Commencement of ERT Survey

RNS Number : 8640A

Helium One Global Ltd

07 February 2022

 

07 February 2022

Helium One Global Ltd

("Helium One" or "the Company")

Commencement of ERT Survey

Helium One Global (AIM: HE1), the primary helium explorer, is pleased to announce the commencement of an Electrical Resistivity Tomography ("ERT") survey at its Rukwa (100%) project area.

Highlights

· Initial testing completed over Tai prospect with data collected to date justifying continued operation

· ERT to image specific priority areas identified from Phase I and Phase II 2D seismic as well as investigating surface helium anomalies identified in recently completed multispectral satellite spectroscopy ("MSS") study

· Results will contribute towards out understanding of the helium system and future exploration planning

David Minchin, Chief Executive Officer, commented:  

"We are pleased to have commenced our ERT survey at the Rukwa project area.  With the arrival of the rainy season providing saturated ground conditions ideal for running the ERT survey, results to date have shown interesting resistivity anomalies that justify additional data acquisition, interpretation and evaluation.

"Having completed our testing phase over the Tai prospect, the survey team will now move on to investigate other priority targets identified in Phase I and Phase II 2D seismic, as well as areas with near surface helium anomalies identified in our recent MSS study.

"We look forward to receiving the results of this survey which will contribute significantly to our understanding of potential shallow helium plays within the top 200m of the Rukwa basin."

Background

The ERT survey is designed to identify resistivity anomalies within the ultra-shallow zone (<200m), allowing a better understanding of near surface geology which is poorly resolved by seismic. The survey is best run during the rainy season where saturated ground conditions allow better coupling of source and electrodes, providing improved resolution to depth.

Data collected from the survey can be used to direct further study into areas that could be prospective for potential shallow gas accumulations.  Near surface geophysical investigation also assists in correlating surface anomalies identified in recently acquired MSS studies with deeper lying structures identified in 2D seismic.  Interpreted data can allow the Company to better understand helium charge and migration across the prospective area.

Work has commenced with test lines satisfactorily completed over the Tai prospect.  Processed data shows sufficient response to justify continuation of the ERT survey over other priority targets identified in Phase I and Phase II 2D seismic campaign, as well as near surface helium anomalies recently identified by multispectral satellite spectroscopy.  

For further information please visit the Company's website: www.helium-one.com  

Contact

Helium One Global Ltd David Minchin, CEO	[phone]
Beaumont Cornish Ltd (Nominated Adviser) James Biddle Roland Cornish	[phone]
Canaccord Genuity Limited (Joint Broker) Adam James	[phone]
Peterhouse Capital Limited (Joint Broker) Lucy Williams	[phone]
Tavistock (Financial PR) Nick Elwes Tara Vivian-Neal	[phone]

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 HLOGF.

Technical Sign off

Lorna Blaisse, the Principal Geologist of the Company, who has over 15 years of relevant experience in the Oil and Gas Industry, has approved the information contained in this announcement. Lorna Blaisse is a fellow of the Geological Society of London and a member of Petroleum Exploration Society of Great Britain.

 

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