Capitalizing on Green Hydrogen Storage in Canada

Atco Mining Inc. (CSE: ATCM)(OTC: ATMGF) — currently trading around C$0.20 per share — has announced that final interpretation of a recently completed airborne survey at its portfolio of 100%-owned salt projects in Newfoundland, Canada, has confirmed the presence of multiple high-priority, oval-shaped gravity anomaly targets. 

Atco’s primary focus is on delineating large salt dome structures on its properties for potential use in underground hydrogen storage. Hydrogen, while having the potential to deliver sustainable, efficient, and affordable energy at scale, is very expensive to store and transport. Salt domes offer a proven, cost effective solution to hydrogen storage prior to maritime export. 

The Atco team’s interpretation of the 3D modeling suggests that multiple salt dome structures may be present at a depth as shallow as 300 to 400 meters below surface and extending up to ~1,600 meters below surface. 

Of the two primary anomalies identified, the Golden Target anomaly is approximately 3 x 1.5 km in size and has a strong correlation with the magnetic-low signature. The second anomaly, Baldy Target, is approximately 6 x 1.5 km in size.

Atco Mining identified two anomalies - the Golden Target and the Baldly Target.

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Atco Mining director Neil McCallum — a name you may recognize from our ongoing coverage of Q2 Metals and whom you’re about to hear from directly in our exclusive interview — commented via press release: 

“I am very pleased with the results of the interpretation of the recent survey results. They tell us exactly what we were hoping to see, which is a series of gravity and magnetic-low features that are consistent with the interpretation of salt-dome structures.”

The release goes on to explain that the size and geometry of the gravity feature is similar to Atlas Salt’s Fischell’s Brook Salt Dome gravity anomaly (measuring 4.1 x 1.3 km in size and denoted in the property map below), which is situated ~15 km north of Atco’s Golden Target anomaly.

The size and geometry of the gravity feature is similar to Atlas Salt’s Fischell’s Brook Salt Dome gravity anomaly

Exploration drilling at Fischell’s Brook has intercepted salt starting at a depth of 360 meters below surface, which is certainly something the ATCM team will have in mind as it moves toward Phase-1 drilling at its own targets, potentially, as early as this summer. 

Although at different stages of exploration, when comparing market valuation, Atlas Salt has a current market cap of over C$100 million while Atco is currently sitting well below C$10 million.

And while salt typically isn’t the first thing resource speculators think of when seeking out early-stage opportunities in the junior mining space, Atco Mining’s outside-the-box strategy within the St. George’s Bay Basin in southwestern Newfoundland presents a potential early-mover advantage in the growing hydrogen storage arena as demand for the clean-burning fuel intensifies. 

In terms of the process, once a viable salt dome or cavern is discovered, next steps involve drilling into the salt and then injecting water into the salt to dissolve it. The resulting brine is then extracted, leaving room for a large, tight cavern where hydrogen can be stored under pressure until ready for transport. 

Capitalizing on Green Hydrogen Storage in Canada.

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Recent studies confirm that green hydrogenhydrogen produced by splitting water into hydrogen and oxygen using renewables — could supply up to 25% of the world’s energy needs by 2050. The fuel is expected to play an essential role in the future energy mix from fueling automobiles, trains, and ships to generating electricity and heating homes and buildings.

Yet, increased green hydrogen demand also means there’s going to be a need for increased storage capacity in the coming years and decades. To that end, underground hydrogen storage in giant salt caverns is emerging as a viable solution that Atco Mining intends to capitalize on to the benefit of ATCM / ATMGF shareholders. 

In fact, as you’re about to discover in our exclusive interview coming right up, the government of Newfoundland is moving forward with plans to use the province’s vast wind energy resources to power the production of green hydrogen and other gases.

And therein lies the opportunity for Atco — in relation to that forthcoming production — for potential green hydrogen storage in salt caverns located on its properties if confirmed through further exploration and drilling. We’ll continue to keep you posted as boots-on-the-ground exploration heats up. 

Additionally, the Atco team is pleased to announce the commencement of active trading on the US OTC exchange under the symbol ATMGF. Neil McCallum added: 

“This is also an extremely positive step forward for us. This will enable us to broaden our exposure in the United States as we look to boost our profile among investors around the world. We’re committed to growing our audience and this is an important step towards achieving that goal.”

For a firsthand look at the early-stage opportunity at-hand, our own Gerardo Del Real of Junior Resource Monthly caught up with Atco Mining director Neil McCallum to go over the newly identified targets, plus next steps in the exploration process in St. George’s Bay, Newfoundland, Canada. Please enjoy!

For additional information on Vancouver-based Atco Mining, be sure to call Etienne Moshevich at the company’s IR department at 604-512-5624 or contact via email at

Mike Fagan

Mike Fagan
Editor, Resource Stock Digest