- Stage 1 of the approved non-invasive airborne survey covering 10,529-line km on the mainland component of the 100% owned Ramsay Project (PEL 687) has commenced on schedule, and is estimated to take three weeks to complete.
- This survey is an important and 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.
- In addition to the reprocessed 2D seismic survey completed in December 2022, which shows better than expected subsurface conditions for hydrogen traps, the data collected during the airborne survey is expected to continue to demonstrate this region as a potential world class natural hydrogen province.
- As previously outlined, the program plan will quickly highlight areas of higher prospectivity, and will support the guidance of future work program activities for the maturation of the independently assessed Best Estimate Prospective Resource of natural hydrogen gas in PEL 687 (refer Table 1).
- Gold Hydrogen controls a commanding position in South Australia with a combined natural hydrogen permit and application area of approximately 75,332 square km. Historical drilling of wells within PEL 687 identified approximately 80% natural hydrogen gas at depths of up to 500m.
- 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 and create a pathway to commercial extraction.