Record Resources Acquires Beauchamp Hydrogen Property, Cancels Djibouti Option

Record Resources has received conditional approval from the TSX Venture Exchange for the acquisition of the Beauchamp natural hydrogen property in Ontario, marking the transaction as closed. This strategic acquisition builds upon Quebec Innovative Materials Corp.’s western hydrogen discovery trend, positioning Record as a leader in renewable hydrogen exploration.

Beauchamp comprises 300 claims in a northwesterly-trending Lake Timiskaming Rift zone, bisected by the Cross Lake Fault, and extending north to the Lake Timiskaming Westshore Fault. The property’s geological setting indicates potential for natural hydrogen generation, though current geoscientific data is not definitive.

Under the arm’s-length agreement with a private exploration entity, Record obtains 100% ownership of the claims in exchange for 12,500,000 shares at $0.03 per share and $39,000 in cash. The vendor retains a 2% gross revenue royalty, with Record maintaining an option to repurchase half of that royalty for $2 million.

Exploration activities are scheduled to commence later this year, focusing on geophysical studies and field evaluations to assess hydrogen migration. In a separate development, the company reports the termination of an option agreement related to a gold exploration property in Djibouti.

Record Resources is a Canadian exploration firm that focuses on both hydrogen and gold assets, leveraging an experienced management team and strong capital markets support.

By Kevin Vincent, Senior Contributing Editor to Mining Life Online and Mining Life & Exploration News.

Tags: Northern Ontario / New Projects / Gold / All Articles