Helium One Global plc (LON:HE1) CEO Favid Minchin joins DirectorsTalk Interviews to discuss the completion of a multispectral satellite spectroscopy study which has identified multiple additional surface helium anomalies at Rukwa, Eyasi and Balangida (100%) project areas.
David talks us through the findings, the project fundamentals, shares his thoughts on some big moves in the share price and explains what is on the Helium One horizon.
· Multispectral satellite spectroscopy (“MSS”) study providing heat-map data for Helium at surface across the Company’s entire 4,500km2 licence area
· Abundant anomalies indicate widespread helium charge and migration across Rukwa, Eyasi and Balangida basins
· Evidence of a robust helium anomaly across the Tai structure where drilling last year encountered numerous helium shows
· Similar anomalies within the Phase II 2D Seismic area will assist in in seismic interpretation and target prioritisation
· Multiple surface anomalies identified within all three basins that require follow up geophysical investigation
A multispectral satellite spectroscopy (“MSS”) study was undertaken by remote sensing specialists DiRT Exploration, based in Cape Town. The study analysed spectral emissivity data to generate a heat map for helium signatures across the licence area. Spectroscopy data was calibrated using macro-seep compositional data from previously sampled seeps within the Rukwa, Eyasi and Balangida basins as well as the extensive Rukwa soil gas survey completed in 2016.
Surface anomalies not only provide us with valuable information about helium charge and migration pathways, but when combined with other datasets can also assist in the identification and prioritisation of drilling targets. Historically similar anomalies have been shown to be related to gases trapped in the subsurface and have been used globally as a pathfinder to rank prospects and focus further exploration efforts.
Helium One are encouraged to have identified a robust helium anomaly across the Tai structure, where drilling last year identified good quality reservoir and seal units as well as indicators for subsurface helium at multiple levels. Several similar surface anomalies within the Phase II 2D seismic area will assist in the interpretation of charge and migration pathways and target prioritisation within the newly acquired dataset.
Whilst the MSS data confirms to an extent what we already know about widespread charge within our licence areas, the Company has identified multiple additional anomalies within Rukwa, Eyasi and Balangida basins that will benefit from follow up examination using soil-in-gas analysis, ERT and 2D seismic geophysical investigations. These anomalies provide additional information on prospectivity across all three basin areas, however further ground truthing and interpretation is required to strip biotic and geomorphological signatures from the dataset and incorporate basin wide MSS data into work programme planning.
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.
It 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.
The company´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.