お知らせ • Apr 02
MAX Power Mining Corp Advances Multi-Zone Natural Hydrogen and Helium Discovery At Bracken and Identifies New Lawson Analog Target
MAX Power Mining Corp. reported a series of new milestones that significantly expand the scale and commercial potential of its Natural Hydrogen portfolio in Saskatchewan, 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 Bracken Well at Grasslands Project, 325 km southwest of Lawson Discovery, is successfully cased after being drilled to a total depth of 2,600 meters. Mixed gas interval with Helium and Natural Hydrogen encountered in Upper Devonian at Bracken, followed by two Natural Hydrogen-dominant zones in basal Deadwood and Basement Complex; service rig operations for well completion and testing phase to begin after spring breakup. Lawson “look-a-like” target identified just 12 km southwest of original Lawson Discovery, based on further review of legacy 2D seismic data. High quality data set delivered from a 3D Seismic Survey completed on Genesis Trend covering 47 sq. km at the Lawson Natural Hydrogen Discovery and a broad area surrounding the Lawson Well – initial interpretations pending this month following processing and analysis. MAX Power’s large 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 (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 – refer to Jan. 16, 2026, news release). MAX Power’s recently completed $20.5 million raise will allow the Company 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. Bracken Well (Grasslands Project): Successfully drilled to 2,600 m total depth and cased for completion. Three zones of interest (two favorable for Natural Hydrogen, one favorable for Helium). Extensive datasets acquired including core, gas chromatography, and borehole geophysical logs. Consistent with MAX Power’s rigorous standards for collection and reporting of Natural Hydrogen and Helium data, procedures that were initially implemented for Lawson, the first part of the Analytic Phase for Bracken has commenced with preliminary core examination at AGAT Laboratories in Calgary. Service rig operations will commence in the Second Quarter following spring breakup to determine composition of mixed gases present at Bracken. Lawson and Area Update (Genesis Trend): 47 sq. km 3D seismic survey completed ahead of schedule and under budget, delivering a very high-quality data set for processing. Preliminary interpretations expected in the next 2-3 weeks. Data significantly enhances imaging of trap geometry, reservoir distribution, and fault architecture at Lawson Discovery, and will greatly aid determination of resource potential through estimation and modelling work to be done by third-party valuation experts. Confirmatory well planned for mid-2026 targeting the apex of the Lawson structure. Lawson “look-a-like” target – “Lawson Southwest” – identified 12 km southwest of original discovery based on legacy 2D seismic and other data, reinforcing the potential for district-scale repeatability across the Genesis Trend. Lawson Southwest has many geophysical similarities to original Lawson Discovery, and this new target also appears to be associated with a dome-like surface feature at “Shooter Hill”. The Bracken 13-29 Test-of-Concept Well represents MAX Power’s second major drilling milestone and supports the Company’s vision of multiple “play concepts” for Natural Hydrogen as well as basin-scale continuity, the interpretation that a regionally extensive Natural Hydrogen system extends well beyond the Genesis Trend into other parts of the province. In addition, given the fact Saskatchewan is the only jurisdiction in Canada that produces Helium, and Grasslands is situated within a known Helium fairway, the Company is highly encouraged by internal modeling that shows the theoretical impact of value-added Helium to a Natural Hydrogen deposit, similar to how a mineral deposit can benefit significantly from a certain metal credit. The Analytic Phase for Bracken has commenced with preliminary core examination at AGAT Laboratories in Calgary, after which the core will be shipped to the Petroleum Technology Research Center (“PTRC”) in Regina where the specialized rock analysis facility will provide for advanced compositional, reservoir, and rock mechanical testing. Included in this phase will be contributions by members of the University of Regina Faculty of Engineering and Applied Science, igneous research geologists from the Saskatchewan Subsurface Geological Laboratory in Regina, and Dr. Yaoguo Li and colleagues at the Colorado School of Mines. The goal of this phase of work is to provide the first metrics concerning the Natural Hydrogen and Helium gases encountered at the Bracken well, including information as to source rock, method of generation, migration dynamics, reservoir quantification, and flow potential. The deliverables from this Phase will inform the completion and testing program for the cased Bracken 13-29 well. Tetra Tech, a leading global provider of high-end consulting, engineering, program management and technical services, has completed a 47 sq. km 3D Seismic Survey covering the Lawson Discovery and a broad area to the north, delivering to MAX Power an exceptionally high-quality data set under budget and ahead of schedule. The survey was designed with optimal bin spacing and fold to significantly enhance imaging of key structural features within the Lawson Discovery. Initial processing results indicate excellent signal-to-noise and continuity across the reservoir horizon and entire data set. This data set materially de-risks the prospect by refining trap geometry, potential fault architecture, and reservoir distribution, while enabling precise depth conversion and wellbore placement. With an initial round of processing being finalized over the next two weeks, MAX Power looks forward to providing preliminary interpretations of 3D seismic related to the Lawson Discovery and the broader area surrounding the 15-19 well during the second half of April.
