Primary Hydrogen Clears Final Hurdles for Wicheeda North as Drill Rig Countdown Enters Final Stretch
Published on 09/24/2026 at 18:20 | Editorial boerse-global.de
With a fully funded and regulator-approved work program in hand, Primary Hydrogen is moving into the last phase of preparation before its maiden drill campaign at the Wicheeda North rare-earth project in British Columbia. The company has scheduled the start of drilling for October 1, 2026, with completion targeted for November 1, 2026.
Radius Drilling has been contracted to carry out the roughly 1,500-metre program, a mandate the company announced about two weeks ago. The campaign represents the central operational milestone of the year for the explorer, and it will be the first test of whether surface-level indications of rare earths are backed up by mineralization in bedrock.
Airborne and Soil Work Feed the Drill Targets
Groundwork has been building toward the spud date for some time. The first phase of geochemical soil sampling across the project area has already been wrapped up. Precision GeoSurveys was brought in separately to fly an airborne radiometric survey covering a grid of 738 line-kilometres.
By pairing the geophysical data gathered from the air with the physical drilling below, Primary Hydrogen aims to build a reliable picture of the property's geological structure. The results of the campaign will determine whether the early rare-earth signals hold up once the bit goes into the ground.
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Shareholders Sign Off on Governance Package
The legal groundwork was settled roughly a week ago, when the company closed out its annual general meeting with every resolution passed. Holders of 911,489 common shares cast votes, equal to 12.29% of the outstanding stock.
Among the approved items was a new Omnibus Equity Incentive Plan, which carries a rolling component of up to 10% alongside a fixed component of up to 10%. Shareholders also returned David Jackson, Benjamin Asuncion, William Timothy Heenan and Martin Kowcun to the four-member board, and ratified DMCL Chartered Professional Accountants as auditor. The outcome gives management a formal mandate as it enters the busiest stretch of its field schedule.
Wider Portfolio Takes Shape
Wicheeda North is not the only item on the corporate agenda. A little over three weeks ago, Primary Hydrogen acquired the Wallace hydrogen project. More than a month before that came the staking of Seagull North and a marketing agreement with Nordcore Media.
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Market Waits on the Bit
Trading has reflected a cautious mood in the run-up to operations. The stock shed 6.2% in today's session to change hands at EUR 0.6800, according to one reading of the market, while a separate quote put the decline at 4.1% to EUR 0.6950. Either way, the shares sit well below their 52-week high of EUR 1.59, and market participants now have their eyes fixed on the October 1 spud — the event on which the next re-rating of the project depends.
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