Widespread elevated helium, gradiometry next
Our helium exploration Investment Noble Helium (ASX:NHE) has reported “outstanding” Soil Gas Survey results from the western side of its North Rukwa Basin Helium Project in Tanzania.
NHE got up to 7.3 parts per million (ppm) of helium on the western side of the project from Soil Gas Surveying (part of the geochemical arm of its Tanzanian helium exploration).
This was part of an overall pattern of “widespread elevated” helium levels that NHE found.
That 7.3 ppm result is 35% above background levels which is a promising early sign that there is helium trapped below NHE’s grounds.
NHE is now moving to the eastern side of its project for additional Soil Gas Surveying to be completed by early August and detailed analysis to come in mid-August.
It’s all part of an exploration program that will combine geochemistry with the legacy 2D seismic data, airborne gravity gradiometry and a more sensitive 3D seismic survey to generate two targets for drilling in 2023.
In yesterday’s announcement, it was also pleasing to see that the plane for the airborne gravity gradiometry is due to arrive this week and the survey will commence by this weekend.
NHE will be using a top of the line Lockheed-Martin gradiometry instrument which should contribute to target generation with “maximum confidence.”
It’s good to see NHE sticking to a tight schedule as it goes after a potentially globally significant helium resource.
We’ve updated our milestones accordingly on our NHE Investment Memo:
🔄 Airborne gravity gradiometry (Q2-Q3 2022)
🔄 Geochemistry survey (Q2-Q3 2022)
We also appreciated NHE providing an update on how the 3D seismic campaign interacts with its ongoing knowledge transfer and stakeholder efforts. The survey is anticipated to create 250 jobs and the vast majority of those jobs will be local Tanzanians drawing on their relationship with University of Dar Es Salaam.
What’s next for NHE? In addition to the gradiometry survey and the final analysis of the geochemistry results, the big milestone coming up is the 3D Seismic survey in Q3 2022, right around the corner.
