Display omitted •The recently-suggested helical mirror confinement concept is discussed.•Active suppression of axial particle and energy losses.•Parameter space for the first experiment is discussed.•Details of magnetic system of the SMOLA project are presented. A novel concept of helical mirror confinement with active axial and radial plasma flow control is discussed. The idea relies on the retarding force that appears when biased plasma experiences rotation in crossed electrical and helical mirror magnetic fields. Preparations for its experimental study started in Budker Institute of Nuclear Physics, Novosibirsk. Possible parameter space for a concept-exploration-class device SMOLA is identified. Details of numerical optimization of the magnetic structure of the device are presented. The