There are numerous chemical pathways for generating H within the geosphere. Sulphide weathering, decay of organics, Neil's stated reaction here etc. Similarly in Geophysics IP chargeability anomalies can be any number of things - sulphides, graphitic shales, certain clay layers. Nothing is certain until the drill bit tests.
One however does get a testable target from the H mapping and a tell is the strong association of H with drill collars that hit good mineralisation which are chimneying the stuff out.
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