Natural helium resource beckons for Gold Hydrogen

Natural hydrogen developer Gold Hydrogen has confirmed the presence of large reserves of helium gas underground on the Yorke Peninsula in South Australia.

Gold Hydrogen has confirmed the presence of helium in drilling of its Ramsay Project at up to 6.8 percent helium concentration in raw gas. Reserves are estimated at 96 billion cubic feet (Bcf).

The company has been drilling for naturally occurring hydrogen in the region and nearby Kangaroo Island which were first discovered in Ramsay Oil Bore 1 in 1931.

Natural hydrogen is a natural occurrence through normal geologic activity and can be found widely in various geologies underground.

Meanwhile helium as an element cannot be man made, is rare and valuable for use in research, medicine, semiconductor and fibre-optics manufacturing and the aerospace sector.

Gold Hydrogen Managing Director Neil McDonald (pictured) said that the study was an exceptional result and huge value add for the company.

McDonald said: “Helium projects are commercial around the world from one percent purity and we have 6.8 percent purity raw gas from recent exploration results.

“Combining this with a market where helium is expected on a longer term basis to sell for approximately USD$450 per Mcf, we may very well have a world class helium project and one with scale.”

Helium is normally produced in association with oil and gas production, with the company dubbing the resource which is not associated with petroleum as ‘green helium’.

Gold Hydrogen said that its estimates were based on undiscovered accumulations of gas which carried risks of discovery and development.

“Further exploration, appraisal and evaluation is requires to determine the existence of a significant quantity of potentially recoverable helium.”

Gold Hydrogen plans further flow and sample testing for March 2024.

Further reading:
Gold Hydrogen rush points to site for first hydrogen gas well

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