REG - Helium One Global Ld - Galactica Project Drilling Update

Helium One GlobalAnnouncement

15/01/2025 07:00

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RNS Number : 4032T  Helium One Global Ltd  15 January 2025

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
(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 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 1,664km(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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