# PNN: DEEPEST HIGH-GRADE REO AT MDF WITH 6.88% TREO AT 240m

Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25

Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03155637

Publisher: asx

Original announcement: 2026-10-21T22:40:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: 2026-10-21T23:23:59.469Z

Atlas analysis updated: 2026-10-21T23:23:59.469Z

- Company: Power Minerals Limited

- Ticker: PNN

- Exchange: ASX

- Region: Brazil

- Primary commodity: Rare earths

- Secondary commodities: Magnet rare earth oxides, Gallium, Thorium, Uranium

- Document categories: Drill results

- Extracted: 2026-10-21 23:24:00 UTC

Narrative sentiment: 0.90 · Bullish

## Minestarters Atlas summary

Power Minerals Limited has reported new high-grade rare earth oxide \(REO\) drill results from drillhole MFSR-054 at its Morro do Ferro Project in Brazil, including the deepest high-grade intersection to date of 2m at 6.88% TREO from 240m. The drilling also returned significant wide intercepts from surface, such as 50m at 9.0% TREO, extending mineralization to an impressive depth and providing crucial data for a planned maiden JORC Mineral Resource Estimate. The results confirm the continuation of high-grade REO mineralization and are supported by comprehensive QA/QC protocols.

Reasoning: The announcement reports new, high-grade rare earth oxide \(REO\) drill results from the Morro do Ferro Project, including the deepest high-grade intersection to date. These results extend known mineralization at depth and from surface, providing critical data for an upcoming maiden Mineral Resource Estimate. The grades are exceptional compared to industry peers, and the program is supported by robust QA/QC and JORC compliance, indicating high materiality and novelty despite the lack of true width disclosure.

- Positive factor: Deepest high-grade REE intersection to date \(6.88% TREO at 240m\) extends mineralization at depth.

- Positive factor: Significant wide intercepts of high-grade TREO \(e.g., 50m at 9.0% TREO\) from surface.

- Positive factor: Mineralization confirmed to an impressive depth of 190m and beyond, supporting a maiden JORC MRE.

- Positive factor: Detailed QA/QC procedures and JORC compliance enhance data credibility.

- Positive factor: Grades are significantly higher than peer comparison averages.

- Negative factor: True width not known for reported downhole lengths.

- Negative factor: Aggregated intervals reported without explicit cut-off grades.

Facts used in scoring: 53

## Classification and evidence

**Bonanza Intercept**

Polarity: positive

Definition: Exceptionally high-grade zone, well above the deposit-type norm.

Why it applies: The intercept of 50m at 9.0% TREO is an exceptionally high-grade zone, well above the deposit-type norm and project average.

Evidence · text

> 50m at 9.0% TREO

**Bonanza Intercept**

Polarity: positive

Definition: Exceptionally high-grade zone, well above the deposit-type norm.

Why it applies: The intercept of 2m at 6.88% TREO is an exceptionally high-grade zone, well above the deposit-type norm and project average, especially given its depth.

Evidence · text

> 2m at 6.88% TREO

**Step-Out Extension**

Polarity: positive

Definition: Mineralization extended beyond the previously known limit.

Why it applies: The release highlights the deepest and highest-grade REE intersections to date, extending mineralization at depth.

Evidence · text

> Deepest and highest-grade REE intersections to date at Morro do Ferro returned in drillhole MFSR-054

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: The release includes detailed QA/QC disclosure, including certified lab, QP sign-off, and stated methods \(blanks, standards, duplicates\).

Evidence · text

> The geochemical results for the drillholes were analysed using methods ICP95A and IMS95A. These analyses involved crushing and pulverising to 95% <150\#, then lithium metaborate fusion followed by ICP-OES/MS to determine the whole-rock concentration of 48 major oxides and trace elements \(including LOI by PHY01E\). Samples with concentrations of REO and Th above the method detection limit were re-analysed using the SGS Geosol method IMS95RS. If niobium by method IMS95A is above the upper limit of 0.1% Nb, then the method ICP95A is used for Nb. Due to the doubly charged interferences between gallium and elevated LREE, SGS Geosol does not report Ga analyses by ICP-MS if Ce is over 1000ppm. The lithium borate fusion method ensures a complete breakdown of samples, even those containing the most resilient acid-resistant minerals. This technique is deemed suitable for analysing REO from the Morro do Ferro Project. The table below lists the general elements measured by the SGS methods along with their corresponding detection limits:\(17.1\) ICP95A Determination by Fusion with Lithium Metaborate - ICP OES Al2O3 0.01 - 75 \(%\) Ba 10 - 100000 \(ppm\) CaO 0.01 - 60 \(%\) Cr2O3 0.01 - 10 \(%\) Fe2O3 0.01 - 75 \(%\) K2O 0.01 - 25 \(%\) MgO 0.01 - 30 \(%\) MnO 0.01 - 10 \(%\) Na2O 0.01 - 30 \(%\) P2O5 0.01 - 25 \(%\) SiO2 0.01 - 90 \(%\) Sr 10 - 100000 \(ppm\) TiO2 0.01 - 25 \(%\) V 5 - 10000 \(ppm\) Zn 5 - 10000 \(ppm\) Zr 11 - 100000 \(ppm\) Determination by Fusion with Lithium Metaborate - ICP MS Ce 0.1 - 10000 \(ppm\) Co 0.5 - 10000 \(ppm\) Cs 0.05 - 1000 \(ppm\) Cu 5 - 10000 \(ppm\) Dy 0.05 - 1000 \(ppm\) Er 0.05 - 1000 \(ppm\) Eu 0.05 - 1000 \(ppm\) Ga 0.1 - 10000 \(ppm\) Gd 0.05 - 1000 \(ppm\) Hf 0.05 - 500 \(ppm\) Ho 0.05 - 1000 \(ppm\) La 0.1 - 10000 \(ppm\) Lu 0.05 - 1000 \(ppm\) Mo 2 - 10000 \(ppm\) Nb 0.05 - 1000 \(ppm\) Nd 0.1 - 10000 \(ppm\) Ni 5 - 10000 \(ppm\) Pr 0.5 - 10000 \(ppm\) Rb 0.2 - 10000 \(ppm\) Sm 0.1 - 10000 \(ppm\) Sn 0.3 - 1000 \(ppm\) Ta 0.5 - 10000 \(ppm\) Tb 0.05 - 1000 \(ppm\) Th 0.1 - 10000 \(ppm\) Ti 0.05 - 1000 \(ppm\) Tm 0.5 - 1000 \(ppm\) U 0.05 - 1000 \(ppm\) W 0.1 - 10000 \(ppm\) Y 0.05 - 10000 \(ppm\) Yb 0.1 - 1000 \(ppm\) \(17.3\) PHY01E LOI -45 - 100 \(%\) Determination of Loss on Ignition \(LOI\) by Gravimetric Method -1000°C Loss on ignition \(LOI\) - Loss on ignition by calcination of the sample at 1000°C \(17.2\) IMS95A The four laboratory batches included six blind blanks \(three were CRM\), nine blind duplicate samples and nine OREAS certified standards. There are also nine laboratory repeat or duplicate analyses by SGS Geosol. All QC results were well within acceptable limits.

**QP/CP Signed**

Polarity: positive

Story-specific tag

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: Steven Cooper, FAusIMM, Global Exploration Manager, is named as the Competent Person responsible for the exploration results.

Evidence · text

> Steven Cooper, FAusIMM \(No. 108265\), FGS \(No. 1030687\). Mr Cooper is the Global Exploration Manager and is a full-time employee of the Company. Mr Cooper has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Cooper consents to the inclusion in the announcement of the matters based on his information in the form and context in which it appears.

**Apparent Width Only**

Polarity: negative

Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness.

Why it applies: The release explicitly states that reported widths are downhole and may not represent true width.

