Constellation Resources – seismic and sampling data point to large-scale natural hydrogen system at Edmund-Collier
Constellation Resources Ltd (ASX:CR1) has confirmed significant natural hydrogen (NatH₂) potential at its Edmund-Collier Project in Western Australia, following reprocessing of historical seismic data and receipt of the final batch of Total Organic Carbon (TOC) results.
The Edmund-Collier Project is the first serious attempt to explore for natural hydrogen across a vast and largely underexplored basin that has yet to see any deep drilling activity.
The absence of deep drilling to date positions Edmund-Collier as a new frontier for natural hydrogen exploration. Recent seismic cross-section interpretations indicate that the organic-rich Blue Billy and Discovery Formations extend across the Edmund-Collier Basin and may offer strong potential for large-scale natural hydrogen generation, supported by favourable source rock quality and thermal maturity analysis. Notably, the Edmund-Collier Project spans 37,288 square kilometres and is flanked by gas transmission infrastructure.
The company is now looking to start a basin-wide soil gas survey to detect potential microseepage of hydrogen and related gases.
Seismic interpretation reveals key formations and structural targets
Reprocessed seismic data has delivered enhanced geological clarity across the Edmund-Collier Basin.
Edmund Collier Conceptual Hydrogen System Against Reprocessed Seismic Image.
Seismic line 10GA-CP2, originally acquired in 2010 by Geoscience Australia and the Geological Survey of Western Australia (GSWA), transects the entire Edmund-Collier Basin and the project area. The reprocessing of this open-file dataset — led by Howman Seismic and Thunderstone Energy — aimed to optimise resolution within the top 4 kilometres. Geological interpretations were completed by Good Earth Geological Consulting and Thunderstone Energy.
The revised imaging reveals a maximum basin depth of approximately 4.2 kilometres within the Wanna Syncline, overlying the Ashburton and Gascoyne Province basement units. Notably, the organic-rich Blue Billy and Discovery Formations are interpreted to extend across the basin, thickening up to 700 metres within the syncline. These formations are considered prospective for large-scale NatH₂ generation based on favourable source rock quality and thermal maturity.
Structural targets and hydrogen system elements
The reprocessed seismic data also highlights the Godfrey and Talga Faults — deep, regional structures interpreted to extend from basement to surface. These faults represent key targets for surface soil gas sampling to assess the presence of hydrogen seepage.
Collectively, the structural and stratigraphic features identified confirm that the Edmund-Collier Project area contains all necessary elements for a viable NatH₂ system: suitable source rocks, migration pathways, reservoir rocks, sealing units and structural traps.
Hydrogen generation is anticipated from two primary sources:
- Basement rocks via radiolysis (potentially co-generating helium); and
- Thermogenic processes within organic-rich shales, further boosting the project’s exploration potential.
Thermogenic hydrogen potential
The final batch of Total Organic Carbon (TOC) results from eight diamond drill holes across the Edmund-Collier Project reaffirm for Constellation the presence of highly organic-rich shale units suitable for thermogenic hydrogen generation.
High TOC values across broad intervals
Analysis by Core Laboratories on the second batch of core samples — taken systematically from organic-rich intervals — delivered strong TOC values across several formations, notably the Discovery Formation. Key intercepts include:
- DDH2: Five samples across a 141 metre interval (0–186 metres) returned TOC values from 0.92% to 8.40%, averaging 5.24%.
- DDH3: Eight samples over 74 metres (0–115 metres) yielded 2.06% to 7.56%, averaging 4.17%.
- DH13: Five samples across 57 metres (0–78 metres) returned 2.15% to 4.29%, averaging 2.81%.
- ISBD2: Eleven samples from a 193 metre interval (0–291 metres) through the Discovery or Kiangi Creek Formation reported values between 0.49% and 5.17%, averaging 2.33%.
Favourable conditions for thermogenic hydrogen generation
The Edmund-Collier Basin, particularly within the 4 kilometre-deep Wanna Syncline, presents the thermal maturity required for hydrogen production. Scientific studies, including work by Hanson and Hanson (2023), indicate that hydrogen can be generated from the degradation of organic matter in shales subjected to temperatures between 250°C and 500°C — conditions likely met in this basin.
