Gold Hydrogen's Quarterly Activities Report for the Period Ended 31 March 2024

Gold Hydrogen Limited (ASX: $GHY) has released its Quarterly Activities Report for the period ended 31 March 2024. The report highlights the commencement of exploration well testing operations, confirming a 17.5% Helium result at the Ramsay 2 site. The Company is focused on the discovery and development of Natural Hydrogen and Helium gases in South Australia, with a mean estimate of 96 billion cubic feet of Helium over approximately 25% of the Ramsay Project area.

Executive Commentary on Exploration Well Testing Operations

The Company considers the commencement of exploration well testing operations as the start of an exciting journey, similar to that undertaken by successful oil and gas projects in the past. The initial results from the testing program have been encouraging, with indications of the permeability and porosity of the sub-surface structures. The Company is moving into advanced planning for a Stage 2 extended well testing program, which is expected to provide further insights into the characteristics of the Natural Hydrogen and Helium reservoirs.

Summary of Quarterly Activities and Outlook

Gold Hydrogen's Quarterly Activities Report outlines the commencement of pioneering exploration well testing operations, confirming a 17.5% Helium result at the Ramsay 2 site. The Company aims to potentially develop the significant prospective resources of Natural Hydrogen and Helium identified in the Ramsay Project. With limited data available for dedicated Natural Hydrogen wells worldwide, the Company acknowledges the inherent uncertainty but remains optimistic about the potential outcomes. The report also highlights the receipt of a $1.9m tax refund related to R&D expenditure, supporting the continuation of the pioneering work on the Ramsay Project. Gold Hydrogen's focus on Natural Hydrogen and Helium exploration in South Australia positions it well to potentially prosper from the growing demand for Hydrogen and the rarity of Helium. The Company's future activities and development plans are subject to further exploration, appraisal, and evaluation to determine the existence of significant recoverable resources.