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Highlights
- Gold Hydrogen reports helium purities of 36.9% at Ramsay Project.
- Australia's highest helium purity ceiling recorded at 25% in past data.
- GHY explores further drilling opportunities based on these results.
Gold Hydrogen (ASX:GHY) has revealed significant findings at its Ramsay Project in South Australia, reporting an impressive helium purity of 36.9%. This marks a breakthrough for the ASX energy stock, as these purity levels surpass previous records in Australia, which had a ceiling of 25%, according to CSIRO data.
The Ramsay Project focuses on extracting 'Gold Hydrogen,' a naturally occurring form of hydrogen found underground. This differs from 'Green Hydrogen,' which is produced through electrolysis using renewable energy sources. Gold Hydrogen, also referred to as natural hydrogen, is relatively rare, with few underground deposits of substantial economic value. In addition to hydrogen, the project has revealed significant helium concentrations, a gas that is both valuable and cheaper to mine than to synthesize. This rare find places GHY in a unique position in the global helium market, which is largely dominated by the US and Russia.
Helium, an essential element used in industries like medical imaging and electronics, is often found alongside native hydrogen deposits. Gold Hydrogen’s latest results provide a boost to Australia’s helium potential, as the company gears up for further drilling in its Kulpara Dolomite formation, where drillers have discovered a promising 180-meter-thick helium-bearing section.
Independent data reviews have confirmed the authenticity of the company's findings, and additional laboratory testing is currently underway. Samples have been sent to facilities in Australia, London, and Paris for further validation. The results are expected in the near future, potentially unlocking more helium drilling targets.
Neil McDonald, Managing Director of GHY, emphasized the importance of these findings, stating, "We have identified a potentially prolific 180-meter thick Helium-bearing section of the Kulpara Dolomite formation. We’ve also recorded Helium at surface in the separator at world-leading purities of 36.9%, in addition to the CSIRO dissolved gas in water results of 20% to 25%."
These discoveries represent a key milestone for Gold Hydrogen as it continues to explore the Ramsay Project's full potential. The company is now preparing for its next phase of drilling, hoping to expand its understanding of both the hydrogen and helium resources at the site.