Underexplored hydrogen frontier
The Wanna Syncline, a major structural feature extending more than 300 kilometres east-west and 40 kilometres north-south, remains undrilled at depth. Its scale and thermal profile support its potential as a new frontier for natural hydrogen exploration in Western Australia.
Porosity results support reservoir potential across formations
Initial porosity measurements on 63 core plugs show highly variable but locally strong results across key formations. The Blue Billy Formation returned porosity values up to 6.84%, while the Discovery and Kiangi Creek Formations recorded maximums of 13.24% and 32.23% respectively. Irregully and Gooragoora Formations also yielded encouraging results up to 10.91%.
While the porosity is heterogeneous, these values indicate potential for viable hydrogen storage reservoirs. Additional sampling and analysis are planned to better understand spatial variability and connectivity within these formations. The porosity data complement TOC and seismic results, further supporting the viability of a working hydrogen system in the basin.
Forward work plan
Future work includes a basin-wide soil gas survey aimed at detecting microseepage of hydrogen and helium, followed by potential deep drilling.
The company will also progress regulatory and native title processes for its SPA-AO applications, ahead of converting tenure to a Petroleum Exploration Permit (PEP) for advanced exploration.
While the biggest news of the day was the GemLife Communities Group Ltd (ASX: GLF) IPO which saw the company surge after its ASX debut, opening at A$4.16 and finishing the day at $4.33 after being as high A$4.40 by early afternoon, there was also plenty going on in the small cap space which you can read about below.
Solis Minerals Ltd (ASX:SLM, TSX-V:SLMN, OTCQB:SLMFF) Ltd has appointed HLB Mann Judd as its new external auditor following a competitive tender process.
The decision supports the company’s TSX Venture Exchange delisting and re-domicile to Australia. The appointment is subject to shareholder ratification at the next Annual General Meeting.
GemLife Communities Group Ltd (ASX: GLF) has surged more than 5% in its ASX debut, opening at A$4.16 and trading around A$4.40 by early afternoon. The listing gives the over-50s lifestyle resort operator a market capitalisation of approximately A$1.58 billion, making it the largest initial public offering (IPO) on the ASX this year.
The company raised A$750 million through the IPO, outpacing Virgin Australia’s A$685 million float last month, although the airline’s valuation remains nearly double that of GemLife.
Domino’s Pizza Enterprises (ASX:DMP) is at the centre of a sharp market debate after its share price plummeted to an 11-year low on the shock resignation of its chief executive officer. While Citi has downgraded the stock to Sell, other firms are taking a more tempered stance, with Evans & Partners and Barrenjoey lifting their ratings to Neutral and Overweight respectively.
Morningstar slashed its fair-value estimate by 21% to $46 — still well above Wednesday’s close of $16.96. Despite the sharp revision, analyst Johannes Faul believes the sell-off may be overdone.
Surefire Resources NL (ASX:SRN)’s ongoing moving-loop ground electromagnetic (MLEM) geophysical survey at its Copper Hill Project is “progressing steadily with no delays”, the company said in a progress update on Thursday.
The survey — designed by Southern Geoscience Consultants (SGC), which reported the survey’s smooth progress, according to Surefire — aims to delineate and prioritise conductive anomalies linked to copper sulphide mineralisation, setting the stage for future drill testing at the project, in Western Australia’s Murchison region.
Titan Minerals Ltd (ASX:TTM, OTC:TTTNF) has unveiled strong results from its ongoing exploration at the Iguana prospect, part of its Dynasty Gold Project in Peru. Recent trenching and mapping work has extended the mineralisation up to 800 metres from the defined resource, confirming further growth potential and setting the stage for an upcoming resource update.
Livium Ltd (ASX:LIT, OTC:LMMFF) chief executive officer Simon Linge has reaffirmed the company’s strategic direction as it begins the 2026 financial year, emphasising the group’s transition toward a recycling-centric business model. In a shareholder letter, Linge said the core divisions – Battery Recycling, Battery Materials, and Lithium Chemicals – remain integral, but battery recycling is now the company’s primary growth focus.
