By Samuel Indyk
Investing.com – Helium One (LON:HE1H) has announced it has commenced its 2D seismic campaign as part of its Phase 2 exploration programme at its Rukwa Project in Tanzania.
The seismic campaign will consist of approximately 200 line kilometres of 2D seismic targeting northern extensions of known structural highs that act as a focus for helium charge.
The company has confirmed it is working with AGS to deliver the project following the successful execution of the Phase 1 Infill seismic campaign in Q1 2021.
The work will be fast-tracked ahead of the onset of rains across Tanzania which could limit accessibility, following extensive cooperation between government departments, local communities and Helium One.
“We are delighted to commence the 2D seismic campaign as part of the Phase 2 exploration at Rukwa with the mobilisation of 2D seismic over the northern extensions of the Tai and Itumbula structural trends,” said Helium One Chief Executive Officer David Minchin. “Undertaking this campaign within the Rukwa Basin is not without challenge as we moved to get permitting, people and equipment in place ahead of the wet season.”
New board appointments
Separately, the company announced it has appointed a new COO and CFO. Colin Ivory is to join the board as Chief Operating Officer while Chris Ayre has been appointed as Chief Financial Officer.
“The appointment of Colin and Chris brings significant experience to our in-country operational team, their knowledge and leadership will allow us to continue to fast-track the development of Helium One's exploration portfolio as we move towards Phase 2 drilling in 2022,” Minchin added.
At 09:45BST, Helium One shares were trading higher by 6.9% at 7.50 pence per share.