Primary Hydrogen Expands Nova Scotia Footprint as Wicheeda North Nears First-Ever Drill Test

Primary Hydrogen expands its Wallace project to six licences and 140 claims, while a 1,500-metre drill program at Wicheeda North is set for October 1.

Primary Hydrogen Corp. has quietly assembled a second front in Atlantic Canada while its flagship British Columbia asset barrels toward a milestone the property has never seen: a drill bit in the ground.

The company closed out August by securing four additional exploration licences at its Wallace Natural Hydrogen Project, adding 68 claims spanning roughly 1,101 hectares. That brings its Cumberland Basin holdings to six licences, 140 claims and about 2,267 hectares in total. Wallace is the second project Primary Hydrogen has rolled out in the basin, following the Northumberland Project unveiled in mid-August as its maiden position there.

The land grab fits a deliberate pattern. Rather than cherry-picking scattered claims, the explorer is stitching together a contiguous land package — a strategy that hands investors a broader resource base, even if the geology underneath still has to be proven through field work.

Wicheeda North Moves Through the Pipeline

Roughly 4,000 kilometres west, activity at Wicheeda North is further along. Phase one of soil sampling is complete and phase two is underway. Precision GeoSurveys has been contracted for an airborne radiometric survey covering 738 line-kilometres, with results expected by the end of September — ahead of the drill start, giving the company early clues about promising target zones.

Radius Drilling Corp. has been tapped to execute a roughly 1,500-metre drill program, scheduled to kick off October 1 and wrap by November 1. It will be the first hole ever drilled on the property.

That sequence — soil sampling, then radiometry, then the rig — means shareholders will receive a staggered flow of data points in the coming weeks, well before actual assay results from the drilling can land.

Two Legs, One Blueprint

Pairing a land expansion in Nova Scotia with intensified exploration in British Columbia shows how Primary Hydrogen is building out its portfolio on parallel tracks. At Wicheeda North, the focus has already shifted to metres drilled; at Wallace, the company is still at the staking stage, where concrete geological results remain outstanding.

The geographic split between the two provinces also serves a practical purpose: it spreads the risk that comes with betting an entire exploration story on a single project — a meaningful consideration for a company whose valuation swings on individual news releases.

Share Price Tells a Choppier Story

Trading has been anything but calm. The stock finished Friday at EUR 0.83, down 0.6% from the prior session, though it managed a 14% gain over the week. On a monthly basis, the shares are off 6.7%, leaving them just below the 50-day average of EUR 0.8413. The 52-week high of EUR 1.59, touched at the end of August, remains roughly 48% away.

An annualized 30-day volatility reading of 173% captures the mood. The market appears to be pricing in the approaching catalysts — radiometric results and the drill start — while holding out for hard evidence. No analyst coverage on the stock is currently on record.

For now, the Nova Scotia expansion reads as a strategic signal: Primary Hydrogen is widening its resource base before any definitive exploration data emerges from its core Wicheeda North project. The real basis for valuation likely won't shift until drill results start arriving in October and the pending assay results from soil sampling come through.