Powermax Minerals Inc. (CSE: PMAX) (OTCQB: PWMXF), a Canadian mineral exploration company focused on rare earth element projects in North America, has entered into a three-year option agreement with Gravel Ridge Resources Ltd. and 1544230 Ontario Inc. The agreement grants Powermax an option to acquire a 100% interest in the Melba North property, the company announced in a press release disseminated on its behalf. The Melba North Property is located in the Clay-Howells townships area of northern Ontario and is adjacent to Powermax’s Hopkins REE property.
The Melba North Property consists of 10 unpatented mining claims comprising 160 cells and covering approximately 3,360 hectares. Both Melba North and Hopkins are underlain by the Clay-Howells Alkalic Rock Complex, a Late Precambrian alkalic rock complex interpreted as a center characterized by LREE-dominant, magnetite-associated and carbonatite-related REE mineralization. A 2025 assessment report on the Clay-Howells claim, which included claims listed on the Melba North option schedule, documented 49 samples that returned more than 0.17% total rare earth element oxides (TREO).
The addition of Melba North adds what the company describes as an important land position to its adjacent Hopkins property, where Powermax has used a desktop study to identify priority areas for future field validation. However, mineralization continuity between the two sites has not yet been established. For investors, the option agreement expands Powermax’s exposure to rare earth elements in a region with documented mineralization, though the company cautions that continuity between Melba North and Hopkins remains unproven and will require field work to confirm.
The news was disseminated on behalf of Powermax Minerals Inc. (CSE: PMAX) (OTCQB: PWMXF) and may include paid advertising. The full announcement is available at https://ibn.fm/YvKri, and additional details can be found in the complete press release at Read More>>. The latest news and updates relating to PWMXF are available in the company’s newsroom at https://ibn.fm/PWMXF.
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