Gold Hydrogen Ltd (ASX:GHY) has obtained initial environmental approvals for its groundbreaking Ramsey One well, setting the stage for Australia's first dedicated hydrogen exploration well.
Managing director Neil McDonald sat down with Proactive today to detail the company's preparation for mid-October drilling and expressed confidence in the prospective resource of up to 9 billion kilograms of hydrogen.
McDonald confirmed the pivotal progress of the project.
"This has been a major achievement for the project to get to this position where we've had the environmental approvals approved.
"On a stage process, we've been given approval to prepare the site for drilling. We expect to get stage two approval for drilling shortly.
"So, this will allow us to undertake the first exploration well and confirm the historical discoveries in this area of up to 90% pure hydrogen made in the 1920s and 1930s. We're expecting to do this in mid-October and commence drilling.
Data confirms presence of hydrogen
In terms of historical data, McDonald elaborated.
“This is a project where the more exploration and the more data we're gathering, the more confident we're feeling that natural hydrogen created by natural geological events and hydrolysis was not only discovered in the 1920s and 1930s, but it's still there today.
“In recent times, we've had CSIRO undertake soil testing at the top of the surface. That indicated that hydrogen is still migrating to the surface at mild to moderate levels in strategic areas where natural faults are.”
The company discovered that from 10 historical wells within its permit territory, some were not evaluated for hydrogen, even though rock chip samples had been collected from past drilling activities.
“We've sent them to an international independent laboratory in France and 95% of those samples have come back, confirming that the hydrogen is still in there today,” McDonald told Proactive.
An independently certified resource report adds credence to the company's confidence, estimating a prospective resource target of 1.3 billion kilograms to 9 billion kilograms of hydrogen in the ground.
"It'd be enough to supply South Australia and also be an export; it'd be a wonderful thing," McDonald added.
The success of the Ramsey One well could have broad implications not just for Gold Hydrogen but for Australia's energy landscape.
"Gold Hydrogen is very excited to be one of the leaders in the world of natural hydrogen, but also the forefront to help decarbonisation. We're optimistic and confident," McDonald concluded.
Gold Hydrogen appears well-positioned to make a substantial impact on Australia's burgeoning hydrogen market, with key approvals in place and drilling scheduled for the near future.