Geophysics Report Reveals Large Lithium Target at MAX Power’s Arizona Property

Geophysics Report Reveals Large Lithium Target at MAX Power’s Arizona Property

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VANCOUVER, British Columbia, July 24, 2023 (GLOBE NEWSWIRE) — MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FSE: 89N) (“MAX Power” or the “Company”) is pleased to announce that a recently completed geophysics survey by Hasbrouck Geophysics over its 100%-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 6 miles (10 km). 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.

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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, suggests the existence of a closed hydrological reservoir. The HSAMT and gravity surveys strengthen the possibility of lithium accumulation and concentration under the property.

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Additional Highlights

  • A gravity and Hybrid-Source Audio-Magnetotellurics (HSAMT) survey was completed across the entire property, measuring gravity and resistivity on a 500 meter x 500 meter grid, and results identified a series of high-priority lithium drill targets as outlined in Figure 1;
  • MAX Power identified the target zone can reach to around 1 mile (1,600 m) thick;
  • MAX Power replicated the relevant geophysical surveys the U.S. Geological Survey (USGS) completed in the 1960’s and 1970’s.

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Location & Lithium Potential

The 50 sq. mile (129 sq. 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 1970’s as one of the most prospective locations for lithium in the Western United States, similar in its potential to Clayton Valley, Nevada, 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.

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Willcox Playa Video

To view a video from the Willcox Playa click on the following URL: https://vimeo.com/840488036?share=copy

Figure 1 – Drill Targets

The first four drill targets cover areas with both low resistivity (<20 ohm-metres) and low gravity (<165 mGals). This resistivity plan map is 100 meters below surface. The targets appear to range from surface to approximately 600 meters deep.

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MAX Power Mining Corp_Willcox Playa Drill Targets Map

Figure 2 – Section Map

The Hasbrouck Report included sections which show the prevalence of resistivity and or gravity anomalies at depth. Figure 2 is one such section showing resistivity anomalies in section.

MAX Power Mining Corp_Willcox Playa Resistivity Anomalies

Figure 3 – Potential Structural Complexity Beneath The Property

The Hasbrouck Report suggested possible near vertical dipping faults beneath the Willcox Playa as demonstrated by Figure 3. It is postulated this possible structural complexity could aid in the concentration of lithium mineralization beneath the playa, particularly under the property.

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MAX Power Mining Corp_Cross Section of Modeled Bedrock Depth from Gravity Data

Figure 4: Geophysics Team at the Willcox Playa

MAX Power Mining Corp_Geophysics Team at the Willcox Playa

Sagacity Capital Media Video Interview from Willcox Playa

To view a video interview with a geophysics specialist at the Willcox Playa, visit the following URL: https://vimeo.com/842888448?share=copy

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.

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Contact: info@maxpowermining.com

MarketSmart Communications at 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.

Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/fe718318-8337-4777-a11f-cd4483257a01

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