• Gold Hydrogen confirms high hydrogen and helium purity levels

  • Aug 5 2024
  • Length: 8 mins
  • Podcast

Gold Hydrogen confirms high hydrogen and helium purity levels

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  • Gold Hydrogen Ltd (ASX:GHY) managing director Neil McDonald sits down with Proactive’s Jonathan Jackson to discuss the progress of its exploration of natural hydrogen and helium at the Ramsay Project on the Yorke Peninsula of South Australia. This quarter, the company completed Stage 1 testing and started the next exploration phase. High concentrations of both gases were confirmed in the Ramsay 2 well, with hydrogen purity levels reaching up to 95.8% (air-corrected) at approximately 531 metres deep. Helium levels during initial testing reached 17.5%, with recent results indicating an increase to 20%-25%. Stage 2 testing has begun, focusing on dewatering the well to enhance gas flow to the surface. GHY identified a 180-metre-thick helium pay zone in Stage 1, indicating significant potential for commercial extraction. A 2D seismic survey was also completed to guide future drilling targets and well designs. GHY holds one granted petroleum exploration licence (PEL 687) and has seven additional applications, covering about 75,332 square kilometres. The company ended the quarter with A$15.6 million, supporting its exploration and development plans, including establishing a contingent estimated gas resource for Ramsay. The project's 2U (best estimate) prospective hydrogen resources stand at 1.313 million tonnes with a 10% commercialisation probability (PC). The helium resource (2U prospective) is estimated at 41 billion cubic feet (bcf) with a 10% PC. These resources are conceptual targets requiring further exploration and evaluation. #ProactiveInvestors #GoldHydrogen #ASX #RamsayProject, #YorkePeninsula, #NaturalHydrogen, #HeliumExploration, #HydrogenPurity, #HeliumPurity, #Stage2Testing, #2DSeismicSurvey, #PEL687, #ExplorationGoals, #GasResources, #CommercialExtraction, #HydrogenResources, #HeliumResources, #EnergyExploration, #NaturalGas, #ResourceEvaluation, #AustralianExploration, #GasFlow. #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews
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