He said, highlighting the strong performance of the Battery Recycling division over the past six months,
Our move towards a recycling-centric model enables us to better leverage Livium’s expertise and supply chain,
Cobalt Blue Holdings Ltd (ASX:COB, OTC:CBBHF) has received a three-year extension to Major Project Status for its flagship Broken Hill Cobalt Project in New South Wales. Originally granted in March 2022, the renewal reflects the Commonwealth Government’s continued recognition of the project’s national significance to Australia’s critical minerals sector.
Major Project Status brings enhanced regulatory support at a federal level, improving the project’s prospects for advancing into development. It also bolsters COB’s other initiatives, including the proposed Kwinana Cobalt Refinery and the Broken Hill Technology Centre.
Resolution Minerals Ltd (ASX:RML, OTC:RLMLF) is gearing up to kick off its maiden exploration program at the Horse Heaven Gold, Antimony, Silver, and Tungsten Project in Idaho, USA, with work set to begin this month.
The project, located in the historically significant Stibnite Mining District, is strategically positioned adjacent to Perpetua Resources’ $2 billion Stibnite Gold Mine, offering exciting exploration potential.
Constellation Resources Ltd (ASX:CR1) has confirmed significant natural hydrogen (NatH₂) potential at its Edmund-Collier Project in Western Australia, following reprocessing of historical seismic data and receipt of the final batch of Total Organic Carbon (TOC) results.
The Edmund-Collier Project is the first serious attempt to explore for natural hydrogen across a vast and largely underexplored basin that has yet to see any deep drilling activity.
Rapid Critical Metals Ltd (ASX:RCM) has reached an agreement to sell its Tin Mountain property, located in South Dakota, United States, to a subsidiary of IRIS Metals Ltd (ASX:IR1).
The transaction includes the sale of 93 federal mining claims covering a total of 752 hectares, held by Rapid Critical Metals subsidiary South Dakota Operations LLC, and marks a strategic move for both companies in the exploration sector.
Transaction details
Under the terms of the agreement, Iris Metals will pay consideration in both cash and shares for the Tin Mountain property.
The deal includes a share issuance of US$550,000, payable in Iris Metals shares, based on the 30-day Volume-Weighted Average Price (VWAP) up to June 29, 2025. At an estimated VWAP of A$0.113 per share, this equates to 7,455,912 shares, subject to approval at Iris Metals’ annual general meeting (AGM), scheduled for August 29.
In addition to the share issuance, Iris Metals has agreed to a cash payment of US$300,000 to the original claim vendor, F3 Gold LLC, which was completed on June 30. This arrangement provides Rapid Critical Metals with liquidity while advancing its strategic portfolio.
The agreement also includes a royalty provision, where F3 Gold LLC will retain a 2% gross revenue royalty on future production from the Tin Mountain project. This ensures a low-cost structure for Iris Metals as it proceeds with its exploration efforts at the site.
Strategic implications
The divestment allows Rapid Critical Metals to streamline its portfolio and focus on advancing its other exploration initiatives. The transaction provides liquidity through the cash payment and share issuance, while the royalty arrangement offers potential future revenue streams.
For Iris Metals, the acquisition of the Tin Mountain property aligns with its strategy to expand its footprint in the Black Hills region. In January 2024, the company secured the Tin Mountain patents, with a three-year initial access period and the right to purchase.
The project is situated approximately 12 kilometres from Iris’s Beecher Project, enhancing the potential for a centralised processing facility. The proximity to existing infrastructure and the presence of lithium spodumene mineralization in the area support the company’s objective of advancing near-term lithium production.
Moody’s Ratings has revised its credit outlook for Asia-Pacific (APAC) sovereigns from stable to negative, citing mounting risks from escalating trade tensions and geopolitical volatility.
The shift in US trade policy, particularly the sweeping imposition of higher tariffs and subsequent negotiations, has injected unprecedented uncertainty into global trade, with significant disruptions expected for APAC economies. These shifts are set to reverberate through investment flows and fiscal stability, threatening to undermine growth prospects across the region.
Trade policy uncertainty weighs on growth prospects
According to Moody’s analysts, the US tariffs unleashed in April 2025 have sparked severe uncertainty over trade policies, prompting lower growth expectations for APAC economies. As a result, Moody’s has downgraded its GDP growth forecasts for 2025 and 2026 for 20 out of the 25 rated APAC economies.
