RE: HE1 interview6 Jul 2021 10:06
Helium One Global Ltd (LON:HE1) chief executive David Minchin recently flew out to Tanzania amidst highly encouraging early indications from the explorer’s maiden well at the Rukwa project – in which evidence of helium was confirmed in drilling mud – and via social media he has now given investors key insights into this development.
Whilst the drilling of the Tai-1 well continues early indications point to an important ‘proof of concept’ breakthrough for the project, which was presented prior to drilling as potentially the largest new discovery of helium in the world.
The showing in the drilling mud represents a commercial grade of helium on its own. However, there’s a strong likelihood that dilution occurred as the gas was brought to the surface and that the actual in-situ grade will be significantly higher, though these are details that will need to be confirmed by future analysis.
In a short video, Minchin talks investors through the use of drilling mud and importantly the methods used to measure the helium content contained within the mud.