CR1.ASX: Methane and Helium Confirmed in Newly Awarded SPA

Methane and Helium Confirmed in Newly Awarded SPA

Stock	Constellation Resources Ltd (CR1.ASX)
Release Time	21 May 2026, 9:03 a.m.
Price Sensitive	Yes

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Constellation Resources Confirms Methane and Helium in New SPA

Key Points

Methane and Helium confirmed in drillhole WHRD021
High concentrations of up to 97% Methane and 0.24% Helium
Ongoing gas venting suggests potential connection to a reservoir
Historical drilling by AMOCO Minerals confirms presence of combustible gas
Ground activities planned for 2H 2026

Full Summary

Constellation Resources Ltd. has confirmed the presence of high concentrations of methane and helium in a shallow drillhole located within its newly awarded Special Purpose Area (SPA-0143). Analysis of drill core samples from WHRD021, which was drilled in 2012, revealed the highest readings of hydrogen, methane, helium, and ethane across the basin dataset. Surface gas analysis at the drillhole collar over an eight-month period confirmed the presence of up to 97% methane and 0.24% helium. Historical drilling by AMOCO Minerals in 1977 intersected significant volumes of combustible gas, leading to a surface ignition event. The company plans to commence ground activities targeting soil gas and drillhole collar surveys in the newly awarded SPA-0143 and the adjoining SPA-0119.