QIMC Soars 17.65% to $0.60 on Biggest News in Company History

QI Materials (CSE: QIMC) gained by 17.65% today to $0.60 per share after announcing that its latest brand-new drill hole DDH-26-05 is the company's strongest overall drill hole to date based on the first 300 metres.

QIMC discovered 23.5% H₂ at only 170 metres vs. the previous record hole DDH-26-04 reaching a slightly higher 24.3% H₂, but it took until 707 metres. The first 300 metres of DDH-26-04 peaked at only 16.0% H₂.

DDH-26-05 also has a much higher hit rate. About 74% of DDH-26-05 readings were ≥1% H₂, versus about 37% for DDH-26-04. That's a major improvement in the frequency/continuity of natural hydrogen.

This new hole had a sustained ~54 metre hydrogen corridor, from 143–197 metres, rather than just one spectacular reading. At about 164–167 metres, they encountered a mud seam/void, lost water return, and detected elevated hydrogen in the ambient air at the rig. The company interprets this as free gas flowing from the formation into the borehole.

The free-gas zone is bracketed by huge readings: 20.8% H₂ at 158 metres (above it) and 23.5% at 170 metres (below it). That makes the structural interpretation much more compelling than an isolated high reading.

QIMC is still drilling at DDH-26-05 and will be drilling the hole down to 900 metres!

Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. NIA has received compensation from QIMC of US$50,000 cash for a six-month marketing contract and previously received US$50,000 cash for a six-month marketing contract that has since expired. This message is meant for informational and educational purposes only and does not provide investment advice.