Business
Completion of Drill Campaign and Start of Phase 2
Completion of Drill Campaign and Start of Phase 2.
About this update from Helium One Global Limited
[{"type":"text","content":"\n \n \n \n RNS Number : 8158J\n Helium One Global Ltd\n 26 August 2021\n \n \n \n \n \n \n \n \n \n \n \n \n \n 26 August 2021\n \n \n \n Helium One Global Ltd\n \n \n (\"Helium One\" or \"the Company\")\n \n \n \n \n \n Completion of 2021 Drilling Campaign\n \n \n Commencement of Phase 2 Exploration\n \n \n Helium One (AIM: HE1) is pleased to announces the completion of its 2021 exploration drilling campaign with significant new data to move rapidly to Phase 2 exploration work at its 100% owned Rukwa Project in Tanzania\n .\n \n \n \n Highlights:\n \n \n · \n Definition of a working helium system in the Rukwa Basin, de-risking our 3,500km2 license area\n \n \n · \n Greater knowledge of helium geology allows identification of 'Shallow' and 'Deep' target types for Phase 2 Exploration\n \n \n · \n New 'Shallow' targets can be investigated by appropriate geophysical techniques to identify prospects for low-cost drilling\n \n \n · \n New 'Deep' structural targets beneath well-developed 130m thick Top Karoo seal can be investigated by 2D infill seismic on defined gravity targets \n \n \n · \n Company well financed with £10m to advance the Rukwa Basin towards discovery \n \n \n · \n Tai-2, although completed without identifying helium gas, has provided valuable information on shallow trap and seal potential \n \n \n \n \n \n \n Ian Stalker, Non-Executive Chairman, commented:\n \n \n \n \n \n \n \"Work undertaken so far in 2021 has significantly de-risked the Rukwa Basin by demonstrating a working helium system. 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.\n \n \n \"With our maiden exploration campaign clearly demonstrating prospectivty at multiple levels across the basin, the Company can now move rapidly to develop a Phase 2 exploration programme that offers value for money. Using various geophysical techniques, we can quickly and cheaply advance both 'Shallow' and 'Deep' target types to de-risk our ability] to make a commercial discovery with Phase 2 drilling. \n \n \n \"The Company is well financed to deliver Phase 2 with a focus maintained on cost-effective exploration as we develop Rukwa towards discovery.\"\n \n \n \n \n \n \n David Minchin,...