Primary Hydrogen has acquired a natural hydrogen project in Ontario, Canada, that stretches across 69.2km2.
The Hopkins Hydrogen Project is comprised of 31 mineral claims around 35km north of Kapuskasing. H2 View understands that, based on local and regional geology, there is the potential for natural hydrogen.
The project targets near alkali intrusive tied to the mid-continent rift and is located adjacent to Clay-Howell’s Alkali carbonatite, known for rare earth elements, such as thorium and iron resources. Due to the radiogenic properties of the intrusive, it could generate natural hydrogen.
Furthermore, hydrogen generation could be possible through the interaction of water with magnetite or iron-rich rocks during oxidation and radiolysis, presenting an opportunity for natural hydrogen exploration and production.
Primary Hydrogen secured 100% of the project for CAD$96,000 ($68,000) and 450,000 common shares, granting a 1.5% royalty, pending the approval of the TSX Venture Exchange.
Benjamin Asuncion, CEO of Primary Hydrogen, claimed the acquisition demonstrates the Canadian firm’s commitment to “assembling a diversified portfolio of highly prospective hydrogen projects.”
He added, “Grounded on solid geologic fundamentals and leveraging off of extensive exploration in the region, this project has the potential to host numerous sources of naturally occurring hydrogen.”
Canada is a significant region for natural hydrogen exploration. In August, Max Power Mining announced the discovery of the country’s largest natural hydrogen deposit, with concentrations reaching 96.4%.
Read more:Max Power discovers 96.4% natural hydrogen in Canada
After securing permits for the 1,244sq. km of land in the Saskatchewan province, the company later expanded its operations.
Analysis: Is natural hydrogen the next breakthrough or bust?
The next gold rush, a game-changer for decarbonisation and an underestimated resource: all terms used to describe natural hydrogen, which has grabbed an ever increasing number of headlines in recent months.
Formed by natural processes inside the Earth’s crust through processes such as serpentinisation and iron oxidation, natural hydrogen can accumulate in underground reservoirs. It has been coined as the climate solution under our feet and is capturing the minds of investors, entrepreneurs and policymakers alike, often touted as a low-cost, low-impact energy source.
While fossil fuel-based grey hydrogen costs less than $2/kg on average, many anticipate natural hydrogen costs, depending on deposit purity and depth, to be around $1/kg1.
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