MAX Power Resumes James Bay, Quebec Lithium Exploration Program

VANCOUVER, British Columbia, Aug. 23, 2023 (GLOBE NEWSWIRE) -- MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FRANKFURT: 89N) (“MAX Power” or the “Company”) announces that Prospectair Geosurveys of Gatineau, Quebec, has resumed a high resolution heliborne radiometric and magnetic survey covering the Company’s Corvette Lake North and Corvette Lake South properties in James Bay, in close proximity to Patriot Battery Metals’ Corvette deposit and covering a total area of approximately 100 sq. km (see Figure 1, Location Map).

MAX Power initially commenced the airborne survey in late June (refer to June 21, 2023 news release) and work was paused shortly thereafter, due to forest fire restrictions in the region. On June 26, the company announced that it had outlined multiple radiometric anomalies at and around the newly-identified “Shoreline Zone” from preliminary airborne survey data covering approximately two-thirds of Corvette Lake North. MAX Power eagerly awaits a detailed analysis of the Corvette Lake North Survey upon its final completion in the coming days, ahead of ground operations.

Figure 1 - Location Map

Mr. Rav Mlait, MAX Power CEO, commented: “Corvette Lake North and Corvette Lake South have become increasingly interesting to our geological team in recent months based on further reviews of historical information and preliminary interpretations from the early part of the airborne survey before it was interrupted by the forest fire threat. This summer, we have seen significant corporate activities in this area including the entrance of Rio Tinto, next to MAX Power (1), and investment by Albemarle into Patriot Battery Metals (2). We’re excited to resume this work at our Corvette Lake properties in advance of field operations.”

Mr. Mlait added, “The recent news that Ford and SK, a Korean battery manufacturer, are planning to build a new $1.2 billion battery cathode factory in Becancour, Quebec (3) is another reason our Canadian lithium division is focused exclusively on this province with our strategic position in the James Bay Lithium Camp and ownership of one of the largest land positions focused on lithium in Nunavik, covering the top third of Quebec, where an exploration program is ongoing.”

Management cautions that mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of the presence of similar mineralization or geology on the Company's properties.

Prospectair Geosurveys is acquiring detailed information on Corvette Lake North and Corvette Lake South using 50-metre line spacing. The tight line spacing is an important factor in interpreting structures and rock formations, especially where rocks are not outcropping.