Max Power Mining Corp. [MAXX-CSE, MAXXF-OTC, 89N-Frankfurt] said Friday it has received Bureau of Land Management permits for Phase 2 drilling at its Wilcox Lithium Project in southeast Arizona.
The company said it is currently awaiting assay results from a first round of drilling at the Wilcox Playa, which consisted of 5.0 holes, covering 1,848 metres on state ground. Wide space drilling encountered lithium-rich clays in a predominantly hectorite-saponite mix along with fluid sequences of non-potable liquids, the company has said.
Based on all information to date, including an initial assessment of favourable mineralogy, the company said it considers the 12,949-hectare Willcox Playa to be highly prospective for a large near-surface lithium claystone deposit. It said the project is surrounded by excellent infrastructure including roads, rail, power and services located immediately off Interstate 10 leading to Tucson and Pheonix.
“The first five diamond drill holes at Willcox have supported initial theories regarding prospectivity of intense resistivity and gravimetric low anomalies at the Playa,’’ said Peter Lauder, Senior Geologist and Exploration Manager at Max. “This bodes very well for extending the discovery of clay-rich sediments with high lithium values,’’ he said.
On Friday, Max Power shares eased 2.17% or $0.005 to 22.5 cents. The shares are currently trading in a 52-week range of 73 cents and 21 cents.
Aside from the Arizona assets, Max Power holds a 100% interest in two properties (Corvette Lake North and Corvette Lake South) located adjacent to Patriot Battery Metals Inc.’s [PMET-CSE, PMETF-OTCQB, R9GA-FSE] Corvette lithium project in Quebec.
Patriot Battery is currently advancing its CV5 Pegmatite towards the pre-feasibility study stage. CV5 is part of the company’s wholly-owned Corvette – FCI gold-copper-silver-lithium project in the James Bay Region of Quebec.
The CV5 spodumene pegmatite hosts an estimated inferred resource of 109.2 million tonnes at 1.42% Li20 and 160 PPM Ta205, making the largest lithium pegmatite resource in the Americas.
Patriot Battery Metals has been targeting the CV Lithium Trend, an emerging spodumene pegmatite district discovered by the company in 2017. It spans more than 25 kilometres across the Corvette Property, covering the FCE West, FCE East and Corvette claim blocks. It consists of numerous spodumene pegmatite occurrences, which include the CV1, CV2, CV3, CV5, CV6, and CV7 pegmatites, highlighted by the CV5 and CV1 Pegmatite.
Max Power’s Corvette Lake North and South properties cover 189 mineral claims spanning 9,709 hectares. The company said it has identified multiple radiometric anomalies from preliminary airborne survey data covering approximately two thirds of the Corvette North property.
