23
December 2024
Helium One Global Ltd
("Helium
One" or "the Company")
Development Drilling Update: Galactica
Project
Helium One Global (AIM: HE1), the primary
helium explorer in Tanzania with a 50% working interest in the
Galactica-Pegasus helium development project in Colorado, USA,
is pleased to provide the following updates and acknowledges the
announcement released today by Blue Star Helium
(ASX: BNL) ("Blue Star") regarding the Galactica-Pegasus project
in Las Animas County, Colorado, USA ("the Galactica Project").
Highlights
·
Works have commenced on site access and also the
well pad at Jackson #31
·
After completion of Jackson #31 civils, work will
commence on the Jackson #04 location
·
Drilling is scheduled to start in January at
Jackson #31 followed by Jackson #04
·
A further 3 approved wells are scheduled for this
campaign
Drilling is expected to start,
subject to weather, in mid-January 2025 at Jackson #31 followed by
drilling at Jackson #04. A further three approved wells are
scheduled for this campaign. The Company will provide further
details on sequencing after the drilling of Jackson #04.
For further information please visit
the Company's website: www.helium-one.com
Contact
|
Helium One Global
Ltd
Lorna Blaisse, CEO
Graham Jacobs, Finance and Commercial Director
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+44 20 7920 3150
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Panmure
Liberum Limited (Nominated
Adviser and Joint Broker)
Scott Mathieson
Nikhil Varghese
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+44 20 3100 2000
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Zeus Capital Limited
(Joint Broker)
Simon Johnson
Louisa Waddell
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+44 20 3829 5000
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Tavistock
(Financial PR)
Nick Elwes
Tara Vivian-Neal
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+44 20 7920 3150
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Notes to Editors
Helium One Global, the AIM-listed
Tanzanian explorer, holds prospecting licences across two distinct
project areas, with the potential to become a strategic player in
resolving a supply-constrained helium market.
The Rukwa and Eyasi projects are
located within rift basins on the margin of the Tanzanian Craton in
the north and southwest of the country. These assets lie near
surface seeps with helium concentrations ranging up to 10.4% helium
by volume. All Helium One's licences are held on a 100% equity
basis.
The Company's flagship southern
Rukwa Project is located within the southern Rukwa Rift Basin
covering 1,664km2 in south-west Tanzania. This
project is considered to be entering an appraisal stage following
the success of the 2023/24 exploration drilling campaign, which
proved a helium discovery at Itumbula West-1 and, following an
extended well test, successfully flowed 5.5% helium continually to
surface in Q3 2024.
Following the success of the
extended well test, the Company has now flowed significant
quantities of helium to surface and has filed a Mining Licence
application with the Mining Commission of the Tanzanian
Government.
The Company also owns a 50% working
interest in the Galactica-Pegasus helium development project in Las
Animas County, Colorado, USA. This project is operated by Blue Star
Helium Ltd (ASX: BNL).
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.
