Gold Hydrogen Limited (ASX: GHY) has announced that its contractor, Xcalibur Multiphysics, has started the acquisition of the Stage 1 non-invasive 10,529-line km airborne gravity-magnetic-digital terrain survey at 500-meter spacing, covering the mainland portion of the Ramsay Project (PEL 687) in South Australia (refer Figure 1). This development follows the previous release on 20 February 2023.
- Stage 1 of the non-invasive airborne survey, covering 10,529-line km on the mainland component of the wholly-owned Ramsay Project (PEL 687), has begun as planned and is expected to take three weeks to complete.
- The survey serves as a crucial exploration tool to help identify, prioritize, and refine future natural hydrogen targets for Stage One drilling, anticipated to start in Q3 CY2023.
- Alongside the reprocessed 2D seismic survey completed in December 2022, which revealed better-than-expected subsurface conditions for hydrogen traps, the airborne survey data is expected to further establish this region as a potential world-class natural hydrogen province.
- As previously described, the program plan will quickly emphasize areas of higher prospectivity and guide future work program activities for the maturation of the independently assessed Best Estimate Prospective Resource of natural hydrogen gas in PEL 687 (refer Table 1).
- Gold Hydrogen holds a dominant position in South Australia, with a combined natural hydrogen permit and application area of approximately 75,332 km2. Historical drilling of wells within PEL 687 identified roughly 80% natural hydrogen gas at depths up to 500m.
- Gold Hydrogen believes there is considerable upside potential for deeper hydrogen sources and reservoirs throughout the Ramsay Project at untested depths ranging from approximately 500m to 4,500m. The company aims to drill at these unexplored depths and develop a pathway to commercial extraction.
In February 2023, the South Australian Government Department for Energy and Mining granted approval for the survey under Section 74(3)(a) of the South Australian Petroleum and Geothermal Energy Act 2000. The company has fulfilled all necessary compliance requirements to initiate the survey.
Estimated to take three weeks, the Stage 1 survey has begun, with completion subject to weather conditions. The data will be processed and integrated with Gold Hydrogen’s static and dynamic subsurface models. This interpretation often results in elevated subsurface definition across the surveyed area, categorized into geological domains and prioritized by prospectivity. This approach guides future activities, enabling more focused operations with reduced impact on surface owners and the community.
The new data acquisition will help define new subsurface structures and differentiate rich natural hydrogen source rocks near and away from the historic natural hydrogen occurrence at Ramsay Oil Bore 1. The high-resolution survey aims to improve understanding of rich natural hydrogen source rock distribution, interpreting the results to compare with (i) the historic bore laboratory analysis results with high natural hydrogen content between 66% and 89%, (ii) the gas-soil survey results scheduled for April 2023, and (iii) the ongoing fluid inclusion core analysis results expected in May 2023.
The airborne survey data will be integrated into both static and dynamic subsurface models, becoming a strategic tool for high-grading potential areas for further seismic acquisition, play, lead, and prospect analysis, new drilling, and associated production testing. This will support the maturation of the Company’s independently assessed Prospective Resource (refer Table 1), advance the title to a production license, and generate a field development plan. The Company’s current key work streams are outlined in Table 2.
Gold Hydrogen focuses on discovering and developing world-class natural hydrogen gas in a potentially extensive natural hydrogen province in South Australia, which the Company has recently identified for its natural hydrogen potential. With the growing domestic and global demand for hydrogen, new natural hydrogen exploration techniques, and experienced personnel, Gold Hydrogen has an extraordinary opportunity to define and ultimately develop a new natural hydrogen gas province.
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The combined natural hydrogen permit area for the Gold Hydrogen group is approximately 75,332 km2. Gold Hydrogen holds one granted petroleum exploration license (the Ramsay Project – PEL 687), and its two 100% owned subsidiary companies (White Hydrogen Australia and Byrock Resources) hold an additional seven (7) applications for natural hydrogen exploration within South Australia.