Helium One Global Ltd (LON:HE1) has announced the commencement of drilling operations at the Tai-2 exploration well at its 100% owned Rukwa Project in Tanzania.
Highlights
· Helium One has commenced exploration drilling at Tai-2, the second exploration well targeting the Tai prospect.
· The exploration well targets prospective Lake Bed stratigraphy, which was identified but not fully evaluated in Tai-1.
· Tai-2 is located ~20m from Tai-1 and utilises the same drill pad, saving time and money in relocation compared to mobilising from one site to another.
Tai-1 has de-risked the Rukwa Basin by proving a working helium system. With 3,500km2 of untested licences in the Rukwa area, Helium One is excited to continue exploration in this highly prospective helium basin.
With confirmation of a working helium system, Tai-1 supports ongoing exploration with helium shows identified at multiple stratigraphic intervals. The drilling at Tai-2 will test one of several targets highlighted for additional exploration following positive results from Tai-1.
David Minchin, Chief Executive Officer, commented:
“Having proven a working helium system with Tai-1, Helium One have substantially de-risked the Rukwa basin. Demonstration of seal and reservoir, as well as helium shows at multiple stratigraphic levels, indicates a working system in which free helium gas is waiting to be discovered. Helium One maintains 100% ownership of licences at Rukwa covering approximately 3,500km2 in what must now be considered the world’s premier basin for helium exploration.
“We are delighted to have started drilling activity at Tai-2, testing shallower targets that were not fully evaluated in Tai-1. Tai-2 is approximately 20m from Tai-1, is on the same drill pad and uses the same infrastructure, therefore saving time and money by drilling here rather than moving on to a new location.
“We are excited to continue with our 2021 exploration campaign with drilling at Tai-2.”
