The company said it is targeting the potential for nickel-cobalt-platinum group metals (PGM) massive sulphide bodies at the site.

Max Power is interested intesting the highest priority conductive responses and determine whether  the massive sulphide bodies could be the source of geophysical conductors.

The area is considered prospective for nickel-cobalt-platinum group metals due to a major strike-slip fault. An airborne magnetic-electromagnetic survey was conducted at the Nicobat site in 2018 by Crystal Lake Mining (now Enduro Metals).

Max Power's president and chief executive officer Rav Mlait said the company continues to evaluate project opportunities across a broad range of commodity sectors as the bullish market trend continues.

"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," he said.

Several commodity markets have been heavily impacted by the evolving situation in Russia and Ukraine which has led to high market volatility and even led the London Metals Exchange to suspend nickel trading last week.  

Max Power is focused on the identification, acquisition and exploration of high-grade projects in mining-friendly jurisdictions. Its current focus is the Nicobat project in the Rainy River district of northwest Ontario.

On March 11, Max Power traded on the CSE at C$0.51/share, moving 30% higher on the day. This is the highest close the company has seen since it listed on 11 February this year.