VANCOUVER, British Columbia, Nov. 21, 2023 (GLOBE NEWSWIRE) — MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FRANKFURT: 89N) (“MAX Power” or the “Company”) is pleased to announce that it has received a permit from the Arizona State Land Department (ASLD) to carry out imminent first-ever diamond drilling at its 100%-owned Willcox Playa Property located approximately 200 miles southeast of Phoenix (see Figure 1 below). The Willcox Property, comprising 3,754 acres, is considered highly prospective for economic lithium mineralization based on MAX Power’s recent work program (refer to July 24, 2023 news release) and compilation of historical data from the U.S. Geological Survey and other sources.
MAX Power has contracted Willcox-based Godbe Drilling LLC to commence a Phase 1 drill program at Willcox with mobilization to begin shortly after American Thanksgiving. This will be the first-ever systematic drilling on the Playa where the Company has abundant claystone and liquid brine targets (see Figure 2 below).
Mr. Peter Lauder, MAX Power Senior Geologist, commented: “The Willcox Playa has significant lithium discovery potential, so it’s very exciting that MAX Power will be the first company to ever carry out systematic diamond drilling on the Playa. The targets are compelling.”
Figure 1. Willcox Playa, Arizona, MAX Power Mining Corp.
Figure 2. MAX Power Mining Corp. Drill Hole Locations, Willcox Playa, Arizona
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 Power 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.
MarketSmart Communications at 877-261-4466.
Company Contact [email protected], 778-655-9266
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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