MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF) (“MAX Power” or the “Company”) has acquired a highly strategic block of 300 claims (122 sq. km) adjoining the eastern boundary of the emerging Raglan West Lithium Camp in Nunavik, approximately 30 km southwest of the community of Salluit, Quebec.
Notably, these important claims were staked in early February 2023 immediately after Orford Mining kicked off a staking rush with its “Radiant Property” claims (126 sq. km) featuring abundant pegmatite dykes and unusually high lithium and cesium values in lake sediments in the 99th percentile for Quebec according to the Quebec government database.
Mr. Peter Lauder, MAX Power Senior Geologist and Exploration Manager, and Member of the Order of Quebec Geologists, commented: “This acquisition of Raglan West claims next to Orford, Scout Minerals and Shawn Ryan now gives MAX a foothold in two of the three current main lithium camps in Nunavik, a vast under-explored region comprising the top third of Quebec, following our recently announced Spark Property acquisition in southern Nunavik.”
Mr. Lauder added, “The Raglan West Camp prior to this expansion by MAX contained an impressive 2.4% of all the 99th percentile lithium samples (>37.3 ppm Li) in lake sediments in the entire province of Quebec based on the Quebec government database of approximately 133,000 total samples (32 samples out of 1,330 in the 99th percentile).”
Mr. Lauder concluded, “Needless to say, we are very excited to acquire this 122 sq. km claim block to the east that officially expands Raglan West to 789 sq. km. We look forward to providing updates on our new ground which includes multiple historic pegmatite showings as well as favorable geology, structure and geochemistry.”
Acquisition Details
The cost to MAX for the Raglan West claims is $50,000 (no shares or NSR) as the claims were originally acquired by a related party through staking and that individual has transferred the claims to MAX for staking fees only.
CEO Comments
Mr. Rav Mlait, MAX Power CEO, commented: “Nunavik, covering an area of nearly 500,000 sq. km, has become the target of one of the biggest grassroots campaigns for new high-grade lithium deposits in Canada. And MAX is a leading player.”
Mr. Mlait continued, “The fact there are already two operating nickel mines in Nunavik, including Quebec’s biggest, speaks to how the very large regional structures in this part of the province are well mineralized. This bodes well for Nunavik turning into a multi-commodity producer with excellent potential for spodumene-bearing pegmatite lithium deposits when one also considers the very compelling science backing up the push for lithium here. To meet North American and global governments’ ambitious energy transition goals, we’ll need to discover big new lithium districts. Nunavik could be one of those. This is a compelling ‘ground floor’ opportunity for MAX shareholders.”
