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
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:
https://vimeo.com/953002092/d6f8574ba4
MAX Power Natural Hydrogen
Deck
Learn more about MAX Power’s first mover
advantage in North America’s Natural Hydrogen sector by clicking on
the following link:
https://www.maxpowermining.com/Presentations/MAXPower-NaturalHydrogen.pdf
MAX Power Corporate
Presentation
Click on the following link to view MAX Power’s
Corporate Deck:
https://maxpowermining.com/Presentations/MAXPower-Corporate.pdf
Qualified Person
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.
On behalf of the Board of Directors
“Rav Mlait”- CEOMAX Power Mining Corp.
MarketSmart CommunicationsTel: 877-261-4466.
info@maxpowermining.comTel: 778-655-9266
Forward-Looking Statement Cautions
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.