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https://www.theaustralian.com.au/bu...a/news-story/98c8a68ed2af7af92fee4a38ef67d734


Gold Hydrogen has found high helium concentrations while drilling for hydrogen in SA


Gold Hydrogen drilling on the Yorke Peninsula. Picture Supplied

• By CAMERON ENGLAND
  BUSINESS EDITOR
  @CameronEngland
• 2:20PM DECEMBER 6, 2023

Gold Hydrogen has announced “world class” helium concentrations at its second hydrogen drilling campaign in South Australia and immediately announced a capital raise.

The company successfully confirmed the presence of hydrogen in its first drilling campaign on the Yorke Peninsula in South Australia earlier this year, and now has confirmed that both hydrogen and helium are present at its second target site.

While detailed results for the hydrogen shows at the most recent Ramsay-2 well are not yet available, the company said the helium results were exceptional.

Helium is in high demand globally, and cannot be manufactured synthetically.

Gold Hydrogen said helium at up to 6.8 per cent was returned from the drilling program.
“These values would potentially make the Ramsay project a world-class helium project if they were replicated across the tenement,’’ the company told the ASX.
“Exploring for helium in a non-petroleum system is groundbreaking, and flow testing of completed wells will ultimately be required to confirm helium concentrations, flow rates, and thus commerciality.
“Globally, commercially producing helium at less than 1 per cent is commonplace.’’

Gold Hydrogen managing director Neil McDonald said the initial helium results were “truly world class’’.
“While we were already pleasantly surprised by the previously tested and announced helium found at Ramsay 1, the results from Ramsay 2 of 6.8 per cent helium in the raw gas do not come as a complete shock,’’ he said.
“Just last week, I had the privilege of attending the World Natural Hydrogen Conference, where international scientists shared theories about the simultaneous discovery of helium alongside natural hydrogen.
“These findings further affirm our commitment to pioneering advancements in the field and underscore the global significance of the Ramsay project.”

The company has also suspended its shares from quotation while it raises new capital.

Gold Hydrogen stock has performed well since it listed on the ASX at 20c per share, after raising $20m.

The stock last changed hands at 79c, after trading as high as $1.03 this year.