Noble finds more helium in Tanzania

There’s more helium coming out of the fertile soil of Tanzania, which is good news for our helium Investment, Noble Helium (ASX:NHE).

In a positive development today, NHE’s Soil Gas Surveys at North Nyasa near the border of Malawi returned 7.8 parts per million (ppm), which is more than 40% above background levels - a strong indication that the southern Prospecting Licences (PLs) could warrant further exploration.

Below is where these licences are located:

The Soil Gas Surveys are a precursor to a maiden Prospective Resource Estimate at North Nyasa which could add to what is an already mammoth prospective resource at North Rukwa - NHE has a summed unrisked Prospective Helium Resource of 176 Bcf there.

For context, that would be the largest single company helium resource - if proven out.

North Rukwa is the primary focus of NHE’s exploration efforts and we’re expecting the 3D seismic survey to be completed shortly.

We think today’s news underlines the overall prospectivity of Tanzania for helium and as a long-term project for 2023, sets NHE up nicely for future exploration activities.

With the potential to deliver ~30 years of annual helium demand at North Rukwa alone and a market size of ~$5BN for helium - we think the market could be underestimating the scope of NHE’s project as part of multi-decade demand thematic.

We’re banking on exponential demand from high tech applications such as MRI machines, aerospace and among other things particle accelerators such as the Large Hadron Collider in Switzerland/France.

What’s next for NHE?

All eyes are on the North Rukwa 3D seismic as NHE firms up its targets - NHE recently announced that it is refocusing on the eastern Chilichili leads and the very promising western leads on the other side of Lake Rukwa. With processing and interpretation to come, we’re looking forward to seeing what these Basin Margin Fault Closure plays look like.