- The Xcalibur airborne geophysical survey and the Stage 1 soil-gas survey conducted by Commonwealth Scientific and Industrial Research Organisation (CSIRO) on the mainland component of the 100% owned Ramsay Project (PEL 687) have both been completed with no safety or environmental incidents.
- The gravity-magnetic-digital terrain geophysical survey acquired ~10,529-line km of data and will now progress through a series of processing and geological interpretation workflows that are expected to be completed by early July 2023. This survey is a valuable exploration tool designed to assist in identifying, prioritizing, and refining future natural hydrogen targets for Stage One drilling, which is expected to commence in Q3 CY2023.
- Subject to CSIRO finalising the first stage soil-gas results in the next months, this potential two-stage research and development survey is being trialled to determine whether hydrogen gas can be detected in soils at surface above potentially prospective natural hydrogen locations, noting that historical drilling activities recorded occurrences of up to 90% hydrogen in PEL 687 from depths >240-meters. The second stage long-term measurement soil-gas survey exploration technique has been tentatively scheduled for late 2023 – early 2024.
- Gold Hydrogen controls a commanding position in South Australia with a combined natural hydrogen permit and application area of approximately 75,332 square km . The Company’s granted permit PEL 687 has an independently assessed Best Estimate Prospective Resource of 1.3 billion kilograms of natural hydrogen gas (refer Table 1 in the full ASX announcement).
- Gold Hydrogen believes significant upside potential exists for deeper hydrogen sources and reservoirs throughout the Ramsay Project at untested depths from approximately 500m to 4,500m. It is Gold Hydrogen’s intention to drill at these untested depths in due course and create a pathway to commercial extraction.
Read the full ASX release: PDF