Helium One Update

RNS Number : 3580M

Scirocco Energy PLC

20 January 2021

 

20 January 2021

Scirocco Energy plc

("Scirocco" of "the Company")

Helium One Update

Mobilisation of Geochemical Surface Exploration at Eyasi Project

Scirocco Energy (AIM: SCIR), notes the positive update provided by Helium One Limited ("Helium One") (AIM: HE1) this morning, in which Helium One announces that work has commenced to mobilise surface geochemical exploration at the Eyasi Project (Helium One 100%) in southern Tanzania. Scirocco holds an interest of c. 4.3% in the share capital of Helium One, and 1 million share options.

Highlights:

· Surface exploration work to commence at the 804km ²  Eyasi Project, ~600km to the north of the Rukwa Project.

· Eyasi Project has numerous geological similarities to the Rukwa Project showing potential to host a helium deposit.

· Fieldwork will focus on evaluating historic seep locations as well as identifying potential new seep locations at the southern end of the project area.

· Desktop analysis utilising Advanced Spaceborne Thermal Emission and Reflection Radiometer (ASTER) data has identified anomalous features which may correspond to previously unknown helium-nitrogen macro and micro seep locations.

· Mobilisation of field crew equipped with a MiniRUEDI portable mass spectrometer to test the potential seep locations and extend the known helium-rich geochemical fairway over the Eyasi Project.

The full announcement can be seen here .  

For further information:

Scirocco Energy plc Tom Reynolds, CEO Doug Rycroft, COO	[phone]
Strand Hanson Limited, Nominated Adviser James Spinney / Ritchie Balmer / Rory Murphy	[phone]
WH Ireland Limited, Broker Harry Ansell / Katy Mitchell	[phone]
Buchanan, Financial PR Ben Romney / Kelsey Traynor / James Husband	[phone]

Notes to Editors

Helium One is an independent specialist explorer focuses on delineating and developing significant helium assets in Tanzania. This company holds more than 4,500 square km of exclusive licences encompassing four project areas, the largest of which is Rukwa. Scirocco holds a 13.7% interest in Helium One.

 

END

 

 

MSCBSGDBCDDDGBG