Helium One (AIM: HE1) is pleased to announce the commencement of drilling operations at the Tai-2 exploration well at its 100% owned Rukwa Project in Tanzania.
· Helium One has commenced exploration drilling at Tai-2, the second exploration well targeting the Tai prospect.
· The exploration well targets prospective Lake Bed stratigraphy, which was identified but not fully evaluated in Tai-1.
· Tai-2 is located ~20m from Tai-1 and utilises the same drill pad, saving time and money in relocation compared to mobilising from one site to another.
Tai-1 has de-risked the Rukwa Basin by proving a working helium system. With 3,500km2 of untested licences in the Rukwa area, Helium One is excited to continue exploration in this highly prospective helium basin.
With confirmation of a working helium system, Tai-1 supports ongoing exploration with helium shows identified at multiple stratigraphic intervals. The drilling at Tai-2 will test one of several targets highlighted for additional exploration following positive results from Tai-1.
David Minchin, Chief Executive Officer, commented:
“Having proven a working helium system with Tai-1, Helium One have substantially de-risked the Rukwa basin. Demonstration of seal and reservoir, as well as helium shows at multiple stratigraphic levels, indicates a working system in which free helium gas is waiting to be discovered. Helium One maintains 100% ownership of licences at Rukwa covering approximately 3,500km2 in what must now be considered the world’s premier basin for helium exploration.
“We are delighted to have started drilling activity at Tai-2, testing shallower targets that were not fully evaluated in Tai-1. Tai-2 is approximately 20m from Tai-1, is on the same drill pad and uses the same infrastructure, therefore saving time and money by drilling here rather than moving on to a new location.
“We are excited to continue with our 2021 exploration campaign with drilling at Tai-2.”
For further information please visit the Company’s website: www.helium-one.com
Helium One Global Ltd
David Minchin, CEO
+44 20 7920 3150
Notes to Editors
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. Through Helium One’s subsidiary companies Helium One (Gogota) Limited, Helium One (Stahamili) Limited and Helium One (Njozi) Limited, the Company has secured 18 Prospecting Licences covering more than 4,512 km² in three distinct project areas: the Rukwa, Balangida and Eyasi projects. These are located near surface seeps with helium concentrations ranging up to 10.5% He by volume.
The Rukwa Project is located within the Rukwa Rift Basin covering 3,448km2 in south-west Tanzania. The project is considered to be an advanced exploration project and the company has identified 4 prospects and 21 leads based on historical drilling, reprocessed seismic lines, high resolution gravity survey, and surface seep analyses.
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 HLOGF.
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