TIDMHE1
RNS Number : 5190I
Helium One Global Ltd
05 December 2022
5 December 2022
Helium One Global Ltd
("Helium One" or "the Company")
Balangida Basin Gravity and Magnetic Data Analysis
Helium One Global (AIM: HE1), the primary helium explorer in
Tanzania, is pleased to announce the completion of analysis of its
proprietary high resolution Falcon Airborne Gravity Gradiometry
("AGG") and aero-magnetic data over the Balangida Rift Basin
("Balangida"). This work will lead to further helium gas
exploration target generation in Balangida widening the overall
Company opportunity in Tanzania.
Summary
-- Balangida Rift Basin has the presence of high-grade helium
macro seeps enriched with other high-value noble gasses
-- Recent field work sampling showing 6.2%-6.4% helium and 2.0% argon
-- 3D Inversion study created detailed maps of depth to basement across the Balangida Rift Basin
-- Increased knowledge of depth to basement and sediment thickness
-- Greater understanding of rift geometry, basin evolution and
subsurface structure to aid exploration programme
-- Developed advanced workflow integrating proprietary
high-resolution Falcon AGG data with regional aero-magnetic,
land-based gravity and radiometric data for improved
calibration
-- Technique will now be applied to data for the Eyasi Basin to
enable the evaluation of prospectivity potential of both basins and
plan further exploration
David Minchin, Chief Executive Officer, commented:
"With so much operational focus on the Rukwa Rift Basin, where
we are targeting drilling in Q1 2023, I am pleased to be able to
report continued progress at Eyasi and Balangida. There is
potential for these basins to have salt deposits in the younger
stratigraphy, and the Balangida Rift Basin is likely to contain
volcanic tuffs, both of which have the capacity to be effective
top-seals. Furthermore, the Balangida Rift Basin offers potential
for other high-value noble gasses with recent seep analysis assays
showing 2% argon.
"Helium One holds prospecting licences totalling 2,966 km(2)
across the Tanzanian Helium Fairway. Following a successful
exploration campaign at Tai, the work we have commenced now will
allow us to fast-track the development of our portfolio of projects
and become a strategic player in resolving a supply-constrained
helium market."
Lorna Blaisse, Principal Geologist, commented:
"In collaboration with Getech, the technical team have developed
an innovative workflow, using our own Falcon AGG data with a range
of remote, regional and land-based geophysical datasets.
Sophisticated compound data analysis improves our confidence in the
results of the inversion study, giving better understanding of rift
geometry, basin evolution and subsurface structure to aid our
exploration programme.
"The workflow developed at Balangida has demonstrated robust
analytical techniques that can now be applied to regional data over
the Eyasi Rift Basin. This will enable the technical team to
evaluate prospectivity potential in both basins and to plan for
further geophysical studies in 2023 as we progress our exploration
programme."
Background
Helium One have partnered with leading global gravity and
magnetic geophysical specialists Getech in completing a 3D
inversion study of high resolution Falcon AGG and aero-magnetic
data over the Balangida Rift Basin, north-west Tanzania.
The Balangida Rift Basin is the smallest of the Company's
exploration projects, totalling 260km(2) in a single prospecting
licence. However, the basin is host to numerous high-grade, helium
/ nitrogen seeps, as well as indications of argon. Younger
stratigraphy may contain salt deposits and there is potential for
volcanic tuffs being deposited, improving potential for a
well-developed top seal.
Seep sampling undertaken by the Company in June / July 2022
identified numerous helium soil-in-gas anomalies. Macro-seep
sampling identified high-grade helium (6.2% - 6.4% He) with a
predominantly nitrogen carrier gas. Additionally, these results
included elevated readings for argon (2.0% Ar), a high-value noble
gas used in high-temperature industrial processes where ordinarily
non-reactive substances become reactive. Global argon markets are
expected to grow at 5.5% CAGR to 2030, offering potential to
develop argon as a valuable by-product to any future helium
discovery.
The gravity-magnetic 3D inversion study has included the
development of an advanced data analytical workflow, integrating
proprietary high-resolution Falcon AGG data with regional
aero-magnetic, land based gravity and radiometric data for improved
model calibration.
The completed study has generated a detailed series of maps,
increasing our knowledge of depth to basement and sediment
thickness across the Balangida Rift Basin, and allowed greater
understanding of rift geometry, basin evolution and subsurface
structure to aid the development of our ongoing exploration
programme.
The technique successfully developed at Balangida will now be
applied to the available data we have covering the Eyasi Basin.
Getech have commenced this phase of the work, with internal
technical workshops planned throughout December to review the
results. Conclusions of this work will allow the technical team to
draft a forward work programme for both basins, with a view to
acquiring 2D seismic in 2023.
Successful drilling at Tai will allow the Company to accelerate
exploration across both basins towards drill-ready status,
expanding our portfolio of world-class, high-grade, primary helium
exploration assets.
For further information please visit the Company's website:
www.helium-one.com
Contact
Helium One Global Ltd +44 20 7920
David Minchin, CEO 3150
Liberum Capital Limited (Nominated
Adviser and Joint Broker)
Scott Mathieson
Ed Thomas +44 20 3100
Nikhil Varghese 2000
Peterhouse Capital Limited (Joint Broker) +44 20 7220
Lucy Williams 9792
Tavistock (Financial PR)
Nick Elwes +44 20 7920
Tara Vivian - Neal 3150
Notes to Editors
Helium One Global, the AIM-listed Tanzanian explorer, holds
prospecting licences totalling 2,966km(2) across three distinct
project areas, with the potential to become a strategic player in
resolving a supply-constrained helium market.
The Rukwa, Balangida, and Eyasi projects are located within rift
basins on the margin of the Tanzanian Craton in the north and
southwest of the country. The assets lie near surface seeps with
helium concentrations ranging up to 10.6% He by volume. All Helium
One's licences are held on a 100% equity basis and are in close
proximity to the required infrastructure.
The Company's flagship Rukwa Project is located within the Rukwa
Rift Basin covering 1,900km(2) in south-west Tanzania. The project
is considered to be an advanced exploration project with leads and
prospects defined by a subsurface database including multispectral
satellite spectroscopy, airborne gravity gradiometry, 2D seismic
data, and QEMSCAN analysis. 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.
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 HLOGF.
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END
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