Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF) plans to carry out more geophysical studies over the Balangida Rift Basin in Tanzania after completing airborne gravity and magnetic surveys.
The technique will now be applied to the Eyasi Basin to enable the evaluation of prospectivity potential of both basins and plan further exploration, the helium explorer said in a statement.
David Minchin, chief executive, added: “There is potential for these basins to have salt deposits in the younger stratigraphy, and the Balangida Rift Basin is likely to contain volcanic tuffs, both of which have the capacity to be effective top-seals.
“Furthermore, the Balangida Rift Basin offers potential for other high-value noble gasses with recent seep analysis assays showing 2% argon."
Lorna Blaisse, Helium One’s principal geologist, noted: "The workflow developed at Balangida has demonstrated robust analytical techniques that can now be applied to regional data over the Eyasi Rift Basin.”