TIDMHE1
RNS Number : 4519S
Helium One Global Ltd
16 November 2021
16 November 2021
Helium One Global Ltd
("Helium One" or "the Company")
Commencement of Phase II 2D Seismic Acquisition
Helium One Global (AIM: HE1), the primary helium explorer, is
pleased to update the market on progress of the Company's Phase II
2D Seismic Campaign announced on 1(st) November 2021, with the
announcement of commencement of Phase II 2D seismic acquisition,
deployment of vibroseis trucks and nodes, and appointment of an
expert Consultant Geophysicist to its Rukwa Project (100%) in
Tanzania.
Highlights:
-- Acquisition has commenced on the 200 line kilometre 2D
seismic survey, targeting northern extensions of known structural
highs that are believed to act as a charge focus for helium
migration
-- Excellent ground conditions have facilitated rapid progress
of surveying and line clearing activities
-- The acquisition of this Phase II seismic data will aim to
enable the Company to define further drillable prospects, with
potential for stacked targets to be tested in a planned 2022
drilling campaign
-- Continued good co-operation with government and local
communities allowed seismic work to be fast tracked
-- Continued strengthening of Helium One operational team with
appointment of Mark Beeson as Consultant Geophysicist
Helium One has commenced 2D Seismic data acquisition in the
prospective Rukwa basin in southern Tanzania. Seismic acquisition
parameters and line layout are based on the integration of data
from the Phase I 2D seismic, the Company's Airborne Gravity
Gradiometry dataset, remote sensing of surface helium anomalies
utilising Sentinel-2 satellite data, and Helium One's technical
understanding of charge and migration developed from Tai-1/-1a
drilling results.
Phase II 2D Seismic is positioned deeper into the basin than the
Phase I 2D Seismic, which was limited to areas of prospectivity
close to the basin margin and to target depths of <1200m. By
advancing Phase II 2D Seismic investigation northward and targeting
extensions of known structural highs and charge focus points, the
Company aims to identify targets with a lower charge risk and to
target depths down to 2500m for testing with a conventional drill
rig.
David Minchin, Chief Executive Officer, commented:
"We are delighted to be able to progress rapidly to the next
stage of the seismic campaign at Rukwa. With excellent ground
conditions and very little vegetation in the last month of the dry
season, our survey and line clearing teams have advanced quickly,
allowing us to deploy vibroseis trucks and commence
acquisition.
"Data acquired in this 2D seismic campaign will enable us to
better visualise northern extensions of known structural highs that
we believe act as a charge focus for helium migration. It is
intended that new seismic data will identify 'deep' targets in
structures similar to Tai that could be trapping substantial helium
resources. This would provide additional drill ready targets ahead
of our planned 2022 conventional drilling campaign.
"We are delighted to welcome Mark Beeson to work alongside
Colin, Lorna, and the team as Consultant Geophysicist. Mark has
developed significant expertise over 40 years as a geophysicist
with oil and gas exploration and production companies, including as
founder and Chief Geophysicist for African focused explorer Delonex
Energy. His valuable experience strengthens our ability to secure
and interpret high quality seismic data which will be invaluable in
guiding our 2022 conventional drilling campaign."
For further information please visit the Company's website:
www.helium-one.com
Contact
Helium One Global Ltd
David Minchin, CEO +44 20 7920 3150
Beaumont Cornish Ltd (Nominated
Adviser)
James Biddle
Roland Cornish +44 20 7628 3396
Canaccord Genuity Limited (Joint
Broker)
Adam James +44 20 7523 8000
Peterhouse Capital Limited (Joint
Broker)
Lucy Williams +44 20 7220 9792
Tavistock (Financial PR)
Nick Elwes
Tara Vivian-Neal +44 20 7920 3150
Notes to Editors
Helium One was founded in September 2015 to explore, develop,
and ultimately, become a producer of low-carbon helium, a critical
material that is essential in many modern technologies.
Helium One has identified a globally unique, large-scale,
high-grade, primary helium project in Tanzania with the potential
to become a strategic asset in resolving a supply-constrained
market.
Helium One's assets are located within the rift basins on the
margin of the Tanzanian Craton. The Company has secured 18
Prospecting Licences covering more than 4,512 km(2) in three
distinct project areas: the Rukwa, Balangida and Eyasi projects.
These are located near surface seeps with helium concentrations
ranging up to 10.6% He by volume.
The Company's flagship Rukwa Project is located within the Rukwa
Rift Basin covering 3,448km(2) in south-west Tanzania. The project
is considered to be an advanced exploration project with a
portfolio of leads and prospects defined by high-resolution gravity
gradiometry, and modern and historic 2D seismic. The Rukwa Project
has been de-risked by the 2021 drilling campaign, which identified
reservoir and seal with multiple prospective intervals from basin
to near surface within a working helium system.
SRK Consulting have reported a 'Best Estimate' Un-risked
Prospective Resource of 138 Bcf (2U/P50) for the Company's Rukwa
Project, meaning that the project has potentially strategic global
implications with the ability to significantly resolve helium
supply/demand issues.
All Helium One's licences are held on a 100% equity basis and
are in close proximity to the required infrastructure.
Helium One is listed on the AIM market of the London Stock
Exchange with the ticker of HE1 and on the OTCQB in the United
States with the ticker HOGLF.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
UPDGZMMMLKKGMZM
(END) Dow Jones Newswires
November 16, 2021 02:00 ET (07:00 GMT)
Helium One Global (LSE:HE1)
Historical Stock Chart
From Apr 2024 to May 2024
Helium One Global (LSE:HE1)
Historical Stock Chart
From May 2023 to May 2024