Evidence · text

> widths are downhole and may not represent true width.

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: The aggregated intervals are reported as weighted averages with no explicit cut-off grades stated.

Evidence · text

> Weighted averages of all samples across the reported length, with no cut-off unless stated otherwise

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: The release mentions potential issues with gallium interference and discusses thorium and uranium concentrations, noting the project is in a 'Medium Risk Category' for NORM activity.

Evidence · text

> Due to the doubly charged interferences between gallium and elevated LREE, SGS Geosol does not report Ga analyses by ICP-MS if Ce is over 1000ppm. ... The calculated activity value, including all decay products during the mining process, is an average of 94 Bq/g, with a peak of 377 Bq/g \(conservative scenario of 2 standard deviations\) applied to account for high NORM activity concentrations within the active mining zone. These calculated values by SA Radiation confirm that Morro do Ferro is within the Brazilian NNEC Medium Risk Category II \(100 to 500 Bq/g\), and not in the high-risk Category I \(>500 Bq/g\).

## Extracted facts

Stored fact records: 53. Some facts used in scoring do not have a stored record.

## Drill Results (53)

### MFSR-054

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-0)

Morro do Ferro · rare\_earths

#### Identity

- Hole ID: MFSR-054
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 6.33
- Grade Unit: %
- Intercept: 88 m
- From: 0 m
- To: 88 m
- Hole Depth: 253.55 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-054:0-88
- Mining Method: open\_pit

#### Location

- Easting: 341805
- Northing: 7575870
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1512.1 m
- Azimuth: 45 °
- Dip: -50 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This intercept shows exceptional grade over a significant width from surface, contributing positively to the project's resource potential and supporting the upcoming maiden MRE.

- Positive factor: Exceptional grade \(6.33% TREO\) for rare earths, well above peer average.

- Positive factor: Significant continuous intercept length \(88m\) from surface.

- Positive factor: Contributes to maiden JORC MRE.

- Negative factor: True width not stated.

Evidence · text

> 88m at 6.33% TREO with 1.19% MREO in whole rock from surface

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

### MFSR-054

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-1)

Morro do Ferro · magnet\_rare\_earth\_oxides

#### Identity

- Hole ID: MFSR-054
- Project: Morro do Ferro
- Commodity: magnet\_rare\_earth\_oxides
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 1.19
- Grade Unit: %
- Intercept: 88 m
- From: 0 m
- To: 88 m
- Hole Depth: 253.55 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-054:0-88
- Mining Method: open\_pit

#### Location

- Easting: 341805
- Northing: 7575870
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1512.1 m
- Azimuth: 45 °
- Dip: -50 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This MREO intercept is wide and from surface, which is positive, but the grade is slightly below the project's historical average for MREO, making it moderately positive.

- Positive factor: Significant continuous intercept length \(88m\) from surface.

- Positive factor: MREO is a high-value component of rare earths.

- Positive factor: Contributes to maiden JORC MRE.

- Negative factor: Grade \(1.19% MREO\) is below the project's average for MREO \(1.646%\).

- Negative factor: True width not stated.

Evidence · text

> 88m at 6.33% TREO with 1.19% MREO in whole rock from surface

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

### MFSR-054

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-2)

Morro do Ferro · rare\_earths

#### Identity

- Hole ID: MFSR-054
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 9
- Grade Unit: %
- Intercept: 50 m
- From: 0 m
- To: 50 m
- Hole Depth: 253.55 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-054:0-50
- Mining Method: open\_pit

#### Location

- Easting: 341805
- Northing: 7575870
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1512.1 m
- Azimuth: 45 °
- Dip: -50 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This sub-interval shows exceptional grade over a significant width from surface, representing a very strong result for the project and supporting the upcoming maiden MRE.

- Positive factor: Exceptional grade \(9.0% TREO\) for rare earths, well above peer average and project average.

- Positive factor: Significant continuous intercept length \(50m\) from surface.

- Positive factor: Contributes to maiden JORC MRE.

- Negative factor: True width not stated.

Evidence · text

> 50m at 9.0% TREO with 1.56% MREO from surface

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

### MFSR-054

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-3)

Morro do Ferro · magnet\_rare\_earth\_oxides

#### Identity

- Hole ID: MFSR-054
- Project: Morro do Ferro
- Commodity: magnet\_rare\_earth\_oxides
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 1.56
- Grade Unit: %
- Intercept: 50 m
- From: 0 m
- To: 50 m
- Hole Depth: 253.55 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-054:0-50
- Mining Method: open\_pit

#### Location

- Easting: 341805
- Northing: 7575870
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1512.1 m
- Azimuth: 45 °
- Dip: -50 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This MREO intercept is wide and from surface with a grade near the project average, making it a strong positive result for the project.

- Positive factor: Significant continuous intercept length \(50m\) from surface.

- Positive factor: MREO is a high-value component of rare earths.

- Positive factor: Grade \(1.56% MREO\) is close to the project's average for MREO \(1.646%\).

- Positive factor: Contributes to maiden JORC MRE.

- Negative factor: True width not stated.

Evidence · text

> 50m at 9.0% TREO with 1.56% MREO from surface

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

### MFSR-054

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-4)

Morro do Ferro · rare\_earths

#### Identity

- Hole ID: MFSR-054
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 1.06
- Grade Unit: %
- Intercept: 93 m
- From: 88 m
- To: 181 m
- Hole Depth: 253.55 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-054:88-181
- Mining Method: open\_pit

#### Location

- Easting: 341805
- Northing: 7575870
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1512.1 m
- Azimuth: 45 °
- Dip: -50 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This wide intercept, while below the project's average grade, still represents a moderate grade over a significant length, contributing to the overall understanding of the mineralization.

- Positive factor: Significant continuous intercept length \(93m\).

- Positive factor: Grade \(1.06% TREO\) is above the weak threshold for rare earths.

- Positive factor: Contributes to maiden JORC MRE.

- Negative factor: Grade is below the project's average for TREO \(6.375%\).

- Negative factor: True width not stated.

Evidence · text

> 93m at 1.06% TREO with 0.23% MREO from 88m

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

### MFSR-054

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-5)

Morro do Ferro · magnet\_rare\_earth\_oxides

#### Identity

- Hole ID: MFSR-054
- Project: Morro do Ferro
- Commodity: magnet\_rare\_earth\_oxides
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 0.23
- Grade Unit: %
- Intercept: 93 m
- From: 88 m
- To: 181 m
- Hole Depth: 253.55 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-054:88-181
- Mining Method: open\_pit

#### Location

- Easting: 341805
- Northing: 7575870
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1512.1 m
- Azimuth: 45 °
- Dip: -50 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This wide intercept contains low MREO grades, which is less impactful but still contributes to understanding the overall mineralization footprint.

- Positive factor: Significant continuous intercept length \(93m\).

- Positive factor: Contributes to maiden JORC MRE.

- Negative factor: Grade \(0.23% MREO\) is below the weak threshold for rare earths and project average.

- Negative factor: True width not stated.

Evidence · text

> 93m at 1.06% TREO with 0.23% MREO from 88m

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

### MFSR-054

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-6)

Morro do Ferro · rare\_earths

#### Identity

- Hole ID: MFSR-054
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 2.78
- Grade Unit: %
- Intercept: 9 m
- From: 181 m
- To: 190 m
- Hole Depth: 253.55 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-054:181-190
- Mining Method: open\_pit

#### Location

- Easting: 341805
- Northing: 7575870
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1512.1 m
- Azimuth: 45 °
- Dip: -50 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This intercept shows a strong grade at depth, which is positive for extending the known mineralization and supporting the maiden MRE.

- Positive factor: Strong grade \(2.78% TREO\) for rare earths, above the strong threshold.

