Sep 20, 20222 min
After its 280k acre land acquisition in the Eyasi basin last week, Noble Helium is looking to acquire 380k acres in the North Rukwa basin after submitting 7 prospective license applications. These new licences would extend the Company’s future holdings to near full coverage of the prospective North Rukwa Basin. Collectively, NHE holds the largest interest in the Tanzanian rift basins that are prospective for helium, with a focus on the highly successful Basin Margin Fault Closure play.
Press Release:
Noble Helium Limited is pleased to announce that it has applied for seven additional Prospecting Licences (PL) at its flagship North Rukwa Project.
The results from the 2022 exploration program in the North Rukwa basin have provided strong supporting evidence for the basin’s helium prospectivity, in particular within its Basin Margin Fault Closures (BMFCs).
The Company has been carrying out background work in partnership with the University of Dar es Salaam, which has highlighted the extension of the BMFC play along strike.
As a result, the Company has now applied for a single 63km2 PL immediately south-west of its already held North Rukwa PLs, through its wholly owned subsidiary Rocket Tanzania Limited.
The Company has also applied for six further PLs, through its wholly owned subsidiary Cephei Tanzania Limited, totalling 1,475km2 and covering the remaining prospective part of the Rukwa Basin, immediately to the northwest of NHE’s North Rukwa PLs.
Award of these seven new PLs would result in Noble holding 3,005km2 of the Rukwa Basin and in total, Noble Helium’s 5,464km2 of helium exploration licences and applications in the East African Rift System (EARS) basins of Tanzania represents the largest single holding in this globally unique and highly prospective geological setting for helium.
Noble Helium’s existing North Rukwa PLs, covering 1,467km2, already host an independently certified unrisked summed mean Prospective Helium Resource of 176 Bcf, or equivalent to 30 years’ supply. The additional PLs provide the Company with highly prospective acreage that will be systematically explored using the effective and efficient methodologies deployed by the Company, with a goal of increasing its Helium Resources.
Noble Helium’s Co-Founder and CEO, Justyn Wood, commented:
“The highly encouraging results from our current exploration program continue to support the thesis that the North Rukwa Basin is highly prospective for primary helium. Completing our landholding in this area is a significant milestone for the Company, providing additional acreage to grow Noble’s Helium Resources.”
“The Company is looking forward to exploring these PLs once awarded.”