Max Power Identifies Large Target Area 4 km South of CV-13 Lithium Discovery
VANCOUVER, Aug. 31, 2023 - MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FRANKFURT: 89N) ("MAX Power" or the "Company") is sending a geological team to its Corvette Lake North Property the week of September 4, 2023, to investigate multiple new high priority anomalies across the property from a just-completed first-ever helicopter-borne radiometric and magnetic survey covering the entire 67 sq. km land package adjacent to Patriot Battery Metals' Corvette Property.
Notably, a moss-covered elevated area never previously explored - now referred to as the "Pinch Zone" - sits within a robust radiometric high and a strong magnetic low approximately 4 kilometres south of PMET's CV-13 discovery. The radiometric high is a north-south elongated body with an apparent length and width of approximately 800 x 250 metres as defined by the radiometry which does not necessarily demonstrate its full size. The mag low, meanwhile, covers an area nearly 1 kilometre in length and just over half a kilometre wide.
The "Pinch Zone" is hosted in the gneissic tonalite of the Poste Le Moyne Pluton Complex and between the biotite horneblende tonalite of the Poste Le Moyne Pluton Complex and the Langelier Complex.
Mr. Peter Lauder, Senior Exploration Manager for MAX Power, commented. "The Pinch Zone is a fascinating area given the potential structural environment for pegmatite emplacement. Corvette Lake North has become increasingly interesting to our geological team over the past few months, and this latest information is a large piece of the geophysical puzzle that requires our team's immediate presence on the ground. Very limited sampling of pegmatites outside of the radiometric high by previous operators has returned anomalous lithium values, so this is certainly encouraging."
Mr. Lauder continued, "Other significant anomalies beyond the 'Pinch Zone' and the 'Shoreline Zone', first identified in late June (refer to June 27, 2023 news release), are still being reviewed and we expect to report on these in the near future. The abundance of anomalies speaks to the exploration upside of Corvette Lake North over a very broad area."
MAX Power is simultaneously advancing its James Bay PMET Camp properties (Corvette Lake North and Corvette Lake South) and its large land package in Nunavik, covering the top third of Quebec, with an update on its ongoing Nunavik program expected shortly. Meanwhile, the Company is completing drill permitting for its Willcox Playa Lithium Project in Arizona.
MAX Power James Bay Location Map
Qualified Person
The technical information in this news release has been reviewed and approved by Peter Lauder, P.Geo., Member of the Order of Geologists of Quebec and Senior Geologist and Exploration Manager for MAX Power Mining Corp. Mr. Lauder is the Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.
About MAX Power
MAX Power is a dynamic exploration stage resource company targeting domestic lithium resources to advance North America's renewable energy prospects. MAX has also entered into a cooperative research and development agreement with the University of California Lawrence Berkeley National Laboratory (LBNL) to develop state-of-the-art direct lithium extraction (DLE) technologies for brine resources.
On behalf of the Board of Directors
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Forward-Looking Statement Cautions
This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to exploration, drilling, mineralization and historical results on the Properties; the interpretation of drilling and assay results, the initiation of and the results thereby of any future drilling program, mineralization and the discovery mineralization (if any); plans for future exploration and drilling and the timing of same; the merits of the Properties and the James Bay region, generally; the potential for lithium within the Properties; commentary as it related to the opportune timing to explore lithium exploration and any anticipated increasing demand for lithium; future press releases by the Company; funding of any future drilling program; regulatory approval, including but not limited to the CSE. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "interpreted," "intends," "estimates," "projects," "aims," "suggests," "often," "target," "future," "likely," "pending," "potential," "goal," "objective," "prospective," "possibly," "preliminary", and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the CSE, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of assay results and the drilling program, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's Management's Discussion and Analysis, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.
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