Successful helium discovery which flowed sustained 5.5% helium to surface during an extended well test of the ITW-1 well in August 2024. The Company has subsequently filed a Mining Licence application with the Government of Tanzania in order to develop the project towards commercialisation.
Rukwa project
The Company’s flagship southern Rukwa helium project is licensed within 1,086 km2 in the Rukwa rift basin in south west Tanzania. This geological basin occupies the western branch of the East Africa Rift System (“EARS”) and is associated with surface helium seeps that contain helium concentrations of up to 10.4%, with no association with hydrocarbons or CO2 and only nitrogen as the carrier gas.
This project is considered to be entering an appraisal and development stage following the success of the 2023/24 exploration drilling campaign, which provided a helium discovery on the Itumbula West-1 (“ITW-1”) well. During an extended well test (“EWT”) in Q3 2024, the well successfully flowed 5.5% helium continually to surface and up to 7.9% helium was measured from the faulted Karoo and fractured Basement plays. Prior to this, the Company drilled two additional exploration wells (Tai-1/1A and Tai-3) on the Tai prospect in 2021 and 2023 respectively, and these encountered elevated helium shows during drilling and recovered the first successful downhole helium sample in Tanzania (measured at 0.8% helium). This discovery is globally unique as it is known as one of the few helium projects which is not associated with neither hydrocarbons or CO2, positioning it within the “green” helium space.
Following the success of the extended well test in 2024, the Company has now filed a Mining Licence (“ML”) application with the Mining Commission of the Tanzanian Government in order to retain the Itumbula, Tai and southern prospective areas for commercial development.
Current license activity in southern Rukwa Basin
Geoseismic section through the Tai-3 well and illustrating where the downhole sample of 0.8% helium was recovered from the Lower Karoo Group
Geoseismic section illustrating the helium bearing intervals from the Itumbula West-1 well during the EWT programme in August 2024
The exploration programme undertaken in 2021 involved acquiring ~400km of 2D seismic and the drilling of two wells (Tai-1/-1A and Tai-2). This provided proof of concept and enabled the Company to reduce the exploration risk in the Rukwa Basin. The drilling of the Tai prospect demonstrated a working helium system and indicated the presence of good to excellent-quality reservoirs, thick sealing units and helium gas shows at multiple prospective intervals.
Gravity derived Basement map over Tai and Itumbula prospects, with 2D seismic surveys overlain
Geoseismic section across the Tai and Itumbula Highs
The closest town to the project is Mbeya which is approximately 130km away and is the fifth largest city in Tanzania. Mbeya can be accessed along the A7/TANZAM highway and excellent infrastructure exists in the town to support project operations.
