Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF) boss Lorna Blaisse (LB) sat down with Proactive's Stephen Gunnion (SG) to discuss the significant developments at its Itumba West-1 project.
SG: "Lorna, could you share with us the latest developments in Helium One's exploration campaign, particularly regarding the Itumba West-1 project?"
LB: "Absolutely, Stephen. We've made significant progress with Itumba West-1, reaching a depth of 961 meters, which includes delving 40 meters into the basement. This is beyond our initial target zones, and we're primarily focusing on the faults. The early indications are highly promising for us, and we're now preparing for detailed logging and essential well testing."
SG: "Can you elaborate on the preliminary results from Itumba West-1, especially in terms of helium levels?"
LB: "Certainly. We've observed elevated helium levels at Itumba West-1, which are over 20 times the background level. This is a substantial improvement compared to our previous wells. However, these are preliminary results, and we're looking forward to confirming them with more accurate downhill samples. These samples will give us a much clearer picture of the helium concentration at the site, which is crucial for us to evaluate its true potential."
SG: "You also mentioned encountering elevated hydrogen levels. How does this impact the project?"
LB: "Indeed, we encountered elevated hydrogen levels in the Lake Beds Formation. This suggests a complex geological interaction, which is actually quite exciting for us. Many global helium projects are associated with hydrogen, so this discovery adds a new layer of potential to our project."
SG: "What are the next steps for Helium One in this exploration journey?"
LB: "The next steps involve detailed logging and well testing, which we expect to take around 7-10 days. This phase will include image logging to accurately map the fault zones, which is vital for guiding the positioning of packers for well testing. We are quite optimistic about the increased helium concentration across the fault, and these steps are in line with our expectations for the project."