REG - 80 Mile PLC - Hydrogen and Helium Discovered at Hammaslahti

80 MileAnnouncement

21/10/2024 07:00

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RNS Number : 8387I  80 Mile PLC  21 October 2024

 

 AIM: 80M

 FSE: S5WA

 

21 October 2024

80 Mile PLC / Ticker: 80M / Market: AIM / Sector: Mining

Natural Hydrogen and Helium Discovered at Hammaslahti

80 Mile plc ('80 Mile' or the 'Company'), the AIM, FSE listed and Pink-Market
traded exploration and development company with projects in Greenland and
Finland, is pleased to announce the identification of significant
concentrations of natural hydrogen, along with helium, in two historical drill
holes at its Hammaslahti Project, Finland. These findings mark a major
advancement in the Company's exploration efforts, highlighting the potential
of the Hammaslahti region for industrial gas resources.

Highlights:

·      Natural Hydrogen Detection: Surface sampling at two historical
drill holes has resulted in natural hydrogen concentrations reaching 1000 ppm,
representing the upper detection limit of the portable equipment used and
indicating the strong potential for higher concentrations. The presence of
hydrogen flowing at such concentrations at surface suggests substantial
subsurface gas accumulations and highlights the potential for hydrogen
resource development in the region.

·      Helium Measurement: Helium was detected flowing at surface at one
historical drill hole, with readings reaching up to 8.90% and stabilising at
7.10%.

·      First Surface Detection of Natural Hydrogen and Helium: This
marks the first documented occurrence of hydrogen and helium detected flowing
to the surface in the Hammaslahti area. This detection is a notable
advancement, indicating the potential for economically recoverable gas
deposits within the area.

·      Extensive Historical Dataset: The Company's Hammaslahti license
area contains over 600 historical drill holes, providing a substantial
geological dataset enhancing the Company's ability to efficiently target
additional hydrogen and helium prospects. This comprehensive data will support
rapid exploration and resource assessment.

·      Acceleration of Exploration Efforts: The positive results from
surface sampling will enable the Company to expedite its exploration
activities. These surface readings provide a solid foundation for continued
evaluation of the Hammaslahti project's potential as an industrial gas
resource.

The detection of geological hydrogen and helium at surface at the Hammaslahti
Project aligns with 80 Mile's broader strategy to diversify its resource base
and expand its industrial gas portfolio. These measurements build upon
previous exploration successes and offer a unique opportunity to position the
Company as a leader in hydrogen and helium exploration in Finland. In light of
these findings, 80 Mile intends to continue and intensify its gas sampling
programme across its Finnish licenses, further evaluating the region's
industrial gas potential.

 

Eric Sondergaard, Managing Director of 80 Mile, commented:

"The detection of hydrogen and helium at Hammaslahti is a major development
for 80 Mile, reinforcing the exceptional potential of this region for
industrial gas resources. Hydrogen is a key component in the global shift
towards cleaner energy, and the presence of helium - an increasingly critical
resource for advanced technologies- further enhances the strategic value of
this project. These results underscore the significant opportunities that lie
ahead for Hammaslahti, and we remain fully committed to expanding our
exploration efforts and delivering meaningful, long-term value for our
shareholders."

 

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the
European Union (Withdrawal) Act 2018.

For further information please visit http://www.80mile.com
(http://www.80mile.com)  or contact:

 Eric Sondergaard                        80 Mile plc                      enquiry@80mile.com
 Ewan Leggat / Adam Cowl                 SP Angel Corporate Finance LLP   +44 (0) 20 3470 0470

(Nominated Adviser and Broker)
 Tim Blythe / Megan Ray / Said Izagaren  BlytheRay                        +44 (0) 20 7138 3205

(Media Contact)

 

Map of Hammaslahti Tenement Belt

Figure 1. Hammaslahti Natural Hydrogen Detection Holes with Historical Drill
Holes and FinnAust Current Tenements

 

Hammaslahti Hydrogen and Helium Sampling Results

             Initial Result              3 Minute Result       24hr Sealed Cap Result*     24hr Sealed Result After 3 Minutes*
 Hole ID     He          H(2)            He        H(2) (ppm)  He            H(2)          He                  H(2)

             (% vol)     (ppm)           (% vol)               (% vol)       (ppm)         (% vol)             (ppm)
 N54320R305  1.3         >1000           1.0       >1000       8.90          >1000         7.10                >1000
 N54320R301  0.0         150.0           0.0       75.0        0.0           642.0         0.0                 252.0

 Hole ID     Drill Year  Hole Depth (m)  Azimuth   Dip
 N54320R305  2020        875.7           225       -45
 N54320R301  2020        294.8           75        -50

*24hr Sealed Cap columns represent gas concentrations after the collar was
sealed for 24 hours, allowing gases to accumulate for a more accurate
reflection of downhole conditions. The final 3-minute readings indicate how
concentrations stabilised post-sealing.

 

Updated Standard Operating Procedure for In-Field H(2) and He Gas Analysis

The following updated procedure was introduced during the second phase of
sampling, ensuring precise and consistent measurement of hydrogen and helium
gases from historical drill holes:

1.    Drill Collar Identification: Navigate to the designated drill
collar, photograph the collar cap showing the Hole ID, GPS coordinates, and
record the information.

2.    Initialise Equipment: Power on the FD-311-He and FD-600M-H2
analysers. Allow the units to complete their pre-startup checks and ensure
both devices display a 0.00 reading before proceeding.

3.    Insert Collection Tube: Insert the gas collection tube into the
collar, avoiding contact with any water. Lower the tube to a depth of up to 20
cm or a safe depth, as deemed necessary.

