Zak Mir talks to David Minchin, CEO Helium One, as his company announces the start of Phase 2 exploration work at its 100% owned Rukwa Project in Tanzania.
Completion of 2021 Drilling Campaign
Commencement of Phase 2 Exploration
Helium One (AIM: HE1) is pleased to announce the completion of its 2021 exploration drilling campaign with significant new data to move rapidly to Phase 2 exploration work at its 100% owned Rukwa Project in Tanzania.
Highlights:
· Definition of a working helium system in the Rukwa Basin, de-risking our 3,500km2 license area
· Greater knowledge of helium geology allows identification of ‘Shallow’ and ‘Deep’ target types for Phase 2 Exploration
· New ‘Shallow’ targets can be investigated by appropriate geophysical techniques to identify prospects for low-cost drilling
· New ‘Deep’ structural targets beneath well-developed 130m thick Top Karoo seal can be investigated by 2D infill seismic on defined gravity targets
· Company well financed with £10m to advance the Rukwa Basin towards discovery
· Tai-2, although completed without identifying helium gas, has provided valuable information on shallow trap and seal potential
Next Steps
Helium One remains well financed for the proposed exploration programme with a cash position of ten million pounds. By focussing on using various geophysical techniques to reduce geological risk and improve drill targeting, the Company remains committed to cost-effective exploration. Helium One plans for rapid deployment of Phase 2 exploration activities and is working to mobilise various geophysical investigations before the commencement of seasonal rains in November.
For further information please visit the Company’s website: www.helium-one.com
