Powermax Minerals talks sampling results at Cameron

Executive Summary

• Powermax Minerals Inc. reports encouraging rare earth element (REE) results from soil and surface rock sampling at its Cameron REE property in British Columbia.
• The results define multiple priority exploration targets and indicate the presence of REE mineralization associated with NYF-type pegmatites.
• The company plans to focus its next exploration program on defining bedrock sources of these anomalies and advancing prospective targets toward drilling.

Key Details

• Soil Sampling Results:
  • Total rare earth oxide (TREO) values ranged from approximately 135 ppm to 2,840 ppm, with an average of approximately 340 ppm TREO.
  • Several samples exceeded 400 ppm TREO, with the highest value reaching 2,840 ppm TREO.
  • Results outline a north-south-trending corridor of elevated REE values extending for more than one kilometre.
  • Clusters of highly anomalous samples occur within the Cameron REE 2 claim block, suggesting a potential bedrock REE source beneath shallow overburden.
  • The anomaly coincides with mapped pegmatites and historical thorium-uranium occurrences in the Cameron (Jenkins) showing areas.
• Surface Rock Sampling Results:
  • TREO values ranged from less than 36 ppm to 740 ppm TREO.
  • Several samples exceeded 100 ppm TREO.
  • The highest rock sample returned 741 ppm TREO.
  • Additional samples returned values between 526 ppm and 741 ppm TREO.
  • Anomalous rock samples cluster along the Highway 23 corridor within the Cameron REE 3 claim block and near the Cameron (Jenkins 1) showing.
  • Spatial association of rock and soil anomalies suggests potential for REE-bearing pegmatite bodies underlying the soil geochemical anomalies.
• Methodology and QA/QC:
  • Soil samples collected from B horizon at depths of 10-30 cm; rock samples were selective grab samples from pegmatite outcrops.
  • Samples analyzed by Agat Laboratories Ltd. using the 201-380 Metals Package.
  • Analysis involved sodium peroxide fusion followed by ICP-OES/MS analysis for near-total digestion of REEs.
  • QA/QC included field duplicates and laboratory internal procedures.
• Project Context:
  • The Cameron REE project covers approximately 2,984 hectares in the Kamloops mining division, British Columbia.
  • The property lies within the Monashee group, known to host REE-bearing pegmatites.
  • Mineralization is associated with shear zones and structurally controlled pegmatitic intrusions enriched in both light (LREEs) and heavy rare earth elements (HREEs).

Notable Quotes

• "These results represent an important milestone in advancing the Cameron REE project. The strong correlation between soil geochemical anomalies and anomalous REE values from surface rock and previously reported stream sediment sampling indicates the potential for a pegmatite system prospective for REE mineralization on the property. Our next exploration program will focus on defining the bedrock sources of these anomalies and advancing the most prospective targets toward drilling." — Paul Gorman, Chief Executive Officer