Helium One Submits Mining License Application to Develop Southern Rukwa Helium Project

On 17^th September 2024, Helium One Global (AIM: HE1) announced that it submitted a Mining License (ML) application to Tanzania’s Ministry of Minerals and the Mining Commission for its flagship Southern Rukwa Helium Project.

Located in south-west Tanzania, the project encompasses the Itumbula-Tai and southern prospective areas.

The application for the ML follows a successful drilling campaign which led to the flow of significant quantities of helium to the surface. The project is now entering the appraisal stage, and the ML application has been submitted for commercial development.

The ML incorporates a detailed feasibility study for the southern Rukwa Helium Project, a detailed subsurface modeling, and a commercial development plan.

The company has also company fully relinquished its expired Prospecting Licenses (PLs) on the eastern side of Lake Rukwa, and the Balangida Rift Basin.

The company has deemed areas of limited prospectivity and difficult to access.

Whilst awaiting the award of the ML, the company-owned drilling rig, Epiroc 220, remains hot-stacked in the southern Rukwa region and operationally ready.

Commenting on the Rukwa ML application, the Chief Executive Officer of Helium One Lorna Blaisse commented: “We very much look forward to progressing the project in Tanzania through to production, as well as remaining opportunistic on further opportunities in-country and elsewhere.”

Speaking about the rig, Non-executive chairman James Smith highlighted: “[Following] our drilling program at Rukwa, which we commenced in Q3 as we outlined back in February 2023, we are very encouraged by the initial results we have seen at Tai 3 with elevated helium show.”

Helium One Projects in Tanzania

Helium One Global is a helium exploration company that holds 2,840 km² of PLs across three projects in Tanzania: Rukwa, Balangida, and Eyasi.

The Rukwa Project, located in southwestern Tanzania, covers 1,899 km² with 12 PLs and holds the world’s largest known primary helium resource, with a recoverable helium resource of 138 Bcf, verified by SRK Consulting in 2020. Surface seeps show helium concentrations as high as 10.2%.

The Eyasi Project, situated in north-central Tanzania, spans approximately 807 km² with three prospecting licenses. Initial gas seep analyses in 2015 revealed helium concentrations of up to 4.3% from thermal springs.

The company is focused on further exploration to assess its potential and remains open to acquiring future PLs.

The Balangida Project covers 134 km² in north-central Tanzania, with one PL. Gas sampling has recorded helium concentrations of up to 10.6% in both 2015 and 2022.

While some areas have been relinquished after a gravity-magnetics study, the project is still under consideration for future exploration due to its promising geological features.