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Priceless resources discovered at Ramsay

Ramsay 2

Gold Hydrogen announced that significant concentrations of hydrogen and helium had been encountered in sections of the Ramsay 1 well. This confirmed previous measurement and demonstrated an active hydrogen system in the Ramsay Project area.

“It is incredibly exciting that we have replicated the results of 100 years ago at 240m,” Gold Hydrogen managing director Neil McDonald said.

“With the additional find of helium, which could be a significant value-add to the project, we view these results as being better than planned.”

Testing and laboratory results measured air-corrected hydrogen at 73.3 per cent at 240m below ground level, consistent with the 76 per cent air-corrected concentration of hydrogen reported in the Ramsay Oil Bore 1 in 1931.

These measurements validate historical results, and confirm the presence of a hydrogen play at shallow depths in the Ramsay Project area.

A major connected fracture zone was encountered in the Parara limestone, which is key for the migration of hydrogen from deeper sources to shallow zones according to the company.

Helium was also detected with an air-corrected content of 3.6 per cent at 892m measured depth.

This is a relatively high concentration of helium which is a rare and valuable resource, and if found in commercial grades and quantities, could be a significant value-add to the Ramsay Project.

Following the suspension of the Ramsay 1 well, and whilst drilling and sampling results continue to be analysed and further testing is being considered, Gold Hydrogen is preparing to drill the Ramsay 2 well to further appraise the Ramsay Project’s prospective resource.

The Ramsay 2 well is expected to spud in mid-November.

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