- Gold Hydrogen (GHY) detects hydrogen in soils across its Ramsay project area in South Australia
- The CSIRO undertook an experimental stage one soil gas survey on the Yorke Peninsula
- The soil samples indicate potential natural hydrogen seeps which are near geological faults that extend to basement rocks
- The company is planning to start drilling one or more wells in October
- Shares in GHY last traded at 30 cents
Gold Hydrogen (GHY) has detected hydrogen in soils across its Ramsay project area in South Australia.
The Commonwealth Scientific and Industrial Research Organisation (CSIRO) conducted an experimental stage one soil gas survey on the Yorke Peninsula, uncovering hydrogen in multiple soil samples.
The soil samples indicated potential natural hydrogen seeps which are near geological faults that extend to basement rocks.
It is thought the potential Hydrogen is being generated in the subsurface and may have filled a suitable subsurface reservoir.
Following the results, the company is planning to start drilling at least one well in October.
To the company’s surprise, helium was also discovered at multiple locations with further studies needed to understand the helium values at the site.
The second and final stage of soil-gas survey exploration, involving long-term measurement, is scheduled for later this year and early 2024, helping to identify further leads and prospects of the project.
Shares in GHY last traded at 30 cents.