Highlights:
- Gold Hydrogen commenced the drilling of Australia’s first dedicated hydrogen exploration well, Ramsay 1, on 11 October 2023.
- Ramsay 1 was successfully drilled to a depth of 1005m through the fractured Parara and Kulpara limestones into the granite basement and found both hydrogen and helium.
- Drilling at Ramsay 2 commenced on 17 November 2023and was successfully drilled to 1068m, once again encountering both hydrogen and helium.
- Downhole MDT samples along with side wall cores and detailed logs were obtained from both wells.
- Independent laboratory testing of the samples from the initial drilling campaign yielded results of up to 86% hydrogen and up to 6.8% helium (non-air corrected). Details in body of report.
- MOU’s signed with Wasco and H2Site to facilitate the fast tracking of a proof of concept pilot plant in the Ramsay Project area.
- The Company completed a successful capital raising with gross proceeds of $14.8m from a range of sophisticated and institutional investors.