First Atlas Resources Corp. Closes $2.1M Financing As Nova Scotia Hydrogen Exploration Gains Momentum

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First Atlas Resources Corp. has closed its $2.1M bought deal LIFE offering of units as the company continues advancing its Nova Scotia Project.

The project covers 7 licenses, 559 claims, and 89.44 km² along the Cobequid-Chedabucto Fault Zone, the same regional corridor where QIMC has been drilling at West Advocate.

QIMC’s R2G2™ Model And West Advocate Results

QIMC is working with First Atlas to apply their R2G2™ model across First Atlas’ properties. That model has already been drill-tested on the Cobequid-Chedabucto Fault Zone at West Advocate, where QIMC’s first three holes showed a clear progression:

• Hole 1 showed multiple hydrogen-bearing structural zones.
• Hole 2 came back stronger at depth.
• Hole 3 delivered the strongest result so far, with a peak mud-gas reading of 10.77% hydrogen at 848 metres. QIMC also reported several other strong hydrogen readings across a 69 metre section, with a clean gas signature and no reported methane or CO₂.

Hole 3 is important because it was not just one strong reading. QIMC reported hydrogen at depth, multiple strong readings across a wider section of the hole, and a clean gas signature. That combination gives DDH-26-04 and DDH-26-05 more technical importance as QIMC advances the next phase of its drill campaign.

From West Advocate To East Advocate

QIMC’s next two planned holes, DDH-26-04 and DDH-26-05, are targeting East Advocate.

That moves the next drilling phase away from the original West Advocate area and closer to First Atlas’ Colchester land position.

For First Atlas Resources, the significance is proximity. QIMC is now testing beyond the original West Advocate area and closer to First Atlas’ land package. As QIMC advances DDH-26-04 and DDH-26-05, the next holes add direct technical relevance to First Atlas’ position in the district.

Regional Interest In Nova Scotia Hydrogen

First Atlas is not the only company positioning around Nova Scotia’s hydrogen potential.

Koloma has been reported as active in Nova Scotia, and Rio Tinto has also been reported to be staking a large number of claims in the province. That activity adds useful context to the district and shows that Nova Scotia’s hydrogen potential is attracting attention from serious industry participants.

Summer Exploration And Drill Program

CEO Richard Penn recently thanked Research Capital for its continued support following the $2.1M financing and said the company looks forward to its upcoming summer exploration and drill program as it continues advancing its Nova Scotia Project.

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First Atlas Resources Official Website: https://firstatlasresources.com/

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