Helium One Global Ltd Jackson-31 Drilling Update Galactica Project

RNS Number : 0190V

Helium One Global Ltd

29 January 2025

 

29 January 2025

 

 

Helium One Global Ltd

("Helium One" or "the Company")

 

Jackson-31 Drilling Update Galactica Project

Helium One Global (AIM: HE1), the primary helium explorer in Tanzania with a 50% working interest in the Galactica-Pegasus helium development project in Colorado, USA, acknowledges the Blue Star Helium (ASX: BNL) ("Blue Star") announcement issued today regarding the Galactica-Pegasus project in Las Animas County, Colorado, USA ("the Galactica Project").

 

Summary

·    Roads to Jackson-31 and Jackson-4 wells being gravelled to facilitate winter access

·    Rig mobilization to commence early-February due to weather conditions

 

Blue Star announced that winter conditions in Colorado have presented ongoing challenges. To ensure continued access to the well sites during cold, snow, and thaw periods, Blue Star has made the decision to gravel the roads leading to the Jackson-31 and Jackson-4 well locations. Road gravelling operations are progressing well despite recent severe winter weather impacting much of the USA.

To avoid anticipated snow and challenging weather conditions in the coming weeks, Blue Star have decided to delay the mobilization of the drilling rig to location. The rig move is now targeted for the week beginning 10 February.

The initial well in the drilling campaign remains the Jackson-31 SENW 3054, followed by the Jackson-4 L4 3154. The campaign includes three additional approved wells, with the final drilling sequence to be confirmed after the completion of Jackson-4.

Work is continuing on the permitting and engineering for the Pinon Canyon processing plant in anticipation of first gas production in 1H 2025.

 

 

 

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

Contact

Helium One Global Ltd Lorna Blaisse, CEO Graham Jacobs, Finance and Commercial Director	[phone]
Panmure Liberum Limited (Nominated Adviser and Joint Broker) Scott Mathieson Nikhil Varghese	[phone]
Zeus Capital Limited (Joint Broker) Simon Johnson Louisa Waddell	[phone]
Tavistock (Financial PR) Nick Elwes Tara Vivian-Neal	[phone]

 

Notes to Editors

Helium One Global, the AIM-listed Tanzanian explorer, holds prospecting licences across two distinct project areas, with the potential to become a strategic player in resolving a supply-constrained helium market.

The Rukwa and Eyasi projects are located within rift basins on the margin of the Tanzanian Craton in the north and southwest of the country. These assets lie near surface seeps with helium concentrations ranging up to 10.4% helium by volume. All Helium One's licences are held on a 100% equity basis.

The Company's flagship southern Rukwa Project is located within the southern Rukwa Rift Basin covering 1,664km² in south-west Tanzania.  This project is considered to be entering an appraisal stage following the success of the 2023/24 exploration drilling campaign, which proved a helium discovery at Itumbula West-1 and, following an extended well test, successfully flowed 5.5% helium continually to surface in Q3 2024.

Following the success of the extended well test, the Company has now flowed significant quantities of helium to surface and has filed a Mining Licence application with the Mining Commission of the Tanzanian Government.

The Company also owns a 50% working interest in the Galactica-Pegasus helium development project in Las Animas County, Colorado, USA. This project is operated by Blue Star Helium Ltd (ASX: BNL).

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.

 

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