Moody’s analysts wrote in the update,
Uncertainty about trade policy and a potential overhaul of global trade have raised cyclical and possibly structural credit risks in APAC,
“A weaker external and investment outlook has tempered growth expectations, while countercyclical policy responses could hinder fiscal consolidation efforts.”
Economies like China, Taiwan and Vietnam, which rely heavily on exports, are expected to experience slower growth. China’s growth forecast for 2025 has been slashed to 3.8%, down from 4.5%, with a weakened outlook extending into 2026.
The long-term risks of tariff-driven trade shifts
The tariffs represent a significant long-term credit risk for economies that have capitalised on shifts in manufacturing investment away from China. Countries like Cambodia and Vietnam, which have attracted substantial foreign investment, are particularly exposed to the impact of higher tariffs.
Moody’s, said:
Higher tariffs could harm the attractiveness of some APAC economies, leading to a structural decline in foreign investment that undermines long-term growth,
Cambodia, for example, has heavily relied on foreign direct investment (FDI) to power its export manufacturing sector. The 49% tariff imposed on Cambodian exports to the US could drastically curb investment flows into the country.
Similarly, Vietnam’s standing as a manufacturing hub is under threat from continued tariff uncertainty, although it is in a somewhat stronger position due to its broader export base and trade agreements.
Monetary and fiscal policy adjustments amidst weaker growth
In response to the mounting economic challenges, Moody’s expects APAC central banks to adopt more accommodative monetary policies. Analysts predict interest rate cuts throughout the second half of 2025 as growth prospects dim.
The analysts, noted:
We expect many APAC central banks to resume rate cuts over the second half of 2025 as economic conditions slow,
Fiscal responses will also vary, with some governments introducing more spending to support growth. China, for instance, has significantly widened its fiscal deficit, while South Korea unveiled a supplementary budget worth KRW 20.2 trillion in June.
However, this ramped-up fiscal spending risks complicating efforts to achieve fiscal consolidation across the region.
Liquidity risks for frontier markets
Financial markets in APAC have experienced heightened volatility amid trade uncertainties, making borrowing conditions increasingly difficult — particularly for lower-rated frontier economies. Moody’s analysts caution that countries with substantial external debt challenges, such as Bangladesh, Sri Lanka and Mongolia, face greater liquidity risks.
The analysts, said:
Weakened financial conditions are raising liquidity risks, especially for lower-rated frontier markets,
These economies, which are already grappling with limited foreign exchange reserves, are vulnerable to rising borrowing costs as global financial conditions tighten.
Geopolitical uncertainties amplify challenges
Alongside trade disruptions, geopolitical tensions between the US and China are compounding the region’s challenges. The US has urged its regional allies to ramp up defence spending in response to rising geopolitical tensions, potentially diverting fiscal resources from economic growth.
Moody’s, said, noting the growing difficulty for governments to balance economic goals with the need to boost defence budgets,
Geopolitical shifts will test APAC economies,
Countries such as Japan, South Korea and Taiwan are already ramping up defence spending, which could place further strain on their fiscal policies and limit their ability to support growth.
The negative outlook for APAC’s creditworthiness is driven by a perfect storm of trade disruptions, weakened growth prospects and rising geopolitical risks. While Moody’s sees the potential for an improved outlook, it said the region’s vulnerabilities are likely to persist unless these uncertainties are resolved.
The analysts, concluded:
We would revise the outlook back to stable if trade talks significantly reduced US tariffs, stabilising growth prospects and funding conditions,
“Conversely, an escalation in tariff rates, a sharp rise in spreads or protracted geopolitical conflicts would deepen the negative bias and trigger worsening credit conditions.”
Biotech company Prescient Therapeutics has now opened its Share Purchase Plan (SPP) to raise up to A$7 million – which will go toward ongoing Phase 2 trials of PTX-100, a targeted cancer therapy aimed at treating Cutaneous T-Cell Lymphoma.
Shares will be priced at 4 cents – representing a 16.7% discount to the 15-day volume weighted average price of Prescient.
Prescient’s PTX-100 has already obtained Orphan Drug and Fast Track designations from the United States Food and Drug Administration (FDA) and has demonstrated promising safety and efficacy in prior studies.
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Constellation Resources – seismic and sampling data point to large-scale natural hydrogen system at Edmund-Collier, source
