Primary Hydrogen Corp. Expands Footprint with Wicheeda North Project Acquisition
Key Ideas
- Primary Hydrogen Corp. has executed an Option Agreement to acquire a 75% interest in the Wicheeda North project in British Columbia, aiming to assess the natural hydrogen potential alongside rare earth minerals.
- The Project, located near Prince George, BC, within a Tier 1 mining jurisdiction, offers strategic advantages and complements Primary's existing portfolio in Canada.
- The agreement includes staged cash, share, and work commitments, and upon completion, a Joint Venture will be formed to fund expenditures on a pro-rata basis.
- With a focus on exploring and developing natural hydrogen resources, Primary Hydrogen Corp. continues to strengthen its presence in the hydrogen and rare earth element sectors through strategic acquisitions and partnerships.
Primary Hydrogen Corp. has announced the execution of an Option Agreement with Power One Resources Corp. to acquire a 75% interest in the Wicheeda North project in British Columbia. The Project is strategically located in the northern Cariboo Mining Division, near the city of Prince George, and shows potential for natural hydrogen in addition to rare earth minerals. The acquisition expands Primary's presence in British Columbia and aligns with the company's focus on exploring and developing natural hydrogen resources.
The Wicheeda North project consists of nine mineral claims covering 2,138 hectares and has been the subject of various exploration programs, indicating areas of anomalous Rare Earth Element mineralization. The geological characteristics of the region suggest the potential for further mineralization expansion, making it an attractive prospect for exploration and development.
The Option Agreement outlines staged commitments for Primary to earn its interest in the Project, including cash payments, share issuance, and exploration expenditures over an 18-month period. Upon completion, a Joint Venture will be established to fund future activities on a shared basis.
Primary Hydrogen Corp.'s CEO, Benjamin Asuncion, expressed optimism about the Project's potential and highlighted the strategic advantages of the location within a Tier 1 mining jurisdiction. The company's continued focus on natural hydrogen exploration and development underscores its commitment to sustainable energy solutions and strategic positioning in the natural hydrogen and rare earth element sectors.