Noble Helium Limited reports significant resource upgrade

Noble Helium Limited (ASX:NHE) has announced a significant upgrade to the North Rukwa Western Margin prospective resources. The new data available for NSAI evaluation indicates better reservoir properties, higher helium concentrations, and more or larger prospective structures than previously. The total Western Margin P50 Helium Prospective Resource has increased by 66%, with the Lake Beds P50 Helium Prospective Resource also seeing a 31% increase. The deeper Karoo P50 Helium Prospective Resource has jumped 500% after mapping with the 2023 seismic. This upgrade has significant implications for the Eastern Margin, with a prospective resource update in progress.

Executive commentary on the resource upgrade

Shaun Scott, Managing Director & CEO of Noble Helium Limited, expressed his satisfaction with the prospective resource upgrade, stating, 'This prospective resource upgrade is further confirmation that the North Rukwa basin is a prolific, unique helium producing system. As I've said before we are in the right place with the best house in the best street. I look forward to drilling the shallow targets we are in the process of maturing and confirming commercial flow rates.'

Summary of the resource upgrade and outlook

The significant upgrade to the North Rukwa Western Margin prospective resources by Noble Helium Limited demonstrates the company's commitment to exploring and maximizing the potential of helium production. With the total Western Margin P50 Helium Prospective Resource increasing by 66%, and the deeper Karoo P50 Helium Prospective Resource jumping 500%, the company is poised for further development and exploration. The ongoing update of the Eastern Margin prospective resource indicates a proactive approach to harnessing the full potential of the North Rukwa basin. Noble Helium's ambitions and goals are evident in their efforts to confirm commercial flow rates and capitalize on the improved reservoir properties and higher helium concentrations. The company's focus on early, low-cost commercialization and the implications for the deeper plays on the eastern side of the basin highlight their strategic corporate direction and commitment to growth.