First Atlantic Nickel Acquires Ophiolite-X Project Targeting White and Orange Geologic Hydrogen, Carbon Capture, and Critical Minerals in Western Newfoundland

First Atlantic Nickel Acquires Ophiolite-X Project Targeting White and Orange Geologic Hydrogen, Carbon Capture, and Critical Minerals in Western Newfoundland

GRAND FALLS-WINDSOR, Newfoundland and Labrador, Dec. 11, 2025 (GLOBE NEWSWIRE) — First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) (“First Atlantic” or the “Company”) is pleased to announce it has entered into agreements to acquire a 100% interest in 18 mineral licenses comprising 500 mineral claims (covering 12,500 hectares or 125 km²) within the Blow Me Down and Lewis Hills massifs in the Bay of Islands Ophiolite Complex (“BOIC”) in western Newfoundland. The Company has branded this strategic land position as the “Ophiolite-X” project, recognizing its multi-commodity potential spanning geologic (natural and stimulated) hydrogen, carbon capture and storage, awaruite nickel-iron-cobalt alloy mineralization, chromite, cobalt, copper, and platinum group elements (“PGEs”). Peer-reviewed research by Memorial University has calculated theoretical CO₂ storage capacity for the entire BOIC equivalent to more than 13 years of global emissions¹ (source link), while natural springs within the complex discharge dissolved hydrogen generated through active serpentinization² (source link). This process is of such scientific significance that NASA researchers have identified the Tablelands massif in the BOIC as a Mars analogue site for studying serpentinizing environments³.

The BOIC comprises four large-scale ophiolite massifs, Table Mountain (Tablelands), North Arm Mountain, Blow Me Down Mountain, and Lewis Hills, representing one of the world’s best-preserved and most complete ophiolite sequences. A recent study with funding from the Ministère de l’Économie, de l’Innovation et de l’Énergie (MEIE) of Quebec, evaluating natural hydrogen potential across Quebec (Séjourné et al., 2024), noted that the “potential for natural hydrogen in southern Quebec is not necessarily limited to these areas. Key areas of interest include: 1) ophiolite complexes, which are correlative with the Bay of Islands complex in Newfoundland where Szponar et al. (2013) sampled strongly alkaline and highly reducing water sources containing dissolved hydrogen⁴.”

In the Stanford University study Techno-economic analysis of natural and stimulated geological hydrogen (Mathur et al., 2024⁵), researchers concluded that “While both natural and stimulated geological hydrogen present viable options for contributing to a sustainable energy future, practical considerations such as resource availability, production control, and scalability make SGH a particularly attractive option for long-term hydrogen production, especially when co-located with demand centers.” The study estimates production costs of approximately $0.54/kg for natural geological hydrogen and $0.92/kg for stimulated geological hydrogen, both below the U.S. Department of Energy’s $1/kg target⁶.

KEY HIGHLIGHTS:

1. Optimal Geological Hydrogen Source Rock: A 2024 study, with funding from the Government of Quebec, evaluating 27 potential natural hydrogen source rocks, identified ophiolite complexes as the first key area of interest for geologic hydrogen exploration, with the BOIC as the reference analogue. Documented occurrences include “strongly alkaline and highly reducing water sources containing dissolved hydrogen⁷“, positioning the BOIC as the type locality for hydrogen-prospective ophiolites in eastern Canada.
2. Active Geologic Hydrogen Generation: Active serpentinization within the BOIC produces dissolved hydrogen (H₂) in ultrabasic springs, where highly reducing conditions and pH values up to 12.3 are conducive to ongoing abiotic natural hydrogen production⁸.
3. Bulqiza Chromite Mine Hydrogen Discovery Analogue: Historic podiform chromite mineralization at Blow Me Down (32-40% Cr₂O₃, mined in 1918)⁹ and Springers Hill (up to 53% Cr₂O₃ in harzburgite)¹⁰ occur within serpentinized dunite-harzburgite sequences similar to Albania’s Bulqiza mine in the Mirdita Ophiolite, where chromite (33-54% Cr₂O₃) is hosted in serpentinized harzburgite-dunite. A 2024 Science publication documented hydrogen with a purity of 84% venting at an estimated 200 tonnes per year from Bulqiza, one of the largest flows ever recorded, and noted that “places with similar geology should be good targets for finding other natural sources of hydrogen¹¹.”
4. Samail Ophiolite Stimulated Hydrogen Analogue: The BOIC shares similar geological characteristics with Oman’s Samail Ophiolite, including serpentinized peridotite sequences, brucite-bearing alteration assemblages and hyperalkaline, hydrogen-producing springs. In 2023, Eden GeoPower signed the world’s first agreement with Oman’s Ministry of Energy and Minerals to pilot stimulated geological hydrogen production in the Samail Ophiolite, positioning ophiolite complexes as optimal targets for both natural hydrogen exploration and stimulated production.
5. CO₂ Capture Industrialization Potential: Memorial University researchers conclude that, by “injecting CO₂-enriched waters into the subsurface, this process could likely be industrialized and require little energy input beyond drilling and pumping waters into the subsurface¹².”
6. Massive Carbon Capture Capacity: Research by Memorial University on the Project calculated a theoretical “total CO₂ storage capacity of 5.1 × 10¹¹ tonnes for the entire BOIC¹¹”, equivalent to more than 13 years of global CO₂ emissions (based on 2022 global emissions of 36.8 Gt) and over 700 times Canada’s annual emissions. Even 1% carbonation could account for more than 7 years of Canada’s national CO₂ output¹³.
7. Most Efficient Carbon Capture Mineral: Brucite formed during serpentinization exhibits the highest CO₂ reactivity among ultramafic alteration products, requiring only ~2.5 tonnes of mineral to sequester 1 tonne of CO₂, compared with ~4 tonnes of forsterite, ~6 tonnes of serpentine, and >10 tonnes of basaltic glass. This positions brucite-bearing serpentinites as optimal targets for carbon capture operations¹⁴.
8. Awaruite (Ni₃Fe) Perspective Environment: Hydrogen is a required precursor for the formation of awaruite nickel (Ni₃Fe), a natural nickel alloy that commonly contains cobalt. The highly reducing conditions created by serpentinization generate the hydrogen needed for awaruite to form, providing direct mineralogical evidence of hydrogen-rich conditions^{15 16}.

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First Atlantic Nickel Acquires Ophiolite-X Project Targeting White and Orange Geologic Hydrogen, Carbon Capture, and Critical Minerals in Western Newfoundland, source