VANCOUVER, British Columbia, Aug. 01, 2024 (GLOBE NEWSWIRE) -- MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FRANKFURT: 89N) (“MAX Power” or the “Company”), utilizing proprietary methods and data modelling, has identified a prospective naturally occurring hydrogen resource play in southeast Saskatchewan featuring dozens of historical hydrogen showings, including grades up to 96.4%, within a compelling geological context.
As a result, through a series of permit applications, MAX Power has assembled a 1,244 sq. km land package, which shall now be referred to as the “Rider Natural Hydrogen Project”, situated within the ~200-km-long NE-SW striking Torquay-Rocanville Corridor (see attached map).
Multiple high-priority target areas exist across five separate large claim blocks and include evidence of potential upward migration of hydrogen to surface, possibly through serpentinization or fracture zones, making the Rider Project the largest known area in Canada for the potential discovery of naturally occurring accumulations of hydrogen gas. MAX Power’s staking covers almost all of the available Crown land as well as the premier Natural Hydrogen targets within the Torquay-Rocanville Corridor.
Highlights
Two blocks at the Rider Natural Hydrogen Project include very high concentrations of hydrogen (96.4% at Weyburn and 87.4% at Stoughton) from the wellhead, supported by historical drill stem tests from old wells, indicating that Natural Hydrogen may have migrated to surface;
Two additional high-grade showings (88.3% and 75.6%) from the wellhead also occur within 800 meters and 200 meters, respectively, of MAX Power land claims;
Given the limited number of wells (45) in the data set covering the Rider Natural Hydrogen Project, vs. the number of total wells believed to have been drilled in the region for which data is not available, the fact that seven of these wells showed hydrogen grades >10% at varying depths takes on added significance (the other 38 showed hydrogen grades between 1% and 10%).
MAX Power Special Advisor Mr. Denis Brière, VP-Engineering for Chapman Hydrogen and Petroleum Engineering Ltd., and regarded as one of the world’s leading petrophysicists, commented: “My involvement in the world’s first discovery of a naturally occurring hydrogen gas accumulation in Mali, West Africa, over a decade ago was tremendously gratifying, especially since it quickly powered an entire village with low-cost, emissions-free electricity. This news from Saskatchewan - the scale of the opportunity and the very high historical grades - represents a watershed development for the world in the rapidly emerging Natural Hydrogen sector. Chapman is looking forward to working with MAX Power to take the Rider Natural Hydrogen Project to the next level.”
Moving Forward
Geologists are designing a near-term program to verify and validate the existence of a naturally occurring hydrogen trend at Rider;
MAX Power continues to review an extensive array of datasets in Saskatchewan and elsewhere with an aggressive plan to further build on its first mover advantage in the Natural Hydrogen sector in Canada and the United States;
Pro-energy and pro-business Saskatchewan is exceptionally positioned to become the first jurisdiction in North America to produce Natural Hydrogen given a combination of highly favorable geology and a clearly defined policy framework for exploration and development of this important new alternate energy source.
MAX Power CEO Rav Mlait added:“The acquisition of key permits to form the Rider Natural Hydrogen Project in SE Saskatchewan is a major development for MAX Power as we hit the ground running with the largest target area in the country for Natural Hydrogen in one of the best jurisdictions globally for exploration and resource development. The efforts of the MAX Power team are to be commended as we have used proprietary methods and state-of-the-art data modelling to uncover best-in-class targets. I recently met with top government officials in Saskatchewan and we are very enthused to be working in this forward-looking province. Natural Hydrogen is the cleanest form of hydrogen and can be developed at the lowest cost relative to other hydrogen (manufactured) variations. MAX Power has the potential to ignite a whole new energy boom in Canada and North America.”
Figure 1: Map showing the location of Max Power’s Natural Hydrogen Permit Applications
MAX Power Mining_Rider Natural Hydrogen Project Sask
Proposed Model for the Source of Natural Hydrogen and its Concentration in Saskatchewan
Southern Saskatchewan is entirely covered by the pervasive and thick Western Canadian Sedimentary Basin (“WCSB”);
The WCSB directly overlies the crystalline Pre-Cambrian basement;
This basement is the perceived source rock for naturally occurring hydrogen, especially where the basement rock has an ultramafic composition;
There are a series of deep structures, including faults, allowing movement of gasses from the basement upwards into the WCSB. In addition to structures, a series of domes and arches add to the structural complexity of the WCSB;
Natural Hydrogen migrates upward into certain geological formations where it can accumulate.
Natural Hydrogen Video
Learn more about Natural Hydrogen by clicking on the following link:
The technical information in this news release has been reviewed and approved by Thomas Clarke, P.Geo., Pr.Sci.Nat., and Director for MAX Power Mining Corp. Mr. Clarke is the Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.
About MAX Power Mining
MAX Power is an innovative mineral exploration company focused on North America’s shift to decarbonization. MAX Power is a first mover in the rapidly growing Natural Hydrogen sector, through strategic alliances with Calgary-based Chapman Hydrogen & Petroleum Engineering Ltd., and European- based Larin Engineering HHC. MAX Power also holds a portfolio of properties in the United States and Canada focused on critical minerals. These properties are highlighted by a recent diamond drilling discovery at the Willcox Playa Lithium Project in southeast Arizona.
This press release contains certain “forward-looking statements” within the meaning of Canadian securities legislation, and any legislation specifically relating to natural hydrogen, exploration and acquisition of natural hydrogen properties; ability to locate, discover and/or extract natural hydrogen from the subsurface; commentary as it relates to the opportune timing to carry out natural hydrogen exploration; and any anticipated increasing demand for natural hydrogen; any results and updates thereto as it relates to any future drill program, and the funding of that program; and upcoming press releases by the Company. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts. They are generally, but not always, identified by the words "expects”, "plans”, "anticipates”, "believes”, “interpreted”, "intends”, "estimates”, "projects”, "aims”, “suggests”, “often”, “target”, “future”, “likely”, “pending”, "potential”, "goal”, "objective”, "prospective”, “possibly”, “preliminary”, and similar expressions, or that events or conditions "will”, "would”, "may”, "can”, "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the CSE, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with possible accidents and other risks associated with exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of drill program results, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out its exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's Management’s Discussion and Analysis, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR+) at www.sedarplus.ca for a more complete discussion of such risk factors and their potential effects.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
