Key Highlights: 

  • Drilling results confirmed world-class helium concentrations of up to 6.8% in raw gas, as previously reported. 
  • Prospective Resource Report for helium obtained for a 2,000km2 area of the Company’s flagship Ramsay Project on the Yorke Peninsula (refer Figure 1). 
  • Mean estimate of 96 billion cubic feet (Bcf) of helium over approximately 25% of the Ramsay Project area (PEL 687), which, if replicated across the tenement, would potentially make this a world-class helium project. See Table 1 below for full details, including the high, low and best estimates. The Company notes that the estimated quantities of helium that may potentially be recovered by the application of a future development project(s) relate to undiscovered accumulations. These estimates have both an associated risk of discovery and a risk of development. Further exploration, appraisal and evaluation is required to determine the existence of a significant quantity of potentially recoverable helium. 
  • Helium is extremely rare, valuable and cannot be man-made. 
  • Future exploration flow testing and sample analysis planned for March 2024.

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