- Positive factor: Located at a significant depth \(181m\), extending mineralization.

- Positive factor: Contributes to maiden JORC MRE.

- Negative factor: True width not stated.

Evidence · text

> 9m at 2.78% TREO with 0.72% MREO from 181m

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

### MFSR-054

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-7)

Morro do Ferro · magnet\_rare\_earth\_oxides

#### Identity

- Hole ID: MFSR-054
- Project: Morro do Ferro
- Commodity: magnet\_rare\_earth\_oxides
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 0.72
- Grade Unit: %
- Intercept: 9 m
- From: 181 m
- To: 190 m
- Hole Depth: 253.55 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-054:181-190
- Mining Method: open\_pit

#### Location

- Easting: 341805
- Northing: 7575870
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1512.1 m
- Azimuth: 45 °
- Dip: -50 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This MREO intercept at depth is positive for extending mineralization, but the grade is below the project average, making it a moderately positive result.

- Positive factor: Located at a significant depth \(181m\), extending mineralization.

- Positive factor: MREO is a high-value component of rare earths.

- Positive factor: Contributes to maiden JORC MRE.

- Negative factor: Grade \(0.72% MREO\) is below the project's average for MREO \(1.646%\).

- Negative factor: True width not stated.

Evidence · text

> 9m at 2.78% TREO with 0.72% MREO from 181m

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

### MFSR-054

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-8)

Morro do Ferro · rare\_earths

#### Identity

- Hole ID: MFSR-054
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 1.38
- Grade Unit: %
- Intercept: 19.8 m
- From: 222.2 m
- To: 242 m
- Hole Depth: 253.55 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-054:222.2-242
- Mining Method: open\_pit

#### Location

- Easting: 341805
- Northing: 7575870
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1512.1 m
- Azimuth: 45 °
- Dip: -50 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This intercept at significant depth is positive for extending mineralization, but the grade is below the project average, making it a moderately positive result.

- Positive factor: Located at a significant depth \(222.2m\), extending mineralization.

- Positive factor: Grade \(1.38% TREO\) is above the weak threshold for rare earths.

- Positive factor: Contributes to maiden JORC MRE.

- Negative factor: Grade is below the project's average for TREO \(6.375%\).

- Negative factor: True width not stated.

Evidence · text

> 19.8m at 1.38% TREO with 0.23% MREO from 222.2m

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

### MFSR-054

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-9)

Morro do Ferro · magnet\_rare\_earth\_oxides

#### Identity

- Hole ID: MFSR-054
- Project: Morro do Ferro
- Commodity: magnet\_rare\_earth\_oxides
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 0.23
- Grade Unit: %
- Intercept: 19.8 m
- From: 222.2 m
- To: 242 m
- Hole Depth: 253.55 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-054:222.2-242
- Mining Method: open\_pit

#### Location

- Easting: 341805
- Northing: 7575870
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1512.1 m
- Azimuth: 45 °
- Dip: -50 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This MREO intercept at depth is positive for extending mineralization, but the grade is low, making it a moderately positive result.

- Positive factor: Located at a significant depth \(222.2m\), extending mineralization.

- Positive factor: MREO is a high-value component of rare earths.

- Positive factor: Contributes to maiden JORC MRE.

- Negative factor: Grade \(0.23% MREO\) is below the weak threshold for rare earths and project average.

- Negative factor: True width not stated.

Evidence · text

> 19.8m at 1.38% TREO with 0.23% MREO from 222.2m

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

### MFSR-054

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-10)

Morro do Ferro · rare\_earths

#### Identity

- Hole ID: MFSR-054
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 6.88
- Grade Unit: %
- Intercept: 2 m
- From: 240 m
- To: 242 m
- Hole Depth: 253.55 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-054:240-242
- Mining Method: open\_pit

#### Location

- Easting: 341805
- Northing: 7575870
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1512.1 m
- Azimuth: 45 °
- Dip: -50 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This intercept represents the deepest high-grade REE intersection to date, which is highly novel and material for extending the project's mineralization at depth, despite its narrow width.

- Positive factor: Exceptional grade \(6.88% TREO\) for rare earths, well above peer average and project average.

- Positive factor: Deepest high-grade REE intersection to date, extending mineralization significantly at depth.

- Positive factor: Contributes to maiden JORC MRE.

- Negative factor: Narrow intercept length \(2m\).

- Negative factor: True width not stated.

Evidence · text

> 2m at 6.88% TREO with 1.07% MREO from 240m

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

### MFSR-054

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-11)

Morro do Ferro · magnet\_rare\_earth\_oxides

#### Identity

- Hole ID: MFSR-054
- Project: Morro do Ferro
- Commodity: magnet\_rare\_earth\_oxides
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 1.07
- Grade Unit: %
- Intercept: 2 m
- From: 240 m
- To: 242 m
- Hole Depth: 253.55 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-054:240-242
- Mining Method: open\_pit

#### Location

- Easting: 341805
- Northing: 7575870
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1512.1 m
- Azimuth: 45 °
- Dip: -50 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This MREO intercept is part of the deepest high-grade REE intersection, making it highly novel and material for extending the project's mineralization at depth, despite its narrow width and slightly lower grade than project average.

- Positive factor: Deepest high-grade REE intersection to date, extending mineralization significantly at depth.

- Positive factor: MREO is a high-value component of rare earths.

- Positive factor: Contributes to maiden JORC MRE.

- Negative factor: Grade \(1.07% MREO\) is below the project's average for MREO \(1.646%\).

- Negative factor: Narrow intercept length \(2m\).

- Negative factor: True width not stated.

Evidence · text

> 2m at 6.88% TREO with 1.07% MREO from 240m

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

### MFSR-054

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-12)

Morro do Ferro · rare\_earths

#### Identity

- Hole ID: MFSR-054
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 0.45
- Grade Unit: %
- Intercept: 32.2 m
- From: 190 m
- To: 222.2 m
- Hole Depth: 253.55 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-054:190-222.2
- Mining Method: open\_pit

#### Location

- Easting: 341805
- Northing: 7575870
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1512.1 m
- Azimuth: 45 °
- Dip: -50 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This intercept shows moderate grade over a good width at depth, indicating continuous mineralization between higher-grade zones, which is positive for resource modeling.

- Positive factor: Significant continuous intercept length \(32.2m\) at depth.

- Positive factor: Grade \(0.45% TREO\) is above the weak threshold for rare earths.

- Positive factor: Contributes to maiden JORC MRE.

- Negative factor: Grade is below the project's average for TREO \(6.375%\).

- Negative factor: True width not stated.

Evidence · text

> 32.2m at 0.45% TREO from 190 metres

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

### MFSR-054

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-13)

Morro do Ferro · rare\_earths

#### Identity

- Hole ID: MFSR-054
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 1.12
- Grade Unit: %
- Intercept: 2 m
- From: 209 m
- To: 211 m
- Hole Depth: 253.55 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-054:209-211
- Mining Method: open\_pit

#### Location

- Easting: 341805
- Northing: 7575870
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1512.1 m
- Azimuth: 45 °
- Dip: -50 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This narrow intercept shows a moderate grade at depth, indicating localized higher-grade zones within broader mineralization, which is positive for resource modeling.

- Positive factor: Grade \(1.12% TREO\) is above the moderate threshold for rare earths.

- Positive factor: Located at a significant depth \(209m\).

- Positive factor: Contributes to maiden JORC MRE.

- Negative factor: Grade is below the project's average for TREO \(6.375%\).

- Negative factor: Narrow intercept length \(2m\).

- Negative factor: True width not stated.

