Power Minerals (ASX:PNN) is set to form a strategic partnership with Brazil-based miner EDEM to explore the Santa Anna niobium carbonatite project in Brazil, according to a Tuesday filing with the Australian bourse.

The company is conducting due diligence drilling at the project, and EDEM will supply an auger drill rig and drilling personnel at significantly reduced costs, the filing said.

Power recently signed a binding letter of intent with EDEM for an option to acquire the project.

Shares of the company rose 3% in recent Tuesday trade.