Record Resources to acquire Natural Hydrogen claims in Timiskaming
Record Resources Inc. has announced the acquisition of 27 mineral claims in the Timiskaming area of Ontario, an area gaining attention for recent natural hydrogen discoveries. “This acquisition positions us at the forefront of a highly prospective region,” said Edward Procyshyn, Vice President of Exploration.
The Paradis Bay claims, located just five kilometres west of Ville Marie, Quebec, border the town of Paradis Bay, Ontario. These claims lie near properties held by Quebec Innovative Materials Corp. and sit within a tectonically active zone that may prove significant in the growing hydrogen exploration sector.
Procyshyn’s internal report highlights the unique geological potential of the region. “The Lake Timiskaming area is positioned on the edge of a rift zone bounded by faults, creating an environment conducive to natural hydrogen production,” he wrote. Procyshyn explained that the Timiskaming Graben Rift System has undergone tectonic activity over the past 700 million years, leading to the structural conditions that may support the accumulation of hydrogen gas.
“The sedimentary and volcanic formations in this region dip westward, potentially creating natural traps for gases containing hydrogen,” Procyshyn added. He noted that recent seismic data from the area shows deformations in sedimentary formations, even within glacial deposits, further indicating that the region could host valuable hydrogen reservoirs.
Record Resources is acquiring the Paradis Bay claims through an arm’s-length transaction with a private exploration company. The terms of the deal include the issuance of 2 million common shares of Record Resources over two years, with 1 million shares issued per year, and a one-time cash payment of $50,000, payable in six months. The company’s shares are currently trading at $0.01, valuing the total share transaction at $20,000. The vendor will retain a 1% gross revenue royalty on the properties, with Record holding the option to buy back half of the royalty for $1 million.
The announcement comes at a time when natural hydrogen exploration is gaining momentum, and Record Resources sees this acquisition as a strategic move to capitalize on the growing demand for clean energy sources. The geological characteristics of the region, combined with recent discoveries, make the Timiskaming area a promising frontier for hydrogen exploration.
This agreement, signed in late October 2024, reflects Record Resources’ broader strategy to secure critical assets in emerging energy sectors. With no finder’s fee involved in the transaction, the company is poised to move quickly to explore the potential of these claims.
Procyshyn concluded, “Our preliminary examination of the geological, structural, and tectonic setting suggests that the claims meet all necessary parameters to host economic hydrogen reservoirs. We are excited to move forward and unlock the potential of this promising region.”
The company is now focused on assessing the full scope of these claims, with plans to initiate further exploration to confirm their viability for hydrogen production. As the global energy market shifts towards cleaner alternatives, Record Resources is positioning itself to be a key player in the evolving hydrogen sector, particularly in this geologically advantageous region of Ontario.
Tags: Northern Ontario / Exploration / Minerals / All Articles