Powermax Minerals Inc. has completed a 1,409-line-kilometre high-resolution airborne magnetic and radiometric survey over its Atikokan rare earth element property in northwestern Ontario. The survey, conducted by Geo Data Solutions GDS Inc., met Natural Resources Canada and International Atomic Energy Agency standards for data quality. According to a company release (https://ibn.fm/Sj3NY), the helicopter-borne survey used 50-meter line spacing across the 9,416-hectare property to generate detailed magnetic and gamma-ray spectrometric datasets that will help refine structural interpretations and guide exploration targeting in an underexplored segment of the Atikokan metasedimentary belt.
Powermax CEO Paul Gorman stated that the dataset would help define structural trends influencing rare earth mineralization. Completion of this high-resolution airborne survey marks a major step forward in advancing our Atikokan REE Property, Gorman said. The quality of the data is excellent and will allow us to enhance our understanding of the structural framework that controls mineralization in this underexplored part of the Atikokan metasedimentary belt. Post-flight data processing was conducted using Geosoft Montaj and Praga NASVD software to improve signal-to-noise ratio, with deliverables including digital databases and GeoTIFF maps at 1:30,000 scale.
The Atikokan property lies within a structurally active corridor between the Wabigoon and Quetico sub-provinces, areas known for granitic rare earth and lithium-bearing pegmatites. Powermax plans to use the combined datasets to establish drill-ready targets for trenching or diamond drilling in subsequent exploration phases. The Atikokan project is one of four REE properties Powermax is advancing across Canada and the United States, including the Cameron project in British Columbia, the Ogden Bear Lodge project in Wyoming, and the recently optioned Pinard property in Ontario.
This exploration activity occurs against a backdrop of intensifying global rare earth demand, with the sector projected to grow from US$3.95 billion in 2024 to US$6.3 billion by 2030 (https://ibn.fm/RwOyh). Consumption of rare earth oxides is forecast to rise from 59,000 tonnes in 2022 to 176,000 tonnes by 2035 as electric vehicles, wind turbines, and electronics manufacturing continue to scale (https://ibn.fm/Nq7a0). Supply concentration remains high, with China accounting for approximately 60% of mining output and 90% of processing capacity, creating supply-chain risks that reinforce the strategic value of rare earth development in stable jurisdictions.
Policy support is strengthening in North America, with Canada continuing to deploy capital through its Critical Minerals Infrastructure Fund in 2025 and the United States expanding Defense Production Act funding to stimulate domestic rare earth and magnet supply chains. These initiatives aim to accelerate project development and reduce reliance on foreign processing. Powermax's multijurisdictional rare earth strategy, combined with this policy momentum, positions the company to benefit from a market increasingly driven by electrification and security-of-supply considerations. The company expects to complete further data interpretation in coming months, followed by ground-based work to assess identified anomalies.
