D3 Energy Ltd (ASX:D3E, OTCQX:DNRGF) has been awarded five new Technical Cooperation Permits in South Africa's Free State Province, adding around 47,000 acres of prospective helium and methane acreage to its existing position.
The permits - TCP280, TCP281, TCP282, TCP283 and TCP284 - are contiguous with D3 Energy's existing exploration and application areas and lie along structural trends that host the company's existing discoveries.
The expansion builds on appraisal work at ER315, where shallow boreholes have previously recovered helium concentrations of up to 6.2% at sustained rates.
Regional map showing D3 Energy acreage position
Low-cost pathway to exploration rights
Each permit has been granted for one year and will initially involve low-cost desktop geological and geophysical studies.
D3 Energy expects to apply for full Exploration Rights over each area once that work is complete, potentially allowing the company to expand its existing contingent and prospective helium and methane resource inventory.
The company has previously followed the same pathway at ER386, progressing from a Technical Cooperation Permit to an Exploration Right, where a maiden contingent and prospective resource has since been independently certified.
Managing director and CEO David Casey said the new permits strengthened the company's position in the Free State helium province.
"These new permits, which are contiguous to our existing acreage, shore up and strengthen our already dominant acreage footprint."
He said the additions were consistent with D3 Energy's strategy of securing helium and natural gas acreage along proven structural zones.
Building critical gas portfolio
D3 Energy's core South African assets include ER315, PR016 and ER386 in the Free State Province, which contain certified reserves as well as contingent and prospective resources. D3E
The company has also expanded into Australia through the acquisition of helium and hydrogen permits in the Arckaringa Basin, broadening its critical-gases portfolio while maintaining its focus on advancing ER315 towards development.
