Helium One Group Ltd (HE1.L) Submittal of Drilling ESIA at Rukwa Project

Helium One (AIM:HE1) (“Helium One” or “the Company”), is pleased to announce the advancement of its aggressive exploration programme at the Company’s Rukwa Project in southern Tanzania with submission of key environmental studies.

Highlights:

· Completion of Environmental and Social Impact Assessment (ESIA) and Compensation Survey, including consultation with communities in nine villages closest to the drill locations.

· Submission of key Environmental Impact Assessment for the Company’s proposed drilling programme at the Rukwa Project to the National Environment Management Council (NEMC) of the Tanzanian Government.

· The study, which covers a project area of 310km2 in three prospecting licences (PL10712/2015, PL10713/2015 and PL10727/2015), is a key document in securing environmental permits for exploration drilling and an important milestone towards Helium One’s maiden exploration drilling in Q2 2021.

David Minchin, Chief Executive Officer, commented:

“The Company is very pleased to be able to press ahead with its planned field activities in Tanzania, taking important steps towards our planned drilling programme in Q2 2021. Drill planning is progressing on schedule with rig-selection and contract negotiation well advanced. Submittal of the ESIA for drilling at the Rukwa Project is a significant milestone and the culmination of several months of fieldwork, baseline mapping and community consultation.”
 

Recorced 6th January 2021
 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

Rukwa Drilling Update

On 11th January Helium One submitted an Environmental and Social Impact Assessment (ESIA) for its proposed drilling programme at the Rukwa Project to the National Environment Management Council (NEMC) of the Tanzanian Government.

Helium One commenced Environmental and Social Impact Assessment activities in August 2020 to ensure the Company exceed minimum requirements of NEMC. The ESIA is a key document in securing environmental permits for exploration drilling and an important milestone towards Helium One’s maiden exploration drilling in Q2 2021. The study covers a project area of 310km2 in three prospecting licences (PL10712/2015, PL10713/2015 and PL10727/2015) and includes environmental and social baseline studies, impact assessments and mitigation measures.

Drilling at Rukwa will follow processing of data from an infill seismic campaign over shallow structures identified within the 310km2 drilling area. While the project benefits from over 1,000 kilometres of historic seismic data, additional infill seismic over high priority targets will allow better delineation of trap structures ahead of drilling. The seismic survey is fully permitted and, dependent on favourable ground conditions, is due to commence as the rainy season subsides in mid-Q1 2021.

Helium One would like to acknowledge the support of Songwe Region officials including the Regional Administrative Secretary (RAS), the Songwe Regional Office – Health and Environment Departments and the Momba District Council in completion of the ESIA study. Furthermore, Helium One would like to thank the Village Government Councils in Kamsamba, Mkonko, Usoche, Mpapa, Masanyita, Kasanu, Lwate, Samang’ombe and Itumbula villages, District Commissioner (DC) and District Executive Director (DED) for their continued support of the project.

Background information

Helium One is pursuing an aggressive exploration programme across is globally unique, large-scale, high-grade, Rukwa primary helium project in Tanzania which has 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 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 21 prospects and 4 leads based on historical drilling, reprocessed seismic lines, high resolution gravity survey, and surface seeps analysis.

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.


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