Nov 10, 20223 min
Québec Silica Resources, a mineral exploration and development company focused on exploring, developing, and acquiring industrial mineral resources in Québec, has acquired its first three mineral claim properties in Québec, which are prospective for hydrogen and helium. The team has solid geological and geophysical experience in the regions of the newly acquired claims, where they have carried out more than six years of geophysical and geochemical work and collected thousands of C1-C4 Soil-Gas analyses.
Press Release:
Québec Silica Resources Corp is pleased to announce it has acquired its first three mineral claim properties in the Canadian province of Québec, which are prospective for hydrogen and helium.
Collaboration with the Institut national de la recherche scientifique on the Company's flagship silica project over the last year has led to another collaborative opportunity between QTZ and Dr. Marc Richer-Lafleche, P.Geo. QTZ plans to fund a geoscientific study to evaluate the potential of natural geologically occurring hydrogen and helium in Québec, starting with the Company's first three properties.
"It is exciting because, as far as we know, we are one the first companies to explore for naturally occurring hydrogen in Québec," stated Raymond Wladichuk, P.Geo., CEO of QTZ.
About naturally occurring hydrogen and helium
Naturally occurring hydrogen and helium form from chemical and nuclear reactions deep underground. It is an attractive, sustainable energy option because, in addition to being a clean fuel, hydrogen may occur as a modern-day replenishing resource, unlike a hydrocarbon reservoir (natural gas, oil, etc.) which depletes.
Helium is a noble gas with distinctive chemical and physical properties for different scientific, industrial and bio-medical applications. It is an essential element of medical scanners (magnetic resonance imaging, MRI), which is used to cool powerful magnets. Liquid helium is also used to cool certain metals to the extremely low temperatures required for electrical superconductivity. Furthermore, Helium is used as a protective atmosphere during the growth of monocrystalline silicon intended to manufacture integrated circuits and optical fibres.
The government of Québec has recently announced the Québec Green Hydrogen and Bioenergy Strategy, which has the purpose of creating a favourable environment to accelerate the production, distribution, and use of hydrogen. More information can be found through this link: Québec Green Hydrogen Strategy
Terms of the property acquisition
Pursuant to the property acquisition agreement dated November 7, 2022, and subject to the satisfaction of all closing conditions and the receipt of applicable regulatory approvals including that of the Canadian Securities Exchange ("CSE"), QTZ has agreed to acquire the properties from an arm's length vendor in consideration for the issuance of an aggregate of 5,000,000 common shares of the Company, at an issue price of $0.07 per share, and a 1% royalty on gross revenues from the sale of pure hydrogen arising from the lands underlying the properties. The properties consist of a total of 248 mineral claims totalling 14,257 hectares. The securities issued pursuant to the Agreement will be subject to a four month hold period in accordance with applicable securities laws and the policies of the CSE.
About the INRS and Dr. Marc Richer-Lafleche, P.Geo.
Dr. Richer-LaFlèche's team has solid geological and geophysical experience in the regions of the newly acquired claims, where they have carried out more than six years of geophysical and geochemical work and collected thousands of C1-C4 Soil-Gas analyses. In addition, the INRS team has several portable gas spectrometers and the sampling equipment and logistics necessary for taking gas samples and geophysical measurements on the ground or in the aquatic environment.
About Québec Silica Resources Corp.
Québec Silica Resources Corp. is a mineral exploration and development company focused on exploring, developing, and acquiring industrial mineral resources in Québec, Canada. The Company is currently focused on its wholly-owned Charlevoix Silica Project near St. Urbane, Québec, Canada, and has a portfolio of multiple silica properties in Québec.