Evidence · text

> 2m at 1.12% TREO from 209m downhole

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

### MFSR-054

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-14)

Morro do Ferro · rare\_earths

#### Identity

- Hole ID: MFSR-054
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 12.05
- Grade Unit: %
- Intercept: 20 m
- From: 18 m
- To: 38 m
- Hole Depth: 253.55 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-054:18-38
- Mining Method: open\_pit

#### Location

- Easting: 341805
- Northing: 7575870
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1512.1 m
- Azimuth: 45 °
- Dip: -50 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This intercept shows exceptional grade over a significant width from shallow depth, representing a very strong result for the project and supporting the upcoming maiden MRE.

- Positive factor: Exceptional grade \(12.05% TREO\) for rare earths, well above peer average and project average.

- Positive factor: Significant continuous intercept length \(20m\) from shallow depth.

- Positive factor: Contributes to maiden JORC MRE.

- Negative factor: True width not stated.

Evidence · table

> 12.05

Context: 20

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

### MFSR-057

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-15)

Morro do Ferro · rare\_earths

Historical result

Needs review: historical\_restatement

#### Identity

- Hole ID: MFSR-057
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 8.25
- Grade Unit: %
- Intercept: 111 m
- From: 0 m
- To: 111 m
- Hole Depth: 170.5 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-057:0-111
- Mining Method: open\_pit

#### Location

- Easting: 341815
- Northing: 7575923
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1524.5 m
- Azimuth: 225 °
- Dip: -60 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2026-10-19T00:00:00.000Z

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This historical intercept shows exceptional grade over a very significant width from surface, indicating strong mineralization, but it is not new information.

- Positive factor: Exceptional grade \(8.25% TREO\) for rare earths, well above peer average and project average.

- Positive factor: Very significant continuous intercept length \(111m\) from surface.

- Negative factor: Historical result, not new information.

- Negative factor: True width not stated.

Evidence · table

> 8.25

Context: 111

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

**Stale Data Re-release**

Polarity: negative

Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

### MFSR-057

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-16)

Morro do Ferro · rare\_earths

Historical result

Needs review: historical\_restatement

#### Identity

- Hole ID: MFSR-057
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 15.42
- Grade Unit: %
- Intercept: 51 m
- From: 24 m
- To: 75 m
- Hole Depth: 170.5 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-057:24-75
- Mining Method: open\_pit

#### Location

- Easting: 341815
- Northing: 7575923
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1524.5 m
- Azimuth: 225 °
- Dip: -60 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2026-10-19T00:00:00.000Z

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This historical sub-interval shows exceptional grade over a significant width, indicating very strong mineralization, but it is not new information.

- Positive factor: Exceptional grade \(15.42% TREO\) for rare earths, well above peer average and project average.

- Positive factor: Significant continuous intercept length \(51m\).

- Negative factor: Historical result, not new information.

- Negative factor: True width not stated.

Evidence · table

> 15.42

Context: 51

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

**Stale Data Re-release**

Polarity: negative

Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

### MFSR-057

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-17)

Morro do Ferro · rare\_earths

Historical result

Needs review: historical\_restatement

#### Identity

- Hole ID: MFSR-057
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 20.4
- Grade Unit: %
- Intercept: 15 m
- From: 42 m
- To: 57 m
- Hole Depth: 170.5 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-057:42-57
- Mining Method: open\_pit

#### Location

- Easting: 341815
- Northing: 7575923
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1524.5 m
- Azimuth: 225 °
- Dip: -60 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2026-10-19T00:00:00.000Z

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This historical sub-interval shows exceptional grade over a moderate width, indicating very strong mineralization, but it is not new information.

- Positive factor: Exceptional grade \(20.4% TREO\) for rare earths, well above peer average and project average.

- Positive factor: Moderate continuous intercept length \(15m\).

- Negative factor: Historical result, not new information.

- Negative factor: True width not stated.

Evidence · table

> 20.4

Context: 15

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

**Stale Data Re-release**

Polarity: negative

Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

### MFSR-057

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-18)

Morro do Ferro · rare\_earths

Historical result

Needs review: historical\_restatement

#### Identity

- Hole ID: MFSR-057
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 40.5
- Grade Unit: %
- Intercept: 1.2 m
- From: 42 m
- To: 43.2 m
- Hole Depth: 170.5 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-057:42-43.2
- Mining Method: open\_pit

#### Location

- Easting: 341815
- Northing: 7575923
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1524.5 m
- Azimuth: 225 °
- Dip: -60 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2026-10-19T00:00:00.000Z

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This historical sub-interval shows bonanza grade, indicating extremely high-grade mineralization, but it is not new information and is very narrow.

- Positive factor: Bonanza grade \(40.5% TREO\) for rare earths, significantly above peer average and project average.

- Negative factor: Historical result, not new information.

- Negative factor: Narrow intercept length \(1.2m\).

- Negative factor: True width not stated.

Evidence · table

> 40.5

Context: 1.2

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

**Stale Data Re-release**

Polarity: negative

Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

### MFSR-056

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-19)

Morro do Ferro · rare\_earths

Historical result

Needs review: historical\_restatement

#### Identity

- Hole ID: MFSR-056
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 4.94
- Grade Unit: %
- Intercept: 119 m
- From: 0 m
- To: 119 m
- Hole Depth: 202.2 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-056:0-119
- Mining Method: open\_pit

#### Location

- Easting: 341816
- Northing: 7575970
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1534.7 m
- Azimuth: 225 °
- Dip: -60 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2026-10-19T00:00:00.000Z

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This historical intercept shows strong grade over a very significant width from surface, indicating strong mineralization, but it is not new information.

- Positive factor: Strong grade \(4.94% TREO\) for rare earths, above the strong threshold.

- Positive factor: Very significant continuous intercept length \(119m\) from surface.

- Negative factor: Historical result, not new information.

- Negative factor: True width not stated.

Evidence · table

> 4.94

Context: 119

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

**Stale Data Re-release**

Polarity: negative

Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

### MFSR-056

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-20)

Morro do Ferro · rare\_earths

Historical result

Needs review: historical\_restatement

#### Identity

- Hole ID: MFSR-056
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 12.31
- Grade Unit: %
- Intercept: 10 m
- From: 41 m
- To: 51 m
- Hole Depth: 202.2 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-056:41-51
- Mining Method: open\_pit

#### Location

- Easting: 341816
- Northing: 7575970
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1534.7 m
- Azimuth: 225 °
- Dip: -60 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2026-10-19T00:00:00.000Z

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This historical sub-interval shows exceptional grade over a moderate width, indicating very strong mineralization, but it is not new information.

- Positive factor: Exceptional grade \(12.31% TREO\) for rare earths, well above peer average and project average.

- Positive factor: Moderate continuous intercept length \(10m\).

- Negative factor: Historical result, not new information.

- Negative factor: True width not stated.

Evidence · table

> 12.31

Context: 10

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

**Stale Data Re-release**

Polarity: negative

Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

### MFSR-055

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-21)

Morro do Ferro · rare\_earths

Historical result

Needs review: historical\_restatement

#### Identity

- Hole ID: MFSR-055
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 7.72
- Grade Unit: %
- Intercept: 91 m
- From: 0 m
- To: 91 m
- Hole Depth: 153.7 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-055:0-91
- Mining Method: open\_pit

#### Location

- Easting: 341844
- Northing: 7575890
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1513.7 m
- Azimuth: 225 °
- Dip: -60 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2026-10-19T00:00:00.000Z

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This historical intercept shows exceptional grade over a significant width from surface, indicating strong mineralization, but it is not new information.

- Positive factor: Exceptional grade \(7.72% TREO\) for rare earths, well above peer average and project average.

- Positive factor: Significant continuous intercept length \(91m\) from surface.

- Negative factor: Historical result, not new information.

- Negative factor: True width not stated.

