Helium One Global Ltd Advances Development Drilling Project

Helium One Global Ltd Advances Development Drilling Project

Helium One Global Ltd (LON: HE1H) (AIM: HE1), a notable helium exploration firm, has embarked on a significant journey with its development drilling at the Galactica-Pegasus project. This project, indicating Helium One's ambition to be a prominent figure in the helium sector, is located in Las Animas County, Colorado, USA.

Project Details and Timeline

The initial steps for the project have already begun, with preparations for site access and well pad construction underway at the Jackson #31 location. Once these foundational tasks are complete, similar preparations will commence at the Jackson #04 site. The drilling operations are planned to kick off in mid-January 2025 at the Jackson #31 site, followed by drilling at Jackson #04 in due course. The comprehensive drilling campaign has approved a total of five wells, with the company committed to sharing additional details regarding the drilling sequence as Jackson #04 progresses.

Expansion Beyond Tanzania

This new initiative at the Galactica-Pegasus project showcases Helium One's strategy to diversify its operations beyond its core holdings in Tanzania. The company has notable interests in the Rukwa Rift Basin, which has reached a pivotal appraisal stage after an encouraging exploration drilling campaign during 2023/24. This campaign yielded promising results, including a significant discovery at the Itumbula West-1 well, where an impressive flow rate of 5.5% helium was established during testing. In light of this success, Helium One is actively pursuing a Mining Licence application with the Tanzanian Government to further cement its operations.

Importance of Helium

Helium is an essential resource, playing a vital role in various industries. Its applications span from cutting-edge medical technologies and space exploration to high-tech manufacturing processes. By engaging in the Galactica-Pegasus project, Helium One seeks to address ongoing supply constraints in the helium market while positioning itself as a key contributor to the international helium supply chain.

Conclusion and Company Outlook

This update on the development drilling project signifies a proactive approach by Helium One Global Ltd in tackling the energy market's challenges while expanding its operational footprint. The strategic partnership with Blue Star Helium Ltd underlines the commitment to fostering collaborations that can bolster outcomes. As Helium One advances through this pivotal stage, stakeholders will be keen to observe how the results of their drilling efforts will influence both the company’s growth narrative and the broader helium industry landscape.

Frequently Asked Questions

What is Helium One Global Ltd known for?

Helium One Global Ltd is an exploration company primarily focused on the helium market, with significant projects in Tanzania and now in Colorado.

What is the Galactica-Pegasus project?

The Galactica-Pegasus project is a development drilling initiative by Helium One Global Ltd located in Colorado, aiming to address helium supply challenges.

When will the drilling at Jackson #31 begin?

Drilling at the Jackson #31 location is scheduled to commence in mid-January 2025.

Why is helium important in various industries?

Helium is crucial for a multitude of applications, including its use in medical technologies, space exploration, and high-tech manufacturing.

How does Helium One plan to expand its operations?

Helium One is expanding its operations by diversifying beyond its Tanzanian projects with new initiatives such as the Galactica-Pegasus project in Colorado.

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