MAX Power discoveries could position Saskatchewan as natural hydrogen hub

MAX Power Mining (CSE: MAXX; OTC: MAXXF) reported on Tuesday a series of new milestones that it said significantly expand the scale and commercial potential of its Natural Hydrogen portfolio in Saskatchewan.  

The news is highlighted by the successful drilling of the Bracken Well, the completion of a high-resolution 3D seismic survey covering the Lawson Discovery and a broad area surrounding the 15-19 discovery well, and the identification of a new Lawson “look-a-like” target just 12 km southwest of the original discovery based on a further review of legacy 2D seismic data, the company said.  

In January, Max Power said it identified a robust target for drill testing of a second natural hydrogen discovery in Saskatchewan. The company reported helium values as high as 8.7% and averaging 4.4% in core desorption tests from 9 samples from a zone within the Cambrian Basal sands immediately above the natural hydrogen discovery in the Basement Complex. 

These developments set the stage for a rapid acceleration this month and this quarter of MAX Power’s drive to establish Saskatchewan as the world’s birthplace of Natural Hydrogen commercialization, along with its AI-assisted MAXX LEMI platform with global application potential, at a time when the world’s need for reliable, clean, affordable baseload energy has never been greater, it said. 

In Saskatchewan, Bell Canada has proposed Canada’s largest data centre development within the Industrial Corridor that adjoins the 475-km Genesis Trend, adding a new potential demand dynamic for natural hydrogen and helium in the region. 

MAX Power said its Saskatchewan project benefits from an historic rise in helium prices, as helium is often found in association with natural hydrogen as demonstrated now at Bracken and earlier at Lawson. 

The company’s recently completed C$20.5 million raise will allow it to target multiple new short-term milestones including a follow-up well at Lawson to validate potential commerciality, well completion and testing at Bracken, acquisition of new seismic data at Genesis, Grasslands and elsewhere, further evaluation of dozens of prospects, and the pursuit of corporate development strategies with key stakeholders, it said.  

By market close in Toronto, Max Power Mining’s stock was down 6.8%. The company has a C$155.67 million ($112.4m) market capitalization.