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RNS Number : 0553Z Helium One Global Ltd 03 March 2025
The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as amended by The Market Abuse (Amendment) (EU Exit)
Regulations 2019.
03 March 2025
Helium One Global Ltd
("Helium One" or "the Company")
Company Receives Offer of Mining Licence for Southern Rukwa Helium Project,
Tanzania
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, is pleased to provide the following update on its southern
Rukwa Helium Project in Tanzania.
Highlights
§ The Company has received an offer letter from the Mining Commission ("MC")
in Tanzania for the grant of a Mining Licence ("ML") for the southern Rukwa
Helium Project
§ The potential ML will be for an area of approximately 480km(2) and will
cover all of the southern Rukwa Helium Project in the Momba, Sumbawanga
Districts in the southern Rukwa Basin and is consistent with the area that was
applied for under the application
§ The offer of the ML follows approval by the Ministry of Minerals ("MoM")
who have given the MC permission to grant a larger than standard ML that will
enable the southern Rukwa Helium Project to be developed to its full potential
§ Offer letter and terms are currently being reviewed by the Company
Lorna Blaisse, Chief Executive Officer, commented:
"As we continue to drive forward, this achievement for the Company marks a
milestone in our progress as the primary helium company in Tanzania.
This historical moment, for both the Company and for Tanzania, is the first ML
to be offered for helium in Tanzania and also the first of such a significant
size. I would like to express my appreciation to the Ministry of Minerals and
the Mining Commission for their support of this application and project, and
for entrusting the Company in paving the way for this flagship commodity
sector in-country. I would like to thank the Helium One team who have worked
so hard on this and to all our shareholders for their continued support."
Details
The offer letter of the ML is an achievement for the Company, following the
discovery at Itumbula West-1 last year. The ML application, which was
submitted in September 2024, was accompanied by a feasibility study which
outlines the potential of the helium resource in southern Rukwa.
Following approval from the MoM, the MC were able to allow the full 480km(2)
which was applied for, and which is significantly larger than a standard ML
area for conventional mining practices. The MoM and MC recognise that the
helium potential in southern Rukwa is geologically unique given the gas in
solution play, and that the Company has identified extensive faulting
mechanisms and fracture networks and by including these in the ML area, it
provides the Company with the best opportunity to fully leverage the helium
potential.
The offer letter and terms are now under detailed review by the Company and
further announcements will be made in due course.
For further information please visit the Company's website: www.helium-one.com
(http://www.helium-one.com)
Contact
Helium One Global Ltd +44 20 7920 3150
Lorna Blaisse, CEO
Graham Jacobs, Finance and Commercial Director
Panmure Liberum Limited (Nominated Adviser and Joint Broker) +44 20 3100 2000
Scott Mathieson
Nikhil Varghese
Zeus Capital Limited (Joint Broker) +44 20 3829 5000
Simon Johnson
Louisa Waddell
Tavistock (Financial PR) +44 20 7920 3150
Nick Elwes
Tara Vivian-Neal
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 southern 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 Helium Project is located within the
southern Rukwa Rift Basin covering 1,664km(2) 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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