Powermax starts phase 2 exploration program at Cameron

Executive Summary

• Powermax Minerals Inc. has commenced Phase 2 exploration at its Cameron Rare Earth Element (REE) project in British Columbia, building on encouraging Phase 1 results that confirmed both light and heavy REE mineralization.
• The Phase 2 program focuses on geological mapping, systematic rock sampling, and geochemical surveys to refine drill targets, with fieldwork expected to last two to three weeks.
• Phase 1 results highlighted significant REE enrichment, with total REE (TREE) values ranging up to 1,943 ppm in rock samples and up to 7,561 ppm in heavy mineral concentrates.

Key Details

• Project Location: Cameron REE project, Kamloops mining division, British Columbia.
• Project Size: Approximately 2,984 hectares (three mineral claims).
• Geological Context: Property lies within the Monashee Group, a high-grade metamorphic and granitic terrane. Mineralization is associated with pegmatites, shear zones, and altered gneisses.
• Phase 1 Highlights (Reference Data):
  • Total REE (TREE) values in rock samples ranged from 17 ppm to 1,943 ppm.
  • Heavy mineral concentrate samples returned TREE values ranging from 365 ppm to 7,561 ppm.
  • REE enrichment noted across the property, with Light REEs (LREEs) generally more abundant than Heavy REEs (HREEs).
  • Consistent enrichment of both LREEs and HREEs across multiple lithological units.
  • Presence of REE-bearing minerals identified: monazite, allanite, and xenotime.
• Phase 2 Program Objectives:
  • Geological mapping and systematic rock sampling across new and previously identified mineralized zones.
  • Additional stream sediment and soil geochemical surveys targeting untested drainages and low outcrop areas.
  • Integration of geological, geochemical, and geophysical data sets in a GIS platform to refine and prioritize drill targets.
• Timeline: Fieldwork has commenced and is expected to take approximately two to three weeks to complete, subject to weather conditions.
• Qualified Person: Afzaal Pirzada, PGeo, Director of the company.

Notable Quotes

• "Our team is very encouraged by the early success at Cameron, which continues to demonstrate strong potential for both light and heavy rare-earth mineralization in a favourable geological environment. The phase 2 program represents another important step in systematically advancing the project that could add significant value for our shareholders." — Paul Gorman, CEO