Evidence · table

> 7.72

Context: 91

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

**Stale Data Re-release**

Polarity: negative

Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

### MFSR-055

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-22)

Morro do Ferro · rare\_earths

Historical result

Needs review: historical\_restatement

#### Identity

- Hole ID: MFSR-055
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 17.52
- Grade Unit: %
- Intercept: 23.1 m
- From: 13 m
- To: 36.1 m
- Hole Depth: 153.7 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-055:13-36.1
- Mining Method: open\_pit

#### Location

- Easting: 341844
- Northing: 7575890
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1513.7 m
- Azimuth: 225 °
- Dip: -60 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2026-10-19T00:00:00.000Z

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This historical sub-interval shows exceptional grade over a strong width, indicating very strong mineralization, but it is not new information.

- Positive factor: Exceptional grade \(17.52% TREO\) for rare earths, well above peer average and project average.

- Positive factor: Strong continuous intercept length \(23.1m\).

- Negative factor: Historical result, not new information.

- Negative factor: True width not stated.

Evidence · table

> 17.52

Context: 23.1

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

**Stale Data Re-release**

Polarity: negative

Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

### MFSR-055

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-23)

Morro do Ferro · rare\_earths

Historical result

Needs review: historical\_restatement

#### Identity

- Hole ID: MFSR-055
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 22.6
- Grade Unit: %
- Intercept: 2 m
- From: 25 m
- To: 27 m
- Hole Depth: 153.7 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-055:25-27
- Mining Method: open\_pit

#### Location

- Easting: 341844
- Northing: 7575890
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1513.7 m
- Azimuth: 225 °
- Dip: -60 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2026-10-19T00:00:00.000Z

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This historical sub-interval shows exceptional grade, indicating very strong mineralization, but it is not new information and is very narrow.

- Positive factor: Exceptional grade \(22.6% TREO\) for rare earths, well above peer average and project average.

- Negative factor: Historical result, not new information.

- Negative factor: Narrow intercept length \(2m\).

- Negative factor: True width not stated.

Evidence · table

> 22.6

Context: 2

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

**Stale Data Re-release**

Polarity: negative

Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

### MFSR-053

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-24)

Morro do Ferro · rare\_earths

Historical result

Needs review: historical\_restatement

#### Identity

- Hole ID: MFSR-053
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 4.15
- Grade Unit: %
- Intercept: 108.55 m
- From: 0 m
- To: 108.55 m
- Hole Depth: 209.55 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-053:0-108.55
- Mining Method: open\_pit

#### Location

- Easting: 341834
- Northing: 7575904
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1518.7 m
- Azimuth: 0 °
- Dip: -90 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2026-10-19T00:00:00.000Z

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This historical intercept shows strong grade over a very significant width from surface, indicating strong mineralization, but it is not new information.

- Positive factor: Strong grade \(4.15% TREO\) for rare earths, above the strong threshold.

- Positive factor: Very significant continuous intercept length \(108.55m\) from surface.

- Negative factor: Historical result, not new information.

- Negative factor: True width not stated.

Evidence · table

> 4.15

Context: 108.55\*

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

**Stale Data Re-release**

Polarity: negative

Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

### MFSR-053

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-25)

Morro do Ferro · rare\_earths

Historical result

Needs review: historical\_restatement

#### Identity

- Hole ID: MFSR-053
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 9.01
- Grade Unit: %
- Intercept: 29.25 m
- From: 0 m
- To: 29.25 m
- Hole Depth: 209.55 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-053:0-29.25
- Mining Method: open\_pit

#### Location

- Easting: 341834
- Northing: 7575904
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1518.7 m
- Azimuth: 0 °
- Dip: -90 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2026-10-19T00:00:00.000Z

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This historical sub-interval shows exceptional grade over a strong width from surface, indicating very strong mineralization, but it is not new information.

- Positive factor: Exceptional grade \(9.01% TREO\) for rare earths, well above peer average and project average.

- Positive factor: Strong continuous intercept length \(29.25m\) from surface.

- Negative factor: Historical result, not new information.

- Negative factor: True width not stated.

Evidence · table

> 9.01

Context: 29.25\*

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

**Stale Data Re-release**

Polarity: negative

Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

### MFSR-053

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-26)

Morro do Ferro · rare\_earths

Historical result

Needs review: historical\_restatement

#### Identity

- Hole ID: MFSR-053
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 9.34
- Grade Unit: %
- Intercept: 6.45 m
- From: 69.55 m
- To: 76 m
- Hole Depth: 209.55 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-053:69.55-76
- Mining Method: open\_pit

#### Location

- Easting: 341834
- Northing: 7575904
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1518.7 m
- Azimuth: 0 °
- Dip: -90 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2026-10-19T00:00:00.000Z

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This historical sub-interval shows exceptional grade over a moderate width, indicating very strong mineralization, but it is not new information.

- Positive factor: Exceptional grade \(9.34% TREO\) for rare earths, well above peer average and project average.

- Positive factor: Moderate continuous intercept length \(6.45m\).

- Negative factor: Historical result, not new information.

- Negative factor: True width not stated.

Evidence · table

> 9.34

Context: 6.45

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

**Stale Data Re-release**

Polarity: negative

Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

### MFSR-053

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-27)

Morro do Ferro · rare\_earths

Historical result

Needs review: historical\_restatement

#### Identity

- Hole ID: MFSR-053
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 17.98
- Grade Unit: %
- Intercept: 2 m
- From: 12 m
- To: 14 m
- Hole Depth: 209.55 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-053:12-14
- Mining Method: open\_pit

#### Location

- Easting: 341834
- Northing: 7575904
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1518.7 m
- Azimuth: 0 °
- Dip: -90 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2026-10-19T00:00:00.000Z

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This historical sub-interval shows exceptional grade, indicating very strong mineralization, but it is not new information and is very narrow.

- Positive factor: Exceptional grade \(17.98% TREO\) for rare earths, well above peer average and project average.

- Negative factor: Historical result, not new information.

- Negative factor: Narrow intercept length \(2m\).

- Negative factor: True width not stated.

Evidence · table

> 17.98

Context: 2

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

**Stale Data Re-release**

Polarity: negative

Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

### MFSR-052

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-28)

Morro do Ferro · rare\_earths

Historical result

Needs review: historical\_restatement

#### Identity

- Hole ID: MFSR-052
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 4.31
- Grade Unit: %
- Intercept: 137 m
- From: 0 m
- To: 137 m
- Hole Depth: 173.3 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-052:0-137
- Mining Method: open\_pit

#### Location

- Easting: 341820
- Northing: 7575892
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1517.9 m
- Azimuth: 225 °
- Dip: -60 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2026-10-19T00:00:00.000Z

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This historical intercept shows strong grade over a very significant width from surface, indicating strong mineralization, but it is not new information.

- Positive factor: Strong grade \(4.31% TREO\) for rare earths, above the strong threshold.

- Positive factor: Very significant continuous intercept length \(137m\) from surface.

- Negative factor: Historical result, not new information.

- Negative factor: True width not stated.

Evidence · table

> 4.31

Context: 137

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

**Stale Data Re-release**

Polarity: negative

Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

### MFSR-052

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-29)

Morro do Ferro · rare\_earths

Historical result

Needs review: historical\_restatement

#### Identity

- Hole ID: MFSR-052
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 5.45
- Grade Unit: %
- Intercept: 105 m
- From: 0 m
- To: 105 m
- Hole Depth: 173.3 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-052:0-105
- Mining Method: open\_pit

#### Location

- Easting: 341820
- Northing: 7575892
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1517.9 m
- Azimuth: 225 °
- Dip: -60 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2026-10-19T00:00:00.000Z

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This historical sub-interval shows exceptional grade over a very significant width from surface, indicating strong mineralization, but it is not new information.

- Positive factor: Exceptional grade \(5.45% TREO\) for rare earths, well above peer average and project average.

