MAX Power Commences Drilling For Nickel-Cobalt-PGMs at Nicobat
VANCOUVER, March 11, 2022 - MAX Power Mining Corp. (CSE: MAXX) ("MAX Power" or the "Company") has commenced diamond drilling at its Nicobat Property ("Nicobat" or the "Property") in northwest Ontario. The Company is targeting the potential for nickel-cobalt-platinum group metals ("PGM") massive sulphide bodies in Potts Township. MAX Power aims to determine if such bodies could be the source of geophysical conductors.
Mr. Rav Mlait, CEO of MAX Power, commented: "Timing for the drilling of Nicobat couldn't be better given the very sharp move in nickel prices and the anticipation of a continued strong metals market. At the same time, as a new company, we continue to evaluate project opportunities across a broad range of commodity sectors as the resource bull market intensifies."
Nicobat is situated about 20 km southeast of New Gold's Rainy River gold mine in the heart of an under-explored part of Northern Ontario's Rainy River Greenstone Belt. This area is considered prospective for nickel-cobalt-PGMs due to the presence of a major strike-slip fault conducive to the emplacement of mafic to ultramafic intrusions.
In 2018, Crystal Lake Mining (now Enduro Metals) completed an airborne magnetic-electromagnetic survey at Nicobat. The purpose of the survey was to delineate magnetic and coincident electromagnetic anomalies which could be caused by massive sulphide mineralization. Multiple conductors were identified and conductors for the two highest-ranked anomalies were modelled by Condor Consulting Inc. of Denver, Colorado, to determine their depth and geometry for drill hole targeting. The focus of the March 2022 reconnaissance drill program will be to test the highest priority conductive responses.
MAX Power's geological consultants, Ronacher McKenzie Geoscience of Sudbury, Ontario, is overseeing the drill program.
Qualified Person
The technical information in this news release has been reviewed and approved by Thomas Clarke, P.Geo., 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.
Corporate Presentation
MAX Power's corporate deck is available on the home page of the Company's website (MaxPowerMining.com) and can also be viewed by visiting the following URL:
https://maxpowermining.com/MaxPowerMiningCorp.pdf
About MAX Power
MAX Power is a dynamic exploration stage resource company currently engaged in the identification, acquisition and exploration of high-grade projects in mining-friendly jurisdictions. Its current focus is the Nicobat Project in Northwest Ontario's Rainy River district that hosts New Gold's Rainy River gold mine.
Contact: info@maxpowermining.com or 778-655-9266
Cautionary Statements
Forward Looking Statements: This press release contains "forward‐looking information or statements" within the meaning of Canadian securities laws, which may include, but are not limited to statements relating to the date of first trading in the Company's common shares and its future business plans. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements do not guarantee future performance and actual results may differ from those in the forward-looking statements. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.
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