Categories: Energy
Topics: General Energy

Canada’s Giant Salt Domes: A Key Green-Energy Opportunity

Atco Mining Inc. (CSE: ATCM)(OTC: ATMGF) — currently trading undiscovered around C$0.14 per share — has confirmed a high-priority gravity-low anomaly consistent with the interpretation of a salt-dome structure at its 100%-owned, 1,000-hectare Flat Bay salt dome project in St. Georges Bay Basin, southwestern Newfoundland, Canada.

Further, recently completed 3D modeling at the company’s 100%-owned, 10,575-hectare Eagle salt dome project has identified multiple potential salt dome structures (Golden & Baldy targets) warranting further investigation. 

To that end, Atco Mining, which has a current market cap well below C$5 million, has tapped industry leader RESPEC Consulting Inc. to initiate a comprehensive program to determine the extent at which Atco’s properties hold similar geological characteristics to other major salt dome structures in the basin.

Atco Mining director Neil McCallum commented via press release: 

“The recent interpretation of the modern historical data supports our view that the Flat Bay target has the characteristics to host a salt dome of significant scale. We will continue to integrate this information with other available datasets, such as the seismic surveying completed in 2005.”

Salt domes, or salt caverns, are ideal for “green hydrogen” underground storage, which is hydrogen produced by splitting water into hydrogen and oxygen using renewables such as wind-generated electricity. Recent studies confirm that green hydrogen could supply up to 25% of the world’s energy needs by 2050.

St. Georges Bay Basin — where Atco has amassed its impressive portfolio of eight 100%-owned projects spanning 21,450 hectares — is fast-becoming a new global epicenter of green hydrogen production and storage due to the region’s vast wind resources and giant salt dome structures. 

With billions of investment dollars already flowing into the region, Newfoundland’s government has now selected nine companies (following proposals submitted by 19 energy firms) as finalists to build large-scale green hydrogen projects on Crown land in Newfoundland and Labrador. A final decision could come as early as next month. 

One of those nine finalists is World Energy GH2, which has launched a C$16B project to produce 250,000 tonnes of green hydrogen annually from a new facility powered by wind turbines on Newfoundland’s west coast and in Labrador. 

That one project alone shows the sheer magnitude of the green hydrogen trend that’s rapidly emerging on Canada’s eastern seaboard. 

Atco Mining CEO Etienne Moshevich — whom you’re about to hear from directly in our exclusive interview — added: 

“This is an amazing announcement. I am elated with this news as it proves that the Government of Newfoundland is steadfast on not only creating jobs for the area in addition to attracting billions of dollars of investment. If and when this is finalized and bids are given, this would be an extremely positive sign for Atco as we look to define our salt caverns and position ourselves as the go-to storers of hydrogen in the area.”

Next steps for Atco include further exploration and modeling of multiple high-priority salt dome targets at the Flat Bay and Eagle properties, which is underway via the aforementioned collaboration with RESPEC Consulting and which should lend to an uptick in news flow for Atco over the coming weeks and months.  

To get all the skinny, our own Gerardo Del Real of Junior Resource Monthly caught up with Atco Mining CEO Etienne Moshevich to go over all of the exciting developments in and around the Atco camp. Please enjoy! 

For additional information on Vancouver-based Atco Mining, be sure to contact the company’s IR department at 604-512-5624 or via email at info@atcomining.com.

Sign up to receive updates directly from the company at the Atco Mining corporate website.

Mike Fagan
Editor, Resource Stock Digest