PNN General Discussion

I'm noticing that a lot of excellent posts are getting lost in the ether. Given the probable news flows incoming over the following weeks/months, I have created a main thread which hopefully means we can keep track of some of the great input.

Multiple Projects:

•SaltaLithium Brine Project

•EyrePeninsula Kaolin-Halloysite Project

•SantaInes Copper-Gold Project

•MusgraveNi-Cu-Co and PGE Project

Currently:

Salta Current drill campaign.
• Drilling at Incahuasi willcomprise two holes for a total 1,000m, and is designed to deliver a maiden JORCMineral Resource at this target, to add to our existing JORC.

• Following drilling at the Incahuasi Salar thedrill rig will move to the Pocitos and Rincon salares.

• The campaign is designed to deliver anupgrade to the Salta Project’s existing JORC Mineral Resource, to supportfuture development plans

• The Salta Project consists of sevenmining leases over a total area of 147.07km² that are on five salares.

First hole at Incahuasirecently completed and multiple, highly encouraging potential lithium brineaquifers of significant thickness intersected including: 191mthick sandy gravel unit(from 138 to 339m depth) hosting brine with visual medium to high drainableporosity, Halite unit from surface to 52m depth containing saturated brine withvisual medium to high drainable porosity. Power’s Incahuasi salar(salt lake) is located immediately adjacent to Ganfeng Lithium Co. Ltd’sproject.

Saturated & Porous. Lovely words.

It is of note, that (Jan ’22) Very high5.2% lithium content was achieved from evaporation test of blended brine. PNN delivered ‘very strong’ interimresults from a lithium brine blending study using brine from the company’sRincon and Salar de Incahuasiprojects in Argentina. PNN reports that after eight weeks oftesting, a lithium ion concentration of 8,500 mg/kg was achieved for theblended brine, which represents a level 14 times that of Incahuasibrine, and seven times that of Rincon brine.

https://www.asx.com.au/asxpdf/20220120/pdf/4554pk48dhtk78.pdf

For perspective, concentrate from Orocobre’s(ASX:ORE) Olarozproject, located 100km north, had previously achieved 7,000 mg/kg.

MOUs

PNN and Sunresin have entered into a MOU (04/22) as thefirst step in a proposed long-term collaborative partnership to utilise Sunresin’sproprietary Direct Lithium Extraction (DLE) technology for the potentialdevelopment of a commercial-scale lithium carbonate (LIC) producing operationat the Salta Project.

PNN has entered a non-binding MOU withXiamen Xiangyu New Energy, partof Xiamen Xiangyu Co,a Fortune-500 company listed on the Shanghai Stock Exchange. The China-basedcompany provides supply chain solutions for battery metals and sources thesupply of lithium, nickel and cobalt for battery and vehicle manufacturers.

The companies will conduct due diligenceon Power’s Salta lithium-brine project which lies within the Salta province inthe lithium triangle of north-west Argentina.

The companies may also pursuenegotiations with the aim of executing a binding offtake, funding and logisticsagreement.

As it stands today, bulk samples havebeen successfully tested and Xiamen are scheduled to conduct a site visit around about now.

MusgraveNi-Cu-Co and PGE Project

PowerMinerals Limited is undertaking exploration programs to target nickel-coppersulphide mineralisation and base metal mineralisation in the Musgrave Province,South Australia.

PNNholds 100% interest in granted and applied licenses covering a lazy 14,003 sq.kms of the Musgrave Province of South Australia.

In addition,Power Minerals is currently negotiating the extension to the Farm-in and JointVenture Agreement with Rio Tinto ExplorationPLcovering fivetenement applications totalling approximately 1,216 sq. kms.

Yesterday,

PNN has appointed of Mr DamienBarnes as Land Access General Manager. Mr Barnes will play a key role inbuilding and maintaining positive relationships with landowners and localcommunities on Power’s project areas, and in securing site access whererequired to allow Power to conduct its exploration activities. Bullish signal?

Lots of re-ratable newsflows to look forward to and real momentum is being achieved at the moment. Mena is bossing it.

Onwards