Highlights:
- Ramsay 2 drilling began on Friday, 17 November 2023, with surface casing successfully installed at a depth of 192m over the weekend.
- Hydrogen detection confirmed across the entire Parara Limestone section.
- Wireline logs conducted in the first 100m below the surface casing, with MDT samples collected for analysis.
- MDT and preliminary mud gas samples sent to an external lab for detailed analysis.
- Further updates to be provided following sample analysis.
Operational Update on Ramsay 2 Well: Gold Hydrogen Limited (ASX: GHY) is pleased to provide an update on its flagship Ramsay Natural Hydrogen Project. Drilling of the Ramsay 2 well, Australia’s second dedicated natural hydrogen exploration well and a continuation of the Ramsay 1 well’s success, commenced on 17 November 2023. Following the successful setting of surface casing at 192m in the Parara Limestone, hydrogen was detected in the mud gas, indicating the presence of hydrogen at shallow depths.
After reaching a depth of approximately 700m, drilling was paused at 290m to perform wireline logging and collect reservoir samples. Preliminary analysis of the samples revealed elevated hydrogen levels, particularly from the MDT sample at 201mMD. Drilling has since resumed, targeting a total depth (TD) of approximately 1,100m early next week, with further wireline logs planned post-TD.
Numerous mud gas samples have been collected during drilling for ongoing testing at a third-party lab. Results and interpretations from these tests will be shared in future updates.
Confirmation of Hydrogen Presence: The preliminary findings from Ramsay 2, along with results from Ramsay 1 and historical Ramsay Oil Bore, reinforce the presence of natural hydrogen in the area. Neil McDonald, Managing Director of Gold Hydrogen, expressed optimism about the limestone’s porosity and permeability, which could lead to Australia’s first natural hydrogen discovery.
Risks and Community Engagement: The Ramsay Project, while promising, is not without geological and developmental risks. These include uncertainties regarding the presence, recovery, and volume of hydrogen. Additionally, the project’s location in agricultural areas and near National Parks on Yorke Peninsula and Kangaroo Island necessitates substantial landholder and community engagement.
About Gold Hydrogen: Gold Hydrogen is dedicated to discovering and developing natural hydrogen gas in South Australia. The region, recently recognized for its hydrogen potential, offers Gold Hydrogen a unique opportunity to establish a new natural hydrogen gas province. The company holds a significant exploration area (approximately 75,332km2), including one granted petroleum exploration license (PEL 687) and seven applications through its subsidiary companies.
Further Information: For more details about Gold Hydrogen, its projects, board, and management, visit www.goldhydrogen.com.au, where the Company’s Replacement Prospectus dated 29 November 2022 is also available.
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