Gold Hydrogen (ASX: GHY) has identified several zones with elevated levels of natural hydrogen and helium at its Ramsay 3 well in South Australia.
Early-stage testing results to a depth of 884.2 metres have indicated correlation with key intervals previously identified at the Ramsay 2 well, confirming continuity across approximately 2.3 kilometres and significantly strengthening the geological model for a natural hydrogen-helium system.
While laboratory testing is ongoing, the company has already observed air-corrected purity of up to 97% in hydrogen samples.
Ramsay 4 Drilling
Gold Hydrogen is now preparing to mobilise the rig to the Ramsay 4 field 500m to the north of Ramsay 2 for further appraisal.
The company’s success at Ramsay 1 in late October 2023 led to a land rush in SA’s Yorke Peninsula area, as local and international companies sought to follow-up on what is regarded as a world class hydrogen-discovery.
Significant interest from major international firms followed, with companies including Toyota, Mitsubishi Gas Chemical, and ENEOS Xplora supporting Gold Hydrogen’s $14.5 million placement in July.
Further Assessment
Managing director Neil McDonald said that, while it is still early days in the analysis of the results, he regards the confirmation of multiple zones of natural hydrogen and helium as extremely promising.
To further assess those zones, production casing with a fibre optic line attached is being run to the bottom of the well to conduct temperature and acoustic measurements.
A casing well installation will also enable installation of an electronic submersible pump to support production testing to a temporary surface production facility.
These items will feature in an extended well testing program that will provide a critical guide to the well’s commercial potential.
