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On 15 January 2025, Helium One Global Ltd provided a drilling update for the Galactica Project, in which it holds a 50% working interest. Site works are complete and all casing delivered to the Jackson-31 and Jackson-04 helium wells. The drilling contractor is preparing to mobilise the rig to Jackson-31, with spud expected early next week, and the drilling campaign includes three additional approved wells.
| Date | 15 Jan 2025 |
| Time | 07:00:05 |
| Category | Miscellaneous |
| ID | 4032T |
15 January 2025
Helium One Global Ltd
("Helium One" or "the Company")
Galactica Project Drilling Update
Helium One Global (AIM: HE1), acknowledges the announcement released today by Blue Star Helium (ASX: BNL, OTC:BSNLF) ("Blue Star") regarding the Galactica-Pegasus project in Las Animas County, Colorado, USA ("the Galactica Project") and is pleased to provide the following update.
Highlights
· Site works at the Jackson-31 and Jackson-04 helium wells are complete
· All casing has been delivered to site
· The drilling contractor is preparing to mobilise the rig to Jackson-31 and spud is expected (early) next week
All site works have been finalised at the Jackson-31 SENW 3054 and Jackson-04 L4 3154 development well locations. All casing has been delivered to site and the drilling contractor is preparing to mobilise equipment and rig up at Jackson-31 (early) next week, with drilling expected to commence immediately after the rig is in place.
Upon completion of Jackson-31, the rig will move to Jackson-04. This drilling campaign includes three additional approved wells, with the drilling sequence to be confirmed after Jackson-04 is drilled.
For further information please visit the Company's website: www.helium-one.com
Contact
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Helium One Global Ltd Lorna Blaisse, CEO Graham Jacobs, Finance and Commercial Director |
+44 20 7920 3150 |
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Panmure Liberum Limited (Nominated Adviser and Joint Broker) Scott Mathieson Nikhil Varghese |
+44 20 3100 2000 |
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Zeus Capital Limited (Joint Broker) Simon Johnson Louisa Waddell |
+44 20 3829 5000
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Tavistock (Financial PR) Nick Elwes Tara Vivian-Neal |
+44 20 7920 3150
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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.