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MAX Power Mining Starts Commercial Validation Phase at Lawson Complex

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MAX Power Mining (MAXX.CN) on Tuesday said it began the commercial validation phase at the Lawson Complex in Saskatchewan.

Lawson Complex hosts "Canada's first subsurface Natural Hydrogen system" discovered late last year, the company said.

The first well, "Lawson 2-24", was spudded on July 13 and is targeting the apex of a large structural closure identified through a 3D seismic survey completed this past spring, said the company.

The drill rig is expected to reach the main targeted discovery area for Lawson 2-24 in around two weeks.

"Within the structural closure, featuring an aerial extent of approximately 14 sq. km, we have very significant scale potential," said Chief Executive Officer Ran Narayanasamy. "More broadly speaking, Lawson is the template for similar potential Natural Hydrogen discoveries along the entire length of the 475-km Genesis Trend bordering the Prairie Evaporite. Saskatchewan has the right geological mix and the demand drivers to become the global birthplace for commercialization of Natural Hydrogen."

Shares of the company were last seen up C$0.04 to C$2.05 on the Canadian Securities Exchange.

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