Commencement of Phase II 2D Seismic Acquisition
16 November 2021
Helium One Global Ltd
("Helium One" or "the Company")
Commencement of Phase II 2D Seismic Acquisition
Helium One Global (AIM: HE1), the primary helium explorer, is pleased to update the market on progress of the Company's Phase II 2D Seismic Campaign announced on 1st November 2021, with the announcement of commencement of Phase II 2D seismic acquisition, deployment of vibroseis trucks and nodes, and appointment of an expert Consultant Geophysicist to its Rukwa Project (100%) in Tanzania.
Highlights:
· Acquisition has commenced on the 200 line kilometre 2D seismic survey, targeting northern extensions of known structural highs that are believed to act as a charge focus for helium migration
· Excellent ground conditions have facilitated rapid progress of surveying and line clearing activities
· The acquisition of this Phase II seismic data will aim to enable the Company to define further drillable prospects, with potential for stacked targets to be tested in a planned 2022 drilling campaign
· Continued good co-operation with government and local communities allowed seismic work to be fast tracked
· Continued strengthening of Helium One operational team with appointment of Mark Beeson as Consultant Geophysicist
Helium One has commenced 2D Seismic data acquisition in the prospective Rukwa basin in southern Tanzania. Seismic acquisition parameters and line layout are based on the integration of data from the Phase I 2D seismic, the Company's Airborne Gravity Gradiometry dataset, remote sensing of surface helium anomalies utilising Sentinel-2 satellite data, and Helium One's technical understanding of charge and migration developed from Tai-1/-1a drilling results.
Phase II 2D Seismic is positioned deeper into the basin than the Phase I 2D Seismic, which was limited to areas of prospectivity close to the basin margin and to target depths of <1200m. By advancing Phase II 2D Seismic investigation northward and targeting extensions of known structural highs and charge focus points, the Company aims to identify targets with a lower charge risk and to target depths down to ~2500m for testing with a conventional drill rig.
David Minchin, Chief Executive Officer, commented:
"We are delighted to be able to progress rapidly to the next stage of the seismic campaign at Rukwa. With excellent ground conditions and very little vegetation in the last month of the dry season, our survey and line clearing teams have advanced quickly, allowing us to deploy vibroseis trucks and commence acquisition.
"Data acquired in this 2D seismic campaign will enable us to better visualise northern extensions of known structural highs that we believe act as a charge focus for helium migration. It is intended that new seismic data will identify 'deep' targets in structures similar to Tai that could be trapping substantial helium resources. This would provide additional drill ready targets ahead of our planned 2022 conventional drilling campaign.
"We are delighted to welcome Mark Beeson to work alongside Colin, Lorna, and the team as Consultant Geophysicist. Mark has developed significant expertise over 40 years as a geophysicist with oil and gas exploration and production companies, including as founder and Chief Geophysicist for African focused explorer Delonex Energy. His valuable experience strengthens our ability to secure and interpret high quality seismic data which will be invaluable in guiding our 2022 conventional drilling campaign."
For further information please visit the Company's website: www.helium-one.com
Contact
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Helium One Global Ltd David Minchin, CEO |
+44 20 7920 3150 |
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Beaumont Cornish Ltd (Nominated Adviser) James Biddle Roland Cornish |
+44 20 7628 3396 |
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Canaccord Genuity Limited (Joint Broker) Adam James |
+44 20 7523 8000 |
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Peterhouse Capital Limited (Joint Broker) Lucy Williams |
+44 20 7220 9792 |
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Tavistock (Financial PR) Nick Elwes Tara Vivian-Neal |
+44 20 7920 3150
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Notes to Editors
Helium One was founded in September 2015 to explore, develop, and ultimately, become a producer of low-carbon helium, a critical material that is essential in many modern technologies.
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. 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 10.6% He by volume.
The Company's flagship 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 with a portfolio of leads and prospects defined by high-resolution gravity gradiometry, and modern and historic 2D seismic. 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.
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 HOGLF.
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