- Positive factor: Very significant continuous intercept length \(105m\) from surface.

- Negative factor: Historical result, not new information.

- Negative factor: True width not stated.

Evidence · table

> 5.45

Context: 105

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

**Stale Data Re-release**

Polarity: negative

Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

### MFSR-052

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-30)

Morro do Ferro · rare\_earths

Historical result

Needs review: historical\_restatement

#### Identity

- Hole ID: MFSR-052
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 9.87
- Grade Unit: %
- Intercept: 53 m
- From: 0 m
- To: 53 m
- Hole Depth: 173.3 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-052:0-53
- Mining Method: open\_pit

#### Location

- Easting: 341820
- Northing: 7575892
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1517.9 m
- Azimuth: 225 °
- Dip: -60 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2026-10-19T00:00:00.000Z

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This historical sub-interval shows exceptional grade over a significant width from surface, indicating very strong mineralization, but it is not new information.

- Positive factor: Exceptional grade \(9.87% TREO\) for rare earths, well above peer average and project average.

- Positive factor: Significant continuous intercept length \(53m\) from surface.

- Negative factor: Historical result, not new information.

- Negative factor: True width not stated.

Evidence · table

> 9.87

Context: 53

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

**Stale Data Re-release**

Polarity: negative

Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

### MFSR-052

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-31)

Morro do Ferro · rare\_earths

Historical result

Needs review: historical\_restatement

#### Identity

- Hole ID: MFSR-052
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 13.04
- Grade Unit: %
- Intercept: 26.9 m
- From: 19 m
- To: 45.9 m
- Hole Depth: 173.3 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-052:19-45.9
- Mining Method: open\_pit

#### Location

- Easting: 341820
- Northing: 7575892
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1517.9 m
- Azimuth: 225 °
- Dip: -60 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2026-10-19T00:00:00.000Z

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This historical sub-interval shows exceptional grade over a strong width, indicating very strong mineralization, but it is not new information.

- Positive factor: Exceptional grade \(13.04% TREO\) for rare earths, well above peer average and project average.

- Positive factor: Strong continuous intercept length \(26.9m\).

- Negative factor: Historical result, not new information.

- Negative factor: True width not stated.

Evidence · table

> 13.04

Context: 26.9

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

**Stale Data Re-release**

Polarity: negative

Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

### MFSR-052

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-32)

Morro do Ferro · rare\_earths

Historical result

Needs review: historical\_restatement

#### Identity

- Hole ID: MFSR-052
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 19.51
- Grade Unit: %
- Intercept: 2 m
- From: 39 m
- To: 41 m
- Hole Depth: 173.3 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-052:39-41
- Mining Method: open\_pit

#### Location

- Easting: 341820
- Northing: 7575892
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1517.9 m
- Azimuth: 225 °
- Dip: -60 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2026-10-19T00:00:00.000Z

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This historical sub-interval shows exceptional grade, indicating very strong mineralization, but it is not new information and is very narrow.

- Positive factor: Exceptional grade \(19.51% TREO\) for rare earths, well above peer average and project average.

- Negative factor: Historical result, not new information.

- Negative factor: Narrow intercept length \(2m\).

- Negative factor: True width not stated.

Evidence · table

> 19.51

Context: 2

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

**Stale Data Re-release**

Polarity: negative

Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

### MFSR-051

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-33)

Morro do Ferro · rare\_earths

Historical result

Needs review: historical\_restatement

#### Identity

- Hole ID: MFSR-051
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 4.78
- Grade Unit: %
- Intercept: 116 m
- From: 0 m
- To: 116 m
- Hole Depth: 210.9 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-051:0-116
- Mining Method: open\_pit

#### Location

- Easting: 341842
- Northing: 7575913
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1519.3 m
- Azimuth: 225 °
- Dip: -60 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2026-10-19T00:00:00.000Z

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This historical intercept shows strong grade over a very significant width from surface, indicating strong mineralization, but it is not new information.

- Positive factor: Strong grade \(4.78% TREO\) for rare earths, above the strong threshold.

- Positive factor: Very significant continuous intercept length \(116m\) from surface.

- Negative factor: Historical result, not new information.

- Negative factor: True width not stated.

Evidence · table

> 4.78

Context: 116

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

**Stale Data Re-release**

Polarity: negative

Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

### MFSR-051

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-34)

Morro do Ferro · rare\_earths

Historical result

Needs review: historical\_restatement

#### Identity

- Hole ID: MFSR-051
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 10
- Grade Unit: %
- Intercept: 31 m
- From: 14 m
- To: 45 m
- Hole Depth: 210.9 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-051:14-45
- Mining Method: open\_pit

#### Location

- Easting: 341842
- Northing: 7575913
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1519.3 m
- Azimuth: 225 °
- Dip: -60 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2026-10-19T00:00:00.000Z

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This historical sub-interval shows exceptional grade over a strong width, indicating very strong mineralization, but it is not new information.

- Positive factor: Exceptional grade \(10.0% TREO\) for rare earths, well above peer average and project average.

- Positive factor: Strong continuous intercept length \(31m\).

- Negative factor: Historical result, not new information.

- Negative factor: True width not stated.

Evidence · table

> 10

Context: 31

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

**Stale Data Re-release**

Polarity: negative

Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

### MFSR-051

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-35)

Morro do Ferro · rare\_earths

Historical result

Needs review: historical\_restatement

#### Identity

- Hole ID: MFSR-051
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 18.12
- Grade Unit: %
- Intercept: 2 m
- From: 37 m
- To: 39 m
- Hole Depth: 210.9 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-051:37-39
- Mining Method: open\_pit

#### Location

- Easting: 341842
- Northing: 7575913
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1519.3 m
- Azimuth: 225 °
- Dip: -60 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2026-10-19T00:00:00.000Z

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This historical sub-interval shows exceptional grade, indicating very strong mineralization, but it is not new information and is very narrow.

- Positive factor: Exceptional grade \(18.12% TREO\) for rare earths, well above peer average and project average.

- Negative factor: Historical result, not new information.

- Negative factor: Narrow intercept length \(2m\).

- Negative factor: True width not stated.

Evidence · table

> 18.12

Context: 2

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

**Stale Data Re-release**

Polarity: negative

Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

### MFSR-054

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-36)

Morro do Ferro · rare\_earths

#### Identity

- Hole ID: MFSR-054
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 12309
- Grade Unit: ppm
- Intercept: 2 m
- From: 188 m
- To: 190 m
- Hole Depth: 253.55 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-054:188-190
- Mining Method: open\_pit

#### Location

- Easting: 341805
- Northing: 7575870
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1512.1 m
- Azimuth: 45 °
- Dip: -50 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This intercept shows exceptional grade at significant depth, which is highly positive for extending the known mineralization and supporting the maiden MRE.

- Positive factor: Exceptional grade \(1.23% TREO\) for rare earths, well above peer average and project average.

- Positive factor: Located at a significant depth \(188m\), extending mineralization.

- Positive factor: Contributes to maiden JORC MRE.

- Negative factor: Narrow intercept length \(2m\).

- Negative factor: True width not stated.

Evidence · table

> 12309

Context: 188

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

### MFSR-054

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-37)

Morro do Ferro · rare\_earths

#### Identity

- Hole ID: MFSR-054
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 5347
- Grade Unit: ppm
- Intercept: 2 m
- From: 203 m
- To: 205 m
- Hole Depth: 253.55 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-054:203-205
- Mining Method: open\_pit

#### Location

- Easting: 341805
- Northing: 7575870
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1512.1 m
- Azimuth: 45 °
- Dip: -50 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This intercept shows moderate grade at significant depth, which is positive for extending the known mineralization and supporting the maiden MRE.

- Positive factor: Grade \(0.53% TREO\) is above the moderate threshold for rare earths.

