Granite Creek Collaborates with New England Research on Geologic Hydrogen

Rhea-AI Summary

Granite Creek Copper (TSXV:GCX)(OTCQB:GCXXF) has completed work at its Star project in British Columbia, Canada, focusing on rock and soil sampling in an area prospective for Ni-Cu-PGM mineralization. The company is collaborating with New England Research Inc. (NER) to study the potential for geologic hydrogen (Geo H2) production at the site.

NER is leading a $1.5 million project funded by the U.S. Department of Energy to develop technologies for subsurface hydrogen production. Granite Creek's samples will be used for laboratory analysis to optimize engineered stimulation of subsurface hydrogen. This collaboration aims to explore the potential of Alaskan-type ultramafic intrusions for producing economic amounts of clean, sustainable hydrogen.

While pursuing this new opportunity in Geo H2, Granite Creek remains focused on its high-grade Carmacks copper-gold project in Yukon, Canada, where assays from 2024 drilling are pending.

Positive

• Collaboration with New England Research Inc. on geologic hydrogen production potential
• Participation in a $1.5 million U.S. Department of Energy funded project
• Potential for economic production of clean, sustainable hydrogen at the Star project
• Ongoing development of high-grade Carmacks copper-gold project with pending assays

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / October 16, 2024 / Granite Creek Copper Ltd. (TSXV:GCX)(OTCQB:GCXXF) ("Granite Creek" or the "Company") is pleased to announce the of the completion of work at the Company's copper-nickel-PGM Star project, located in the Polaris ultramafic complex of north-central British Columbia, Canada. The program consisted of rock and soil sampling focused on an area of the project underlain by dunite ultramafic rock that is prospective for Ni-Cu-PGM mineralization. In addition to sending samples to the laboratory for Ni-Cu-PGM analysis, Granite Creek is also providing samples of various rock types to New England Research Inc. (NER) to study the potential for geologic hydrogen (Geo H2) production at Star.

NER is a Vermont-based research and development company leading a recently funded $1.5 million project as part of a U.S. Department of Energy (DOE) Advanced Research Projects Agency (ARPA-E) Geologic Hydrogen program. These samples from Star will be used for laboratory analysis and testing to aid in the design and optimization of engineered stimulation of subsurface hydrogen. (See figure 1) Engineering the production of subsurface hydrogen could potentially unlock a substantial resource for clean energy and lead to the decarbonization of some of the most challenging industries.

The NER team, which also includes scientists from Missouri University of Science and Technology (MS&T) and engineers from OptiRock Group LLC., will develop state-of-the-art testing protocols and fit-for-purpose modeling techniques to identify and assess sites where geologic hydrogen could be stimulated. The technologies will be commercialized through a series of paths, including measurement equipment, measurement and modeling services, characterization workflows, and solicitation of Phase III funding for field demonstration and deployment.

Dr. Gregory Boitnott, Vice President of Technology at NER and Principal Investigator on the project stated, "Inclusion of the samples provided by Granite Creek provides a unique opportunity to apply our developing technologies to Alaskan-type ultramafic intrusions, a potentially important future class of deposits where it may be possible to produce economic amounts of clean sustainable hydrogen."

Tim Johnson, President and CEO of Granite Creek stated, "Geologic hydrogen is an exciting new field with the potential to significantly lower the cost of hydrogen production and assist in de-carbonization of some hard-to-mitigate industries. We are fortunate that our Star project has potentially the right geological setting for this groundbreaking technology and look forward to receiving the results of the testing. The Company remains focused on our high-grade Carmacks copper-gold project in Yukon, Canada, where assays from 2024 drilling are pending while also investigating additional opportunities in Geo H2."

Figure 1 Concept being researched by NER and OptiRock Group

About Granite Creek Copper

Granite Creek Copper, a member of the Metallic Group of Companies, is a focused on the exploration and development of critical minerals projects in North America. The Company's projects consist of its flagship 177 square kilometer Carmacks project in the Minto copper district of Canada's Yukon Territory on trend with the formerly operating, high-grade Minto copper-gold mine and the advanced stage LS molybdenum project and the Star copper-nickel-PGM project, both located in central British Columbia. More information about Granite Creek Copper can be viewed on the Company's website at www.gcxcopper.com.

FOR FURTHER INFORMATION PLEASE CONTACT:

Timothy Johnson, President & CEO
Telephone: 1 (604) 235-1982
Toll Free: 1 (888) 361-3494
E-mail: info@gcxcopper.com
Website: www.gcxcopper.com

Qualified Person

Debbie James P.Geo, has reviewed and approved the technical information pertinent to Ni-Cu-PGM mineralization contained in this news release. Ms. James is a Qualified Person as defined in NI 43-101.

Forward-Looking Statements

Forward Looking Statements: This news release includes certain statements that may be deemed "forward-looking statements" or "forward-looking information". All statements in this release, other than statements of historical facts including, without limitation, statements regarding expected use of proceeds from the private placement and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Granite Creek Copper believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Granite Creek Copper and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedarplus.ca.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Granite Creek Copper Ltd.

View the original press release on accesswire.com

FAQ

What is Granite Creek Copper's stock symbol on the OTCQB?

Granite Creek Copper's stock symbol on the OTCQB is GCXXF.

What is the focus of Granite Creek's collaboration with New England Research Inc.?

The collaboration focuses on studying the potential for geologic hydrogen (Geo H2) production at Granite Creek's Star project in British Columbia.

How much funding did the U.S. Department of Energy provide for the geologic hydrogen project?

The U.S. Department of Energy provided $1.5 million in funding for the geologic hydrogen project led by New England Research Inc.

Where is Granite Creek's Star project located?

The Star project is located in the Polaris ultramafic complex of north-central British Columbia, Canada.