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Be the first with the news that moves the market- MAX Power (MAXX) has acquired the Spark property in the heart of the New Leaf Lithium Camp in Northern Québec’s Nunavik region
- The Spark property contains a high concentration of 99th percentile lithium and cesium in lake sediments, including up to 86.5 ppm lithium
- MAX will be partnering with GroundTruth Exploration to conduct a first-pass sweep of the property with the most prospective targets drill tested during the 2023 season
- MAX Power (MAXX) opened trading at $0.62 per share
MAX Power (MAXX) has acquired the Spark property in the heart of the New Leaf Lithium Camp in Northern Québec’s Nunavik region.
The 184 sq. km Spark property is located in the southern half of Nunavik, 175 km southwest of the community of Tasiujaq and 500 km directly north of MAX’s Corvette Lake North property in the James Bay District of Québec. The northernmost claim at Corvette Lake North is just 3.5 km south of Patriot Battery Metals’ (TSXV:PMET) CV-13 discovery.
The Spark property contains a high concentration of 99th percentile lithium and cesium in lake sediments, including up to 86.5 ppm lithium, based on historical assessment reports and Québec government data.
The company refers to data from the region that supports its potential to host spodumene-bearing lithium pegmatite deposits. Historic work documented a prospective structure dominated by pegmatite dykes that is approximately 3 km long by 300 meters wide.
A consortium of six sellers received 1.5 million MAXX common shares and $121,600 cash. The company granted a 1 per cent net smelter royalty to Shawn Ryan in relation to the property.
MAX will be partnering with GroundTruth Exploration to conduct a first-pass sweep of the property with a quick follow-up of encouraging target areas. The most prospective lithium targets will then be drill tested during the 2023 season.
MAX Power’s CEO, Rav Mlait stated that the company had just started its second year listed on the CSE and is now rolling out the game plan the team envisioned to become a leader in the North American lithium sector.
“We have a strong cash position in excess of $3 million, an attractive share structure, and the right team in place to create sustained shareholder value,” he said. “We expect to enter a period of strong news flow given developments in Nunavik and James Bay, and we continue to examine other potential lithium opportunities in North America.”
The team continues to review all of Nunavik for the potential acquisition of other properties with the potential to host spodumene bearing pegmatites.
MAX Power is an exploration-stage resource company targeting domestic lithium resources to advance North America’s renewable energy prospects.
MAX Power Mining Corp. (MAXX) opened trading at $0.62 per share.