- Positive factor: Located at a significant depth \(203m\), extending mineralization.

- Positive factor: Contributes to maiden JORC MRE.

- Negative factor: Grade is below the project's average for TREO \(6.375%\).

- Negative factor: Narrow intercept length \(2m\).

- Negative factor: True width not stated.

Evidence · table

> 5347

Context: 203

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

### MFSR-054

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-38)

Morro do Ferro · rare\_earths

#### Identity

- Hole ID: MFSR-054
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 5387
- Grade Unit: ppm
- Intercept: 2 m
- From: 207 m
- To: 209 m
- Hole Depth: 253.55 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-054:207-209
- Mining Method: open\_pit

#### Location

- Easting: 341805
- Northing: 7575870
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1512.1 m
- Azimuth: 45 °
- Dip: -50 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This intercept shows moderate grade at significant depth, which is positive for extending the known mineralization and supporting the maiden MRE.

- Positive factor: Grade \(0.54% TREO\) is above the moderate threshold for rare earths.

- Positive factor: Located at a significant depth \(207m\), extending mineralization.

- Positive factor: Contributes to maiden JORC MRE.

- Negative factor: Grade is below the project's average for TREO \(6.375%\).

- Negative factor: Narrow intercept length \(2m\).

- Negative factor: True width not stated.

Evidence · table

> 5387

Context: 207

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

### MFSR-054

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-39)

Morro do Ferro · rare\_earths

#### Identity

- Hole ID: MFSR-054
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 11248
- Grade Unit: ppm
- Intercept: 2 m
- From: 209 m
- To: 211 m
- Hole Depth: 253.55 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-054:209-211
- Mining Method: open\_pit

#### Location

- Easting: 341805
- Northing: 7575870
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1512.1 m
- Azimuth: 45 °
- Dip: -50 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This intercept shows exceptional grade at significant depth, which is highly positive for extending the known mineralization and supporting the maiden MRE.

- Positive factor: Exceptional grade \(1.12% TREO\) for rare earths, well above peer average and project average.

- Positive factor: Located at a significant depth \(209m\), extending mineralization.

- Positive factor: Contributes to maiden JORC MRE.

- Negative factor: Narrow intercept length \(2m\).

- Negative factor: True width not stated.

Evidence · table

> 11248

Context: 209

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

### MFSR-054

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-40)

Morro do Ferro · rare\_earths

#### Identity

- Hole ID: MFSR-054
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 5118
- Grade Unit: ppm
- Intercept: 2 m
- From: 213 m
- To: 215 m
- Hole Depth: 253.55 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-054:213-215
- Mining Method: open\_pit

#### Location

- Easting: 341805
- Northing: 7575870
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1512.1 m
- Azimuth: 45 °
- Dip: -50 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This intercept shows moderate grade at significant depth, which is positive for extending the known mineralization and supporting the maiden MRE.

- Positive factor: Grade \(0.51% TREO\) is above the moderate threshold for rare earths.

- Positive factor: Located at a significant depth \(213m\), extending mineralization.

- Positive factor: Contributes to maiden JORC MRE.

- Negative factor: Grade is below the project's average for TREO \(6.375%\).

- Negative factor: Narrow intercept length \(2m\).

- Negative factor: True width not stated.

Evidence · table

> 5118

Context: 213

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

### MFSR-054

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-41)

Morro do Ferro · rare\_earths

#### Identity

- Hole ID: MFSR-054
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 5759
- Grade Unit: ppm
- Intercept: 2.1 m
- From: 219 m
- To: 221.1 m
- Hole Depth: 253.55 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-054:219-221.1
- Mining Method: open\_pit

#### Location

- Easting: 341805
- Northing: 7575870
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1512.1 m
- Azimuth: 45 °
- Dip: -50 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This intercept shows moderate grade at significant depth, which is positive for extending the known mineralization and supporting the maiden MRE.

- Positive factor: Grade \(0.58% TREO\) is above the moderate threshold for rare earths.

- Positive factor: Located at a significant depth \(219m\), extending mineralization.

- Positive factor: Contributes to maiden JORC MRE.

- Negative factor: Grade is below the project's average for TREO \(6.375%\).

- Negative factor: Narrow intercept length \(2.1m\).

- Negative factor: True width not stated.

Evidence · table

> 5759

Context: 219

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

### MFSR-054

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-42)

Morro do Ferro · rare\_earths

#### Identity

- Hole ID: MFSR-054
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 8976
- Grade Unit: ppm
- Intercept: 1.4 m
- From: 222.2 m
- To: 223.6 m
- Hole Depth: 253.55 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-054:222.2-223.6
- Mining Method: open\_pit

#### Location

- Easting: 341805
- Northing: 7575870
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1512.1 m
- Azimuth: 45 °
- Dip: -50 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This intercept shows exceptional grade at significant depth, which is highly positive for extending the known mineralization and supporting the maiden MRE.

- Positive factor: Exceptional grade \(0.90% TREO\) for rare earths, well above peer average and project average.

- Positive factor: Located at a significant depth \(222.2m\), extending mineralization.

- Positive factor: Contributes to maiden JORC MRE.

- Negative factor: Narrow intercept length \(1.4m\).

- Negative factor: True width not stated.

Evidence · table

> 8976

Context: 222.2

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

### MFSR-054

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-43)

Morro do Ferro · rare\_earths

#### Identity

- Hole ID: MFSR-054
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 6355
- Grade Unit: ppm
- Intercept: 2.4 m
- From: 223.6 m
- To: 226 m
- Hole Depth: 253.55 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-054:223.6-226
- Mining Method: open\_pit

#### Location

- Easting: 341805
- Northing: 7575870
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1512.1 m
- Azimuth: 45 °
- Dip: -50 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This intercept shows exceptional grade at significant depth, which is highly positive for extending the known mineralization and supporting the maiden MRE.

- Positive factor: Exceptional grade \(0.64% TREO\) for rare earths, well above peer average and project average.

- Positive factor: Located at a significant depth \(223.6m\), extending mineralization.

- Positive factor: Contributes to maiden JORC MRE.

- Negative factor: Narrow intercept length \(2.4m\).

- Negative factor: True width not stated.

Evidence · table

> 6355

Context: 223.6

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

### MFSR-054

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-44)

Morro do Ferro · rare\_earths

#### Identity

- Hole ID: MFSR-054
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 10055
- Grade Unit: ppm
- Intercept: 2 m
- From: 226 m
- To: 228 m
- Hole Depth: 253.55 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-054:226-228
- Mining Method: open\_pit

#### Location

- Easting: 341805
- Northing: 7575870
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1512.1 m
- Azimuth: 45 °
- Dip: -50 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This intercept shows exceptional grade at significant depth, which is highly positive for extending the known mineralization and supporting the maiden MRE.

- Positive factor: Exceptional grade \(1.01% TREO\) for rare earths, well above peer average and project average.

- Positive factor: Located at a significant depth \(226m\), extending mineralization.

- Positive factor: Contributes to maiden JORC MRE.

- Negative factor: Narrow intercept length \(2m\).

- Negative factor: True width not stated.

Evidence · table

> 10055

Context: 226

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

### MFSR-054

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-45)

Morro do Ferro · rare\_earths

#### Identity

- Hole ID: MFSR-054
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 8700
- Grade Unit: ppm
- Intercept: 2 m
- From: 228 m
- To: 230 m
- Hole Depth: 253.55 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-054:228-230
- Mining Method: open\_pit

#### Location

- Easting: 341805
- Northing: 7575870
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1512.1 m
- Azimuth: 45 °
- Dip: -50 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This intercept shows exceptional grade at significant depth, which is highly positive for extending the known mineralization and supporting the maiden MRE.

- Positive factor: Exceptional grade \(0.87% TREO\) for rare earths, well above peer average and project average.

