10:57 AM EST, 12/24/2024 (MT Newswires) -- MAX Power Mining ( MAXXF ) was edging up on Tuesday after providing an update as the company closes out 2024 with a "rapidly growing pipeline" of Natural Hydrogen targets in Saskatchewan "approaching the drill-ready stage".

Among highlights, it said large hydrogen anomalies, many associated with faults, were identified through a MAX Power regional geochemical soil gas survey in southeast Saskatchewan with exceptional values as high as 914 ppm hydrogen.

The company also said multiple data clusters from the soil gas survey, combined with hyperspectral readings, supported the company's hydrogen formation and accumulation model for southern Saskatchewan. This suggests the presence of potential reservoirs hosting naturally occurring hydrogen at the Rider Project where permit applications covering broad areas have been approved with more approvals anticipated shortly.

In addition, over the past couple of months, MAX Power's geological team delineated other major "Hydrogen Fairways" in Saskatchewan. Further details to be announced early 2025, the company said.

Mansoor Jan, MAX Power CEO, in a statement said: "We are on track to become the first company to drill specifically for Natural Hydrogen in Canada, during Q1, and further build on our first-mover advantage.

"We are highly confident, after exhaustive studies, and given the advanced provincial policy framework in Saskatchewan vs. other Canadian jurisdictions, that Saskatchewan offers the best immediate opportunity for the discovery of Canada's first commercial concentration of Natural Hydrogen, followed by many more.

"This low-cost, low-emissions alternative energy source right under our feet, through drilling, could revolutionize how we think about energy in North America at a time when affordability and energy security will be at the forefront of incoming new administrations in Ottawa and Washington in 2025."

Shares were last seen up $0.0075 or near 3%, at $0.275 on the Canadian Securities Exchange.

Price: 0.27, Change: +0.01, Percent Change: +3.85