Airborne Gravity Gradiometry completed

Noble Helium (ASX:NHE) continues to add new data to its geological model of its North Rukwa helium project in Tanzania, today announcing that it has completed the Airborne Gravity Gradiometry (AGG) and magnetic program across the full North Rukwa Project area.

Here, NHE has an independently certified 176Bcf of mean unrisked Prospective Helium Resource, which has the potential to be the world’s third largest helium reserve and the largest ever reserve held by a single company.

That's equivalent to ~30 years of annual global helium demand.

Preliminary AGG results are consistent with each of the previously mapped North Rukwa Basin Margin Fault Closure structures, which have a 100% success rate for oil and gas exploration in the East African Rift.

NHE also reports that a Soil Gas Survey is now complete over all of the project’s western area and 30% of its eastern area, with the remaining area to be surveyed in September. Today’s AGG results also display strong correlation with each of the Soil Gas Survey helium anomaly clusters identified so far.

September is shaping up to be a busy month of news flow for NHE with the 3D seismic survey on track to commence acquisition late next month, along with the full processing of the AGG for final structural interpretation.

We’re very pleased with NHE’s progress to date - today’s announcement noted that of the seven structures identified to date, all remain candidates for the 2023 drilling program.

NHE will select the two best drill targets from this pool of structures, so it looks like NHE has quite a range of options to choose from to maximise the chance of drilling success.

The company also confirmed that it has now commenced investigations into funding options for the 2023 drilling program, while it seeks to secure a drill rig for the maiden drill program.