Share Prices & Company Research

Market News

18 Feb 2021 | 08:54

Helium One begins infill seismic work at Rukwa

(Sharecast News) - Helium One announced the start of its infill seismic campaign with the mobilisation of survey and line-clearing crews to its wholly-owned Rukwa project in Tanzania on Thursday. The AIM-traded firm said the 150 kilometre infill seismic campaign would provide improved resolution over identified drill targets.

It said more than 30 people would be active on site including local staff, surveyors, clearing crew and support staff.

The board said good cooperation between government departments, local communities and Helium One Management had allowed critical seismic work at Rukwa to be fast-tracked.

The results of the high-resolution survey would be the final technical input before the start of Helium One's maiden drilling campaign, planned for the second quarter.

It said the 150 kilometres of infill seismic acquisition would target shallow trap structures identified from the interpretation of historic seismic and recent gravity gradient data.

The infill data would provide improved resolution on identified trap structures, and assist in the placing of drill collars for exploration drilling.

Line surveying and line clearing crews, which mobilised on Thursday, would employ more than 30 people in multiple crews to locate and clear lines for data acquisition.

The process, which could take up to a month to complete, would clear vegetation for the laying of seismic geophone nodes as well as providing access for vibroseis trucks and support vehicles during data acquisition.

"Our work programme on the ground In Tanzania is timely and coincides with a significant growth in the helium price as demand grows in critical areas," said chief executive officer David Minchin.

"The last six months has seen the average price of helium imported to China reach $375 per million cubic feet, as Chinese demand for helium in manufacturing semiconductors and fibre-optic cables grows at a 6% compound annual growth rate, and in MRI demand grows at 8%.

"There is a requirement for a new source of primary helium to support high value 'next-gen' technological, medical and industrial applications which Helium One has the capacity to fulfil as we seek to develop our globally significant Rukwa deposit."

At 0837 GMT, shares in Helium One Global were up 1.87% at 7.9p.
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
Continuing our Personal Service: View our Latest COVID-19 Update: 30th April 2021
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.