Calgary, Alberta--(Newsfile Corp. - March 3, 2025) - Record Resources Inc. (TSXV: REC) reports it is encouraged by the Quebec Innovative Materials Corp (QIMC) news of February 26, 2025 reflecting on the potential extent, size and value of hydrogen resources in the region of Lake Temiskaming Graben structure following their drilling success at their St-Bruno-de-Guigues property.
QIMC estimated potential hydrogen yields based on the following assumptions: i) that the porosity in the reservoir rock is fully saturated with hydrogen; ii) that the reservoir rock unit extends to a depth of 500 to 1000 meters within a five-square kilometre area.
The calculation indicates that with 1% porosity the reservoir rock could contain 17,000 tonnes of native hydrogen. This would have a value of US $171 million based on a price $5 USD/kg.
"These estimates, presented for informational purposes, highlight the theoretical resource potential within the fault-associated fracturing porosity of the Lake Timiskaming Graben, with a particular focus on the municipality of St-Bruno-de-Guigues," said QIMC CEO, John Karagiannidis.
It had been assumed by QIMC until recently that the source for hydrogen on their properties was from hydrolysis of olivine and orthopyroxene in ultramafic rocks that underlay the reservoir rock formation. At a recent meeting with the Québec Ministère de l'Économie, de l'Innovation et de l'Énergie (MEIE) on the 12th of February, 2025, QIMC presented that magnetite is also a critical mineral for hydrogen generation and that banded iron formations can become a major source for hydrogen. In addition to ultramafic rock units, extensive areas of iron formations are known to underlie the known areas of reservoir bearing units within the region of the Temiskaming Rift structure thus substantially increasing potential areas of hydrogen accumulation.
Record Resources presently holds several properties located within the Temiskaming Graben: i) the Lorrain-Bucke and the Paradis Bay properties located on the west side of Lake Temiskaming adjacent to the Lake Temiskaming West Shore fault (see news release January 14, 2025). These properties are contiguous to QIMC's St-Bruno-de-Guigues property; ii) the Beauchamp property located approximately 32 kilometres north-west from the northern tip of Lorraine-Bucke claim block, is straddled on the Cross Lake fault that parallels and lies approximately 7 kilometres west of the Temiskaming West Shore fault which also touches the north-east tip of the Beauchamp claim block (see news release February 19, 2025).
"Record Resource properties all lie within the Timiskaming Graben structure. Our properties all contain potential reservoir units. They are cut by the Temiskaming Fault systems and are underlain by iron formations and ultramafic rocks similar to the properties held by QIMC. The potential economic results reported by QIMC and their previously reported high hydrogen values (up to 7000 ppm) suggests that our properties are located in the right areas," says Michael Judson, CEO Record Resources Corp. The issuer and its qualified person has been unable to verify the information and that the information is not necessarily indicative of the mineralization on the issuer's properties
For full disclosure on the nature of the business relationship between Record Resources and QIMC, it should be noted that QIMC will soon be a major shareholder of Record following TSX-V exchange approval of the Lorrain-Bucke transaction. QIMC CEO, John Karagiannidis became a major shareholder of Record following the closing of the recently-announced Beauchamp hydrogen property acquisition. As well, QIMC's technical team has regular briefings with Record Resources' technical team.
About Record Resources Inc.
Record Resources is a Canadian exploration company (TSXV: REC). The company is focused on acquiring and developing its hydrogen and gold exploration properties. Record Resources is operated by a highly experienced and well connected management team which has access to extraordinary exploration opportunities and technical expertise. The company is also backed by an accomplished group of capital markets professionals.
Qualified Person: Edward Procyshyn, P.Geo, a qualified person in accordance with National Instrument 43-101, has reviewed and approved the technical information contained in this news release.
For more information please contact: Michael C. Judson, Chairman & CEO Record Resources Inc. T. +1-514-865-5496
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