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Canada Nickel, GeoRedox Sign MOU to Develop Geologic Hydrogen Program at Crawford Nickel Project

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Canada Nickel Company (CNC.V) is partnering with GeoRedox to develop a stimulated geologic hydrogen well on the site of the Crawford Nickel Project in Ontario, the company said on Wednesday.

Both companies have signed a memorandum of understanding. The project, described as a world first, will test GeoRedox's technology for producing zero-carbon hydrogen from ultramafic rock formations and is a key step toward a zero-carbon industrial cluster in Northeast Ontario, a statement said.

GeoRedox will fund the demonstration program. Canada Nickel will contribute site access, rock samples, technical expertise, data, and other resources necessary for project planning and implementation at Crawford. If successful, the program can provide a large-scale, carbon-free hydrogen supply for a zero-carbon industrial cluster in the Timmins Nickel District, the companies added.

"The ultramafic rock that hosts our Crawford deposit and twenty-plus projects across the Timmins Nickel District is precisely the geology GeoRedox's technology is designed for," said Canada Nickel chief executive Mark Selby. "This partnership brings us a significant step closer to a Zero-Carbon Industrial Cluster in Northeast Ontario - one that converts our concentrates into finished critical mineral products including nickel, chromium and cobalt, while leveraging the region's significant carbon storage capacity."

Canada Nickel shares closed down $0.05, to $1.65 on Tuesday on the Toronto Stock Exchange.

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