- Positive factor: Located at a significant depth \(228m\), extending mineralization.

- Positive factor: Contributes to maiden JORC MRE.

- Negative factor: Narrow intercept length \(2m\).

- Negative factor: True width not stated.

Evidence · table

> 8700

Context: 228

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

### MFSR-054

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-46)

Morro do Ferro · rare\_earths

#### Identity

- Hole ID: MFSR-054
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 6369
- Grade Unit: ppm
- Intercept: 2 m
- From: 232 m
- To: 234 m
- Hole Depth: 253.55 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-054:232-234
- Mining Method: open\_pit

#### Location

- Easting: 341805
- Northing: 7575870
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1512.1 m
- Azimuth: 45 °
- Dip: -50 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This intercept shows exceptional grade at significant depth, which is highly positive for extending the known mineralization and supporting the maiden MRE.

- Positive factor: Exceptional grade \(0.64% TREO\) for rare earths, well above peer average and project average.

- Positive factor: Located at a significant depth \(232m\), extending mineralization.

- Positive factor: Contributes to maiden JORC MRE.

- Negative factor: Narrow intercept length \(2m\).

- Negative factor: True width not stated.

Evidence · table

> 6369

Context: 232

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

### MFSR-054

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-47)

Morro do Ferro · rare\_earths

#### Identity

- Hole ID: MFSR-054
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 8078
- Grade Unit: ppm
- Intercept: 2 m
- From: 234 m
- To: 236 m
- Hole Depth: 253.55 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-054:234-236
- Mining Method: open\_pit

#### Location

- Easting: 341805
- Northing: 7575870
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1512.1 m
- Azimuth: 45 °
- Dip: -50 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This intercept shows exceptional grade at significant depth, which is highly positive for extending the known mineralization and supporting the maiden MRE.

- Positive factor: Exceptional grade \(0.81% TREO\) for rare earths, well above peer average and project average.

- Positive factor: Located at a significant depth \(234m\), extending mineralization.

- Positive factor: Contributes to maiden JORC MRE.

- Negative factor: Narrow intercept length \(2m\).

- Negative factor: True width not stated.

Evidence · table

> 8078

Context: 234

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

### MFSR-054

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-48)

Morro do Ferro · rare\_earths

#### Identity

- Hole ID: MFSR-054
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 8076
- Grade Unit: ppm
- Intercept: 2 m
- From: 236 m
- To: 238 m
- Hole Depth: 253.55 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-054:236-238
- Mining Method: open\_pit

#### Location

- Easting: 341805
- Northing: 7575870
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1512.1 m
- Azimuth: 45 °
- Dip: -50 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This intercept shows exceptional grade at significant depth, which is highly positive for extending the known mineralization and supporting the maiden MRE.

- Positive factor: Exceptional grade \(0.81% TREO\) for rare earths, well above peer average and project average.

- Positive factor: Located at a significant depth \(236m\), extending mineralization.

- Positive factor: Contributes to maiden JORC MRE.

- Negative factor: Narrow intercept length \(2m\).

- Negative factor: True width not stated.

Evidence · table

> 8076

Context: 236

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

### MFSR-054

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-49)

Morro do Ferro · rare\_earths

#### Identity

- Hole ID: MFSR-054
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 8868
- Grade Unit: ppm
- Intercept: 2 m
- From: 238 m
- To: 240 m
- Hole Depth: 253.55 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-054:238-240
- Mining Method: open\_pit

#### Location

- Easting: 341805
- Northing: 7575870
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1512.1 m
- Azimuth: 45 °
- Dip: -50 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This intercept shows exceptional grade at significant depth, which is highly positive for extending the known mineralization and supporting the maiden MRE.

- Positive factor: Exceptional grade \(0.89% TREO\) for rare earths, well above peer average and project average.

- Positive factor: Located at a significant depth \(238m\), extending mineralization.

- Positive factor: Contributes to maiden JORC MRE.

- Negative factor: Narrow intercept length \(2m\).

- Negative factor: True width not stated.

Evidence · table

> 8868

Context: 238

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

### MFSR-054

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-50)

Morro do Ferro · rare\_earths

#### Identity

- Hole ID: MFSR-054
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 68822
- Grade Unit: ppm
- Intercept: 2 m
- From: 240 m
- To: 242 m
- Hole Depth: 253.55 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-054:240-242
- Mining Method: open\_pit

#### Location

- Easting: 341805
- Northing: 7575870
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1512.1 m
- Azimuth: 45 °
- Dip: -50 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This intercept represents the deepest high-grade REE intersection to date, which is highly novel and material for extending the project's mineralization at depth, despite its narrow width.

- Positive factor: Exceptional grade \(6.88% TREO\) for rare earths, well above peer average and project average.

- Positive factor: Deepest high-grade REE intersection to date, extending mineralization significantly at depth.

- Positive factor: Contributes to maiden JORC MRE.

- Negative factor: Narrow intercept length \(2m\).

- Negative factor: True width not stated.

Evidence · table

> 68822

Context: 240

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

### MFSR-054

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-51)

Morro do Ferro · rare\_earths

#### Identity

- Hole ID: MFSR-054
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 6046
- Grade Unit: ppm
- Intercept: 2 m
- From: 250 m
- To: 252 m
- Hole Depth: 253.55 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-054:250-252
- Mining Method: open\_pit

#### Location

- Easting: 341805
- Northing: 7575870
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1512.1 m
- Azimuth: 45 °
- Dip: -50 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This intercept shows exceptional grade at significant depth, which is highly positive for extending the known mineralization and supporting the maiden MRE.

- Positive factor: Exceptional grade \(0.60% TREO\) for rare earths, well above peer average and project average.

- Positive factor: Located at a significant depth \(250m\), extending mineralization.

- Positive factor: Contributes to maiden JORC MRE.

- Negative factor: Narrow intercept length \(2m\).

- Negative factor: True width not stated.

Evidence · table

> 6046

Context: 250

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

### MFSR-054

[Link to this fact](https://atlas-staging.minestarters.com/news/pnn-deepest-high-grade-reo-at-mdf-with-6-88-treo-at-240m--9ff957b8-355b-4c58-92e7-70ad2d5bfd25#fact-drill-facts-52)

Morro do Ferro · rare\_earths

#### Identity

- Hole ID: MFSR-054
- Project: Morro do Ferro
- Commodity: rare\_earths
- Region: brazil
- Reported Region: brazil
- Ticker: PNN

#### Geometry

- Grade: 5954
- Grade Unit: ppm
- Intercept: 1.6 m
- From: 252 m
- To: 253.6 m
- Hole Depth: 253.55 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: other
- Program: exploration
- Sample Type: drill
- Group ID: MFSR-054:252-253.6
- Mining Method: open\_pit

#### Location

- Easting: 341805
- Northing: 7575870
- CRS: WGS84, Zone 23 South
- EPSG: 32723
- Elevation: 1512.1 m
- Azimuth: 45 °
- Dip: -50 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: SGS Geosol Laboratory, Brazil
- QA/QC Disclosed: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates

#### Deleterious

- Deleterious Flag: Yes
- Deleterious Elements: gallium, thorium, uranium

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This intercept shows exceptional grade at significant depth, which is highly positive for extending the known mineralization and supporting the maiden MRE.

- Positive factor: Exceptional grade \(0.60% TREO\) for rare earths, well above peer average and project average.

- Positive factor: Located at a significant depth \(252m\), extending mineralization.

- Positive factor: Contributes to maiden JORC MRE.

- Negative factor: Narrow intercept length \(1.6m\).

- Negative factor: True width not stated.

Evidence · table

> 5954

Context: 252

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Deleterious Elements Present**

Polarity: negative

Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release.

Why it applies: deleterious\_flag is true

## How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.