exploration, following high-grade results from samples collected near the southern boundary. The next steps involve systematic mapping and sampling of pegmatites in the northern area to establish exploration priorities and guide future channel sampling and drilling.
Utilizing existing artisanal workings will also assist in identifying prospective exploration targets.
