80 Mile PLC Discovers Natural Hydrogen and Helium Reserves in Finland
Key Ideas
- 80 Mile PLC announces significant concentrations of natural hydrogen and helium at the Hammaslahti project in Finland.
- Surface sampling reveals hydrogen concentrations of 1000 ppm and helium readings of up to 8.90%.
- Discovery highlights the region's potential for substantial subsurface gas accumulations and industrial gas resources.
- Company intends to accelerate exploration efforts to evaluate the project's potential as an industrial gas resource.
80 Mile PLC, formerly known as BlueJay Mining, has made a groundbreaking discovery of natural hydrogen and helium at the Hammaslahti project in Finland. Surface sampling at historical drill holes revealed hydrogen concentrations reaching the upper detection limit of the equipment used, along with helium readings stabilizing at 7.10%. This discovery signifies the first documented occurrence of natural hydrogen and helium in the Hammaslahti area, indicating the potential for significant subsurface gas accumulations. The presence of these gases further emphasizes the industrial gas potential of the region. In response to these findings, 80 Mile PLC plans to intensify its exploration activities to assess the Hammaslahti project's suitability as an industrial gas resource. Managing director Eric Sondergaard expressed excitement over the discovery, highlighting the strategic importance of hydrogen in the clean energy transition and the value of helium for advanced technologies. The positive news led to a 10% increase in 80 Mile PLC's share price in London trading. The company's focus on harnessing natural hydrogen and helium reserves underscores its commitment to contributing to the global energy transition and advancing technology sectors.