VANCOUVER, British Columbia, Jan. 22, 2024 (GLOBE NEWSWIRE) — MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FRANKFURT: 89N) (“MAX Power” or the “Company”) continues to drill into thick lithium claystone sequences and fluid sequences 3 miles south of a recently completed widely-spaced triangle formation of drill holes at its Willcox Lithium Project in southeast Arizona.
Diamond drill hole WP-23-04, collared 3 miles southwest of WP-23-03, has encountered a predominant lithium claystone sequence and six fluid sequences from the top of the hole to the base of the hole where it ended at 1,200 feet in a fluid sequence.
Mr. Peter Lauder, Senior Geologist and Exploration Manager for MAX Power, commented: “This big step-out to the south and the first four drill holes in general underscore the potential scale of the Willcox lithium system which is being diamond drilled for the first time. Onsite LIBS analysis (Laser Induced Breakdown Spectroscopy Z-903) of the claystones remains highly encouraging, and with respect to the brine potential there is also evidence of a strong evaporative environment in this fourth drill hole. We are continuing to step-out aggressively.”
Highlights:
- Multiple distinct fluid sequences were encountered in WP-23-04 at depths of 32, 119, 458, 578, 668 and at 1,200 feet, within a broader lithium claystone sequence. Notably, these non-potable liquid targets have the potential to host lithium mineralization which adds to the uniqueness of the geological setting and the potential economic opportunity;
- ALS Global in Tucson is carrying out assaying of claystone and brine samples from Willcox with initial results pending;
- The fifth drill hole has commenced, a 1,640-foot step-out to the south of WP-23-04 in an area characterized by resistivity low and gravity low anomalies.
Figure 1: Willcox Lithium Project Area Map
Figure 2: Representative Drill Core From WP-23-04 (assays pending)
Figure 3: Godbe Drilling’s Core Rig on Hole WP-23-04
Qualified Person
The technical information in this news release has been reviewed and approved by Thomas Clarke, P.Geo., Pr.Sci.Nat, and Director for MAX Power Mining Corp. Mr. Clarke 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
“Rav Mlait”- CEO
MAX Power Mining Corp.
[email protected]
Tel: 778-655-9266
MarketSmart Communications
Tel: 877-261-4466
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 Property; the interpretation of drilling and assay results, the results 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 Willcox Playa Property; the potential for lithium within the Willcox Playa region; ability to access Property; ability to extract resources from the Property, commentary as it related to the opportune timing to explore lithium exploration and any anticipated increasing demand for lithium; any results and updates thereto as it relates to the USGS report; the Company’s concentration hypothesis; closing of the transaction; future press releases by the Company; and funding of any future drilling program. 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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