80 Mile announces helium and hydrogen discoveries after sampling historic holes in Finland
80 Mile PLC (AIM:80M, OTCQB:BLLYF), the helium-focused reboot of BlueJay Mining, has announced the discovery of significant concentrations of natural hydrogen and helium at its Hammaslahti project in Finland.
Surface sampling at two historical drill holes revealed hydrogen concentrations of 1000 ppm, representing the upper detection limit of the equipment used, the company said.
80 Mile added that helium was also detected with readings of up to 8.90%, stabilizing at 7.10%.
The discovery marks the first documented occurrence of natural hydrogen and helium flowing to the surface in the Hammaslahti area, 80 Mile highlighted.
It said that the presence of hydrogen at surface levels suggests the potential for substantial subsurface gas accumulations, while the detection of helium further highlights the industrial gas potential of the region.
In light of these findings, 80 Mile intends to accelerate its exploration efforts, with a focus on evaluating the Hammaslahti project’s potential as an industrial gas resource.
Managing director Eric Sondergaard said in a statement,
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.”
In London, 80 Mile shares traded up around 10%.
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80 Mile announces helium and hydrogen discoveries after sampling historic holes in Finland, source