4.    Conduct Initial Gas Measurement: Take an initial 3-minute gas
reading using the analyser to capture hydrogen and helium concentrations.

5.    Clear and Reset Analyser: If gas readings are detected, complete the
initial 3-minute measurement. Remove the analyser from the collar and clear it
by pumping fresh air through the device for 30 seconds. Ensure the unit
returns to a 0.00 reading.

6.    Repeat Measurement: Reinsert the collection tube and conduct a
second 3-minute reading. Record any changes in the readings, noting whether
they increase, peak, remain consistent, or decrease over time.

7.    Collar Height Measurement: Measure and record the collar height
above ground level to ensure accurate depth readings.

8.    Water Depth Determination: Pretest the In Situ 200 water depth
device to ensure the sensor is functional. Insert the probe into the collar
until the water level alarm sounds. Retrieve the probe until the alarm stops
and record the water level depth. Subtract the collar height for accurate
depth readings and note them in the field book.

9.    Blockage Detection: Lower the water meter into the hole. If the
device encounters a blockage before reaching 100 meters, retrieve the meter
and record the depth at the top of the collar. Subtract the collar height for
an accurate reading.

10.  Water Agitation: If no blockages are detected, lower the device to the
full 100-meter depth to agitate the water in the drill string.

11.  Collar Sealing: Retrieve the water meter and cover the collar with a
heavy-duty polythene plastic bag, securing it tightly with a cable tie and
tape to ensure an airtight seal. This process helps ensure the gas sample
collected more accurately reflects downhole gas concentration.

12.  24-Hour Wait Period: Record the time of the procedure and return after
24 hours to sample the accumulated gases from the drill hole.

13.  Gas Sampling Setup: Upon returning, turn on the helium (He) and hydrogen
(H₂) analysers, ensuring both are functioning properly and display a 0.00
reading.

14.  Final Gas Sampling: Check the plastic cover for condensation buildup,
and gently tap it to dislodge any excess. Insert both the He and H₂ needle
probes into the plastic cover, ensuring they avoid contact with the collar
wall or condensation. Conduct a 3-minute gas test and observe whether readings
rise, peak, or lower during this time.

15.  Analyser Reset and Repeat: Remove the needle probes and clear the
analysers with fresh air until they return to 0.00. If anomalous readings were
observed, reinsert the probes and conduct a second 3-minute reading. Clear the
analysers again after testing.

16.  Completion: After the final test, remove the probes, clear the
analysers, and securely replace the collar cap. Record all data.

 

About 80 Mile Plc:

80 Mile Plc, listed on the London AIM market, Frankfurt Stock Exchange, and
the U.S. Pink Market, is an exploration and development company focused on
high-grade critical metals in Tier 1 jurisdictions. With a diversified
portfolio in Greenland and Finland, 80 Mile's strategy is centred on
advancing key projects while creating value through partnerships and strategic
acquisitions.

The Disko-Nuussuaq nickel-copper-cobalt-PGE project in Greenland is a
primary focus for 80 Mile, developed in partnership with KoBold Metals. 80
Mile, through its wholly owned subsidiary Disko Exploration Ltd., has a
definitive Joint Venture Agreement with KoBold Metals to guide and fund
exploration efforts. The JV has completed intensive analysis and
interpretation of the extensive geochemical, geophysical, and geological data
collected during the previous exploration campaigns. Leveraging KoBold's
proprietary artificial intelligence and machine learning platforms, this
comprehensive analysis has resulted in the identification of seven initial
priority targets within the project area. These seven priority targets exhibit
spatial characteristics indicative of potential deposits on a scale comparable
to renowned mining operations such as Norilsk, Voisey's Bay, and Jinchuan. The
JV is now planning a focused ground-loop electromagnetic survey to refine and
prioritise each locality appropriately.

In Finland, 80 Mile currently holds three large scale multi-metal projects
through its wholly owned subsidiary FinnAust Mining Finland Oy. 80
Mile's Finland portfolio includes the Outokumpu project, where the
indication of industrial gases like helium and hydrogen adds significant
economic potential to the already prospective
copper-nickel-cobalt-zinc-gold-silver targets. 80 Mile is conducting further
exploration to fully assess these resources.

80 Mile's recent acquisition of White Flame Energy expands its portfolio into
the energy sector, adding large-scale licenses for industrial gas, natural
gas, and liquid hydrocarbons in East Greenland. Approved by shareholders
in July 2024, this acquisition diversifies the Company's assets and aligns
with its strategy to contribute to sustainable energy solutions, while also
exploring conventional energy resources.

The Dundas Ilmenite Project, 80 Mile's most advanced asset in
northwest Greenland, is fully permitted and progressing towards near-term
production. With a JORC-compliant Mineral Resource of 117 Mt at 6.1%
ilmenite and an offshore Exploration Target of up to 530 Mt, Dundas is poised
to become a major supplier of high-quality ilmenite. Recent discoveries of
hard rock titanium mineralization, with bedrock samples showing nearly double
the ilmenite content of previous estimates, further enhance the project's
world-class potential. 80 Mile owns 100% of the Dundas Ilmenite
Project under its subsidiary Dundas Titanium A/S in Greenland.

The Thule Copper Project is a significant component of 80 Mile's portfolio in
northwest Greenland, focused on exploring and developing high-grade copper
deposits within the Thule Basin in northwest Greenland. Leveraging existing
infrastructure and exploration credits, the project is strategically
positioned in an underexplored region with substantial mineral potential. 80
Mile's established basecamp at Moriusaq will support cost-effective
exploration, aligning with the Company's broader strategy to secure
high-quality copper and industrial gas projects.

 

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