• The first stage of Gold Hydrogen’s (GHY) soil-gas survey, being conducted by Commonwealth Scientific and Industrial Research Organisation (CSIRO), has commenced on schedule on the mainland component of the 100% owned Ramsay Project (PEL 687).
  • Up to 80 locations identified for soil-gas sampling based upon recently completed reprocessed 2D seismic, generation of subsurface static model, near existing occurrences of natural hydrogen from historic wellbores, and distributed over various subsurface hydrogen source rocks, basement faults and possible seeps or fairy circles.
  • This Stage 1 soil-gas survey is part of GHY’s research and development activities, and is being undertaken 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.
  • This research and development activity may provide valuable data that could assist in providing a guide for future exploration activities, supporting the generation of additional drilling inventory leads for maturation to prospects. However, whilst the soil-gas survey may provide a guide, drilling is required to validate the extent of hydrogen in the subsurface, and this is planned for late 2023.
  • The approved non-invasive airborne survey covering 10,529-line km is proceeding to plan and has currently acquired approximately 58% of the survey data.
  • Gold Hydrogen controls a commanding position in South Australia with a combined natural hydrogen permit and application area of approximately 75,332 square km. GHY’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).
  • 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 here.