I believe that I need an array formula in order to accomplish this task, but I'm not entirely sure.
I need to count the number of records which match 'Cadmium' and are greater than a particular value (0.0005).
Here's an example of how my data is arranged. The real dataset contains thousands more species and rows.
Start cell A1:
Cadmium 0.0005
Chromium 0.0100
Copper 0.0010
Cadmium 0.0010
Nickel 0.3
Cadmium 0.0010
Thus the formula would be able to filter out cadmium, and those results greater than 0.0005 (i.e. two).