Record Resources Expands Hydrogen Portfolio: Beauchamp Property Acquisition and LIFE Offering
Thursday, Nov 21, 2024 9:26 am ET
4min read Record Resources Inc. (TSXV: REC) has recently made a strategic move in the renewable energy sector by acquiring a pivotal western geological extension in Ontario, building upon Quebec Innovative Materials Corp. (QIMC)'s landmark Quebec hydrogen discovery along the western geological regional trend. This acquisition solidifies Record Resources' position as the Ontario leader in renewable hydrogen exploration and strengthens its commitment to advancing sustainable energy solutions.
The Beauchamp Property, consisting of 300 claims, is situated on a broad northwesterly-trending Lake Timiskaming Rift zone, split by the Cross Lake Fault and extending northward to touch the western margin of the Lake Timiskaming Westshore fault. This unique geological setting, combined with compelling geophysical data, highlights the potential of this extension to unlock new sources of clean energy and natural renewable hydrogen. Exploration for hydrogen-bearing gas pools have yet to be undertaken on the Beauchamp property, but the presence of broad shallow-dipping low conductive areas at deeper levels may reflect a highly conducting sedimentary layer or a layer containing a trapped hydorgenic gas pool. Both faults extend to the southeast, further indicating favorable conditions for generating hydrogen gas.
The Beauchamp Property's location at the northeast extent of the Cobalt Embayment, a large craton sedimentary basin, provides a shallowly dipping sedimentary rock environment that can trap hydrogen-bearing gas pools. The depth from surface to the unconformable basement contact based on geophysical data may be up to 1,000 meters below surface, indicating a significant potential reservoir. The basement rocks are exposed at the northern margin property and locally occur within the basin as uplifted inlier along cross-cutting faults, further enhancing the property's hydrogen potential.
Contemporaneous with the Beauchamp transaction, Record Resources is undertaking a non-brokered private placement of up to 11,000,000 units (the "Units") at a price of $0.03 per Unit for gross proceeds of up to $330,000 (the "Offering"). The Offering has been structured to take advantage of the listed issuer financing exemption (LIFE) whereby securities of the Company issued pursuant to the Offering will not be subject to resale restrictions. This strategic move allows Record Resources to finance its exploration efforts and further develop its hydrogen portfolio.
In conclusion, Record Resources' acquisition of the Beauchamp Property is a significant step in expanding its hydrogen exploration efforts in the Timiskaming area. The property's unique geological setting, combined with compelling geophysical data, highlights its potential for hydrogen generation and migration. The company's planned advanced geophysical analysis and field studies in 2025 will help further evaluate the potential for hydrogen generation and migration within the extension, potentially unlocking new sources of clean energy.
The Beauchamp Property, consisting of 300 claims, is situated on a broad northwesterly-trending Lake Timiskaming Rift zone, split by the Cross Lake Fault and extending northward to touch the western margin of the Lake Timiskaming Westshore fault. This unique geological setting, combined with compelling geophysical data, highlights the potential of this extension to unlock new sources of clean energy and natural renewable hydrogen. Exploration for hydrogen-bearing gas pools have yet to be undertaken on the Beauchamp property, but the presence of broad shallow-dipping low conductive areas at deeper levels may reflect a highly conducting sedimentary layer or a layer containing a trapped hydorgenic gas pool. Both faults extend to the southeast, further indicating favorable conditions for generating hydrogen gas.
The Beauchamp Property's location at the northeast extent of the Cobalt Embayment, a large craton sedimentary basin, provides a shallowly dipping sedimentary rock environment that can trap hydrogen-bearing gas pools. The depth from surface to the unconformable basement contact based on geophysical data may be up to 1,000 meters below surface, indicating a significant potential reservoir. The basement rocks are exposed at the northern margin property and locally occur within the basin as uplifted inlier along cross-cutting faults, further enhancing the property's hydrogen potential.
Contemporaneous with the Beauchamp transaction, Record Resources is undertaking a non-brokered private placement of up to 11,000,000 units (the "Units") at a price of $0.03 per Unit for gross proceeds of up to $330,000 (the "Offering"). The Offering has been structured to take advantage of the listed issuer financing exemption (LIFE) whereby securities of the Company issued pursuant to the Offering will not be subject to resale restrictions. This strategic move allows Record Resources to finance its exploration efforts and further develop its hydrogen portfolio.
In conclusion, Record Resources' acquisition of the Beauchamp Property is a significant step in expanding its hydrogen exploration efforts in the Timiskaming area. The property's unique geological setting, combined with compelling geophysical data, highlights its potential for hydrogen generation and migration. The company's planned advanced geophysical analysis and field studies in 2025 will help further evaluate the potential for hydrogen generation and migration within the extension, potentially unlocking new sources of clean energy.
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