💥 Fed cuts sparks mid cap boom! ProPicks AI scores with 4 stocks +23% each. Get October’s update first.Pick Stocks with AI

Gold Hydrogen confirms free-flowing hydrogen during Ramsay 1 drilling

Published 19/10/2023, 02:07 pm
© Reuters.  Gold Hydrogen confirms free-flowing hydrogen during Ramsay 1 drilling

Gold Hydrogen Ltd (ASX:GHY) has confirmed the presence of free-flowing hydrogen during drilling at Ramsay 1 well, an important step in achieving the objective of producing natural hydrogen at the Ramsay Project on South Australia’s Yorke Peninsula.

After starting on the first natural hydrogen exploration well to be drilled in Australia on October 11, 2023, the surface section was successfully drilled and cased off on Saturday, October 14 at 220 metres.

On October 15, further drilling was started to test the identified target zones below 220 metres and while in the Parara Formation, this encountered a system of permeable faults and natural fractures.

Encouraging findings

GHY said the geological findings were promising as these faults and fractures may represent possible pathways to allow for hydrogen to migrate from the source.

This is important technical confirmation of the geological setting at Ramsay.

The company is encouraged that hydrogen was detected at elevated levels above background levels and confirmed by onsite mud gas samples and subsequent offsite laboratory mud-logging analysis provided by SLB.

These samples were collected on surface and contained an expected high level of air contamination.

Further testing and analysis of the samples were conducted in the offsite laboratory and the air-corrected composition and values of hydrogen were found to be analogous with offset data.

Further sampling required

These are preliminary results that require further uncontaminated down hole samples to be taken and tested, to confirm the exact composition of gas and purity of hydrogen in the formation.

Until these samples can be obtained, GHY said the exact purity of hydrogen would not be known.

Although the objectives of the well have been achieved in detecting natural hydrogen in the Parra Formation, the company will now attempt to collect uncontaminated downhole samples.

Encountering the natural fractures has led to some delays and slower than anticipated drilling times.

On the path

After setting out to test the results of the historic Ramsay Oil Bore drilled in 1931, Gold Hydrogen believes that the early detection of natural hydrogen confirms the existence of natural hydrogen-bearing formations in the subsurface geologic formations within the PEL687 permit area.

By replicating the identification of hydrogen gas encountered during the historic drilling and more broadly confirming geological modelling based on the exploration data obtained during the past year, the company believes it is on the way to achieving its primary objective.

Read more on Proactive Investors AU

Disclaimer

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.