Thor Energy PLC (AIM:THR, OTCQB:THORF, ASX:THR) announced positive soil gas geochemistry results from its HY-Range project (RSEL 802) in South Australia, indicating the presence of significant natural hydrogen and helium systems. The findings, released on Monday, mark a pivotal step in de-risking the project and refining future exploration targets, leading to a notable increase in the company's share price.

The geochemical survey revealed hydrogen readings exceeding 1,000 parts per million (ppm) and peaking at 3,000 ppm, a substantial increase compared to typical atmospheric background values of 0.5 ppm. Concurrently, helium values reached up to 27 ppm, more than five times the typical background atmospheric values of 5 ppm. These elevated concentrations were recorded across the license area, providing compelling evidence of active generation and migration of both gases.

The comprehensive survey successfully defined four principal focus areas within the HY-Range license: Mallala, Locheil, Crystal, and Mt Lock. These high-grade zones, identified through the correlation of gas values with mapped geological features, will enable Thor Energy to prioritize acreage and precisely define drilling targets for future exploration. The company emphasized that while soil gas sampling can be prone to anthropogenic contamination, the distribution and correlation with geological structures strongly support the natural origin of these highly elevated readings, particularly given helium's resistance to similar contamination risks.

Andrew Hume, Managing Director of Thor Energy, commented on the results, stating, “These results effectively de-risk the presence of active and potentially prolific natural hydrogen and helium systems in our licence.” He further highlighted that this achievement establishes the HY-Range project as a highly prospective license for natural hydrogen and helium exploration, allowing the company to focus resources effectively on defining and high-grading drilling targets.

This development positions Thor Energy at the forefront of natural hydrogen and helium exploration, a sector gaining increasing attention for its potential to provide low-carbon energy and critical industrial gases. Natural hydrogen, often termed 'gold hydrogen' or 'white hydrogen,' is generated geologically and offers a potentially cost-effective and environmentally friendly alternative to conventional hydrogen production methods. Helium, a non-renewable and increasingly scarce noble gas, is vital for various high-tech industries, including medical imaging, space exploration, and semiconductor manufacturing.

The company's near-term work will concentrate on ground-truthing these initial findings through increased sample density geochemistry and employing techniques to acquire samples at deeper depths or for longer durations. This will further enhance the understanding of the hydrogen and helium systems and guide the selection of the most prospective drilling locations. Concurrently, Thor Energy announced that Andrew Hume, who joined in February 2025, will assume the role of Chief Executive Officer and Managing Director, overseeing the acceleration of the HY-Range project plans and leveraging recently secured co-located gas storage licenses adjacent to RSEL802.