REG - Helium One Global Ld - Jackson-31 Drilling Update Galactica Project

Helium One GlobalAnnouncement

29/01/2025 07:00

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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
(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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