3D Seismic Surveys Kachinga Lead

Noble Helium (ASX:NHE) announced today that it has completed the acquisition of all three 3D seismic swaths on the western side of North Rukwa Project.

NHE is moving very quickly here - we’re pleased that the company has done everything it said it would when it IPOed.

This is what the swaths look like (a strip of terrain from targeted by a 3D seismic survey):

Importantly, NHE said that the initial readouts from the Kachinga lead, “clearly demonstrates the Rukwa Basin’s sedimentary layers climbing toward the Basin Margin Fault, consistent with our pre-Airborne Gravity Gradiometry (AGG) geological model and the subsequent AGG.”

In layman’s terms - this is good. It means NHE’s geological model is accurately defining the subsurface trends which it will be targeting in its maiden drill program in Q3 2023.

NHE provided a great 3D model of what the company are working with in a recent presentation:

From our understanding, the helium accumulates on the edges of the basin margin fault, something which helium soil gas reading confirm.

The prize on offer is hard to understate for the $34M capped NHE: liquid helium sells at up to 50 times the price of LNG, and NHE is going after a summed unrisked mean Prospective Helium Resource 176 Bcf.

The early readings from the 3D seismic survey should increase the accuracy of its geological model, which in turn should help NHE market a farmout agreement.

NHE can show its targets with greater confidence, increasing the value of the proposed targets.

What’s next for NHE? Fast-track 3D cubes from the Mbelele and Dagaa leads (left side of the map above).