HyTerra triples lease acreage on Nemaha Project

HyTerra Limited (ASX:HYT) has significantly expanded its lease position in the Nemaha Project, Kansas, acquiring approximately 26,200 acres. This brings the total exploration lease position from 12,880 acres to approximately 39,000 acres. The new leases are located in the highly prospective Washington and Marshall Counties above the Mid-Continent Rift, which is considered to be the generation zone for hydrogen. The company is also preparing for an Extraordinary General Meeting (EGM) for shareholders to vote on the $21.9m Fortescue strategic interest in HyTerra.

Executive Director's Commentary

Dr Avon Mclntyre, the Executive Director, emphasized the significance of the new acreage, highlighting the value addition to shareholders and the anticipation of a positive outcome at the upcoming EGM vote on Fortescue's strategic interest acquisition. He expressed gratitude to the Kansas-based leasing team for their efforts in securing the acreage and emphasized the company's pursuit of new areas to lease based on identified prospectivity in the region. Dr Mclntyre also mentioned the predictive model for white hydrogen and helium in Kansas, which highlighted the area as particularly prospective, and the company's ability to execute in record time due to funds raised earlier in the year.

Summary

HyTerra's acquisition of approximately 26,200 acres in the Nemaha Project, Kansas, has significantly expanded its exploration lease position to approximately 39,000 acres. The new leases are located in highly prospective areas above the Mid-Continent Rift, known as the generation zone for hydrogen. The company is preparing for an EGM for shareholders to vote on the $21.9m Fortescue strategic interest in HyTerra, which includes funding for a 6 well drilling program. Dr Avon Mclntyre highlighted the importance of the new acreage and expressed gratitude to the Kansas-based leasing team for their efforts. The company's pursuit of new areas to lease based on identified prospectivity in the region reflects its commitment to further growth and exploration. HyTerra's focus on natural hydrogen and helium resources near major industrial hubs positions it as a first mover in a world rich with opportunities, with a potential for low-carbon feedstock or fuel production.