Helium One Global Ltd has received a pioneering mining license in Tanzania for helium, covering 480 km², and is reviewing the associated terms. CEO Lorna Blaisse confirmed free-flowing helium gas at the Jackson-31 well in Colorado, with plans to drill multiple additional wells soon. The company anticipates significant production by mid-2025, solidifying its role in the helium market.
Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF) has achieved a significant milestone with the recent issuance of an offer letter for a mining license in Tanzania. This license marks the first of its kind for helium, covering an extensive area of 480 km². CEO Lorna Blaisse emphasized the importance of this development, as it will facilitate further appraisal of the subsurface structure following the Itumbula discovery. Currently, the company is reviewing the associated terms, regulatory requirements, and potential partnerships with the Tanzanian government.
In addition to advancements in Tanzania, Ms. Blaisse provided updates on operations in the United States, particularly regarding the Jackson-31 well in Colorado. This well has confirmed free-flowing helium gas without water association, a crucial difference compared to the projects in Tanzania. The rig is now mobilizing to drill the Jackson-4 well, part of a broader campaign that will see multiple wells drilled in the upcoming weeks. The CEO also reiterated that production at Blue Star remains on schedule for the first half of 2025.
With ongoing projects in both Tanzania and the US, Helium One is advancing towards becoming a notable player in the helium production industry. As the company navigates these developments, stakeholders can anticipate significant updates in the near future.
In summary, Helium One Global’s recent licensing achievement in Tanzania represents a historic moment for helium exploration, while updates from the Jackson-31 well in Colorado indicate promising advancements in US operations. The company is well-positioned to enhance its status as a leading helium producer through its initiatives in both regions.
Original Source: www.proactiveinvestors.co.uk
