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Max Power Mining Corp
Symbol MAXX
Shares Issued 45,339,800
Close 2023-07-24 C$ 0.59
Market Cap C$ 26,750,482
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Max Power finds drill targets at Willcox Playa

2023-07-24 18:22 ET - News Release

An anonymous director reports

GEOPHYSICS REPORT REVEALS LARGE LITHIUM TARGET AT MAX POWER'S ARIZONA PROPERTY

A recently completed geophysics survey by Hasbrouck Geophysics over Max Power Mining Corp.'s 100-per-cent-owned Willcox Playa project (3,754 acres) in Arizona has identified multiple high-priority drill targets from the northernmost claims to the southernmost, a distance of approximately six miles (10 kilometres). The company is targeting both an aquifer domain with potential high brine volume at Willcox and coincidental claystone mineralization. The property is now considered drill ready, with permitting for phase 1 drilling now in progress.

The gravity low near the centre of the playa and the fact that it is a hydrologically isolated basin, as demonstrated by the Arizona Department of Water Resources, suggest the existence of a closed hydrological reservoir. The HSAMT (hybrid-source audio magnetotellurics) and gravity surveys strengthen the possibility of lithium accumulation and concentration under the property.

Additional highlights:

  • Gravity and HSAMT surveys were completed across the entire property, measuring gravity and resistivity on a 500-metre-by-500-metre grid, and results identified a series of high-priority lithium drill targets;
  • Max Power identified the target zone can reach to around one mile (1,600 m) thick;
  • Max Power replicated the relevant geophysical surveys the U.S. Geological Survey (USGS) completed in the 1960s and 1970s.

Location and lithium potential

The 50 square mile (129 square km) Willcox Playa, situated approximately 200 miles southeast of Phoenix in Cochise county, was historically referenced by the U.S. Geological Survey (USGS) following limited drilling in the 1970s as one of the most prospective locations for lithium in the Western United States, similar in its potential to Clayton Valley, Nev., and the lithium brine and claystone deposits that have been identified there. Decades of U.S. Air Force activity in the Willcox Playa has ended, with Max benefiting from first-mover advantage and securing three well-situated blocks mostly leased from the State of Arizona. The area is surrounded by excellent infrastructure, including rail, roads and services in the nearby town of Willcox.

Drill targets

The first four drill targets cover areas with both low resistivity (less than 20 ohm-metres) and low gravity (less than 165 milligals). The targets appear to range from surface to approximately 600 m deep.

Potential structural complexity beneath

The Hasbrouck report suggested possible near-vertical-dipping faults beneath the Willcox Playa. It is postulated this possible structural complexity could aid in the concentration of lithium mineralization beneath the playa, particularly under the property.

Qualified person

The technical information in this news release has been reviewed and approved by Thomas Clarke, PGeo, PrSciNat, director for Max Power Mining. Mr. Clarke is the qualified person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.

About Max Power Mining Corp.

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 co-operative 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.

We seek Safe Harbor.

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