VANCOUVER, British Columbia, April 25, 2023 (GLOBE NEWSWIRE) -- MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF) (“MAX Power” or the “Company”) has acquired a highly strategic block of 300 claims (122 sq. km) adjoining the eastern boundary of the emerging Raglan West Lithium Camp in Nunavik, approximately 30 km southwest of the community of Salluit, Quebec.
Notably, these important claims were staked in early February 2023 immediately after Orford Mining kicked off a staking rush with its “Radiant Property” claims (126 sq. km) featuring abundant pegmatite dykes and unusually high lithium and cesium values in lake sediments in the 99th percentile for Quebec according to the Quebec government database.
Mr. Peter Lauder, MAX Power Senior Geologist and Exploration Manager, and Member of the Order of Quebec Geologists, commented: “This acquisition of Raglan West claims next to Orford, Scout Minerals and Shawn Ryan now gives MAX a foothold in two of the three current main lithium camps in Nunavik, a vast under-explored region comprising the top third of Quebec, following our recently announced Spark Property acquisition in southern Nunavik (refer to April 21, 2023 news release).”
Mr. Lauder added, “The Raglan West Camp prior to this expansion by MAX contained an impressive 2.4% of all the 99th percentile lithium samples (>37.3 ppm Li) in lake sediments in the entire province of Quebec based on the Quebec government database of approximately 133,000 total samples (32 samples out of 1,330 in the 99th percentile).”
Mr. Lauder concluded, “Needless to say, we are very excited to acquire this 122 sq. km claim block to the east that officially expands Raglan West to 789 sq. km. We look forward to providing updates on our new ground which includes multiple historic pegmatite showings as well as favorable geology, structure and geochemistry.”
Acquisition Details
The cost to MAX for the Raglan West claims is $50,000 (no shares or NSR) as the claims were originally acquired by a related party through staking and that individual has transferred the claims to MAX for staking fees only.
CEO Comments
Mr. Rav Mlait, MAX Power CEO, commented: “Nunavik, covering an area of nearly 500,000 sq. km, has become the target of one of the biggest grassroots campaigns for new high-grade lithium deposits in Canada. And MAX is a leading player.”
Mr. Mlait continued, “The fact there are already two operating nickel mines in Nunavik, including Quebec’s biggest, speaks to how the very large regional structures in this part of the province are well mineralized. This bodes well for Nunavik turning into a multi-commodity producer with excellent potential for spodumene-bearing pegmatite lithium deposits when one also considers the very compelling science backing up the push for lithium here. To meet North American and global governments’ ambitious energy transition goals, we’ll need to discover big new lithium districts. Nunavik could be one of those. This is a compelling ‘ground floor’ opportunity for MAX shareholders.”
Raglan West Lithium Camp – Nunavik
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.
Contact:
info@maxpowermining.com
MarketSmart Communications
Phone: 1-877-261-4466
Forward-Looking Cautionary Statement
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 Nunavik 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.
The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this news release.
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