Primary Hydrogen's Strategic Move in British Columbia
Key Ideas
  • Primary Hydrogen Corp. has secured a 75% interest in the Wicheeda North project in British Columbia through an Option Agreement with Power One Resources Corp.
  • The project area shows potential for both natural hydrogen and rare earth minerals, further expanding Primary's presence in BC and in a Tier 1 mining jurisdiction.
  • The Wicheeda North project, located in the northern Cariboo Mining Division, presents significant geological advantages and has the potential to host significant rare earth mineralization.
  • The transaction terms include staged cash, share, and work commitments, with Primary intending to invest C$1.5 million in exploration expenditures over an 18-month term to earn its interest in the project.
Primary Hydrogen Corp., a company based in Calgary, Alberta, 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, covering an area of 2,138 hectares in the northern Cariboo Mining Division, is strategically located 80km north of Prince George. The company aims to evaluate the natural hydrogen potential of the project along with the opportunity for significant rare earth mineralization. The Wicheeda North project has been the focus of various exploration programs, revealing three areas of anomalous rare earth element mineralization in the soils. The property is situated in a geological belt known for hosting rare earth mineralization, adjacent to the Wicheeda Rare Earth Element deposit owned by Defense Metals Corp. The transaction includes staged cash, share, and work commitments, with Primary committing to invest C$1.5 million in exploration expenses over 18 months. The executive team at Primary Hydrogen Corp. expressed enthusiasm about the project, highlighting its strategic location in a Tier 1 mining jurisdiction with ample logistical and infrastructure advantages. The company plans to leverage its expertise and resources to unlock the full potential of the Wicheeda North project, further consolidating its position in the region's mining sector.
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