Power Minerals (ASX:PNN) advanced an initial diamond drilling program at the Nióbio rare earth elements project in Brazil, according to a Tuesday filing with the Australian bourse.
The program began on Dec. 15, 2024, and it is planned to consist of up to 800 meters of diamond core drilling.
The completion of the program and results from the drilling are expected towards the end of the first quarter, the firm's managing director, Mena Habib said.
The program came after earlier sampling returned high-grade niobium, tantalum, and rare earth element results.
The firm also said that it would not proceed with its option to acquire the Tantalo rare earth elements project in Brazil, after completing due diligence.
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