Buscando Resources Corp. Acquires Element One Hydrogen Ltd. for Clean Energy Initiative
Key Ideas
  • Buscando Resources Corp. has acquired 100% of Element One Hydrogen Ltd., a subsidiary of Granite Creek Copper Ltd., to expand its critical minerals asset base and delve into clean energy initiatives.
  • The acquisition includes the Star copper-nickel-PGM project in British Columbia and the Union Bay nickel-copper-PGM project in Alaska, which have the potential to utilize hydrogen stimulation technologies for natural hydrogen production.
  • Buscando's president, Kyler Hardy, emphasized the synergies between the Star Project and the company's Foggy Mountain project, highlighting plans for field work and exploration in both locations.
  • In addition to the acquisition, Buscando intends to complete a private placement to raise funds for the Acquisition, phase 1 work program on Foggy Mountain Property, potential property acquisitions, and general administrative expenses.
Buscando Resources Corp. has announced the acquisition of 100% of Element One Hydrogen Ltd., a subsidiary of Granite Creek Copper Ltd., in a strategic move to enhance its critical minerals asset base and venture into clean energy initiatives. Element One owns the Star copper-nickel-PGM project in British Columbia and the Union Bay nickel-copper-PGM project in Alaska. These projects, situated in ultramafic settings, offer the opportunity to leverage novel hydrogen stimulation technologies for natural hydrogen production. The acquisition aligns with Buscando's goal to support the global energy transition. The Star Project, located in northern British Columbia, and the Union Bay Project in Alaska showcase promising mineral potential and the capacity for producing hydrogen from subsurface rock formations. The proximity of the Star Project to the Omineca resource road and hydro-electric power provides logistical advantages for future development. Buscando's president highlighted the logistical synergies between the Star Project and the company's flagship Foggy Mountain project, emphasizing plans for exploration and field work. Aside from the acquisition, Buscando plans to conduct a private placement to raise funds. The offering includes up to 5,000,000 units at $0.20 per unit, with proceeds intended for various purposes, including the acquisition payment, Foggy Mountain Property work program, exploration of potential property acquisitions, and general administrative expenses. The private placement is expected to close by May 23, 2025, subject to necessary approvals. In summary, Buscando's acquisition of Element One Hydrogen Ltd. marks a strategic step towards expanding its portfolio in critical minerals and embracing clean energy solutions. The company's proactive approach towards exploration and investment in hydrogen technology signifies a positive outlook towards sustainable energy initiatives.
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