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Musgrave Ni-Cu-Co and PGE Project

Musgrave Ni-Cu-Co and PGE Project

The Musgrave Project comprises two Exploration Licences and eight Exploration Licence Applications (ELAs) held, or under farm-in, by wholly-owned Power subsidiary, NiCul Minerals Ltd. The Project covers 14,003km2 within the Anangu Pitjantjatjara Yankunytjatjara (APY) Lands, in the Musgrave Province of north-west South Australia. Power’s Musgrave project area positions it as the dominant landholder in what is one of the most prospective and under-explored mineralised belts in the world.

Musgrave Nickel-Copper-Cobalt Project, Musgrave province, South Australia

Power’s priority target is the Pink Slipper geophysical anomaly, which is part of a Farm-in and Joint Venture Agreement (FJVA) with Rio Tinto Exploration Pty Ltd (a wholly owned subsidiary of Rio Tinto Ltd) covering four ELAs. Pursuant to the FJVA with Rio Tinto Exploration, Power has the right to earn a 51% equity in the four FJVA ELAs by progressing the Pink Slipper ELA to grant and meeting certain farm-in expenditure obligations.

A preliminary heritage survey was successfully completed at Pink Slipper in October 2023 as an important step towards proposed on-ground exploration, subject to securing a Deed of Exploration with APY.

Power also identified targets within the large, sulphide-hosting Mt Caroline intrusion. This presents an exciting target model for future exploration programs including drilling to test below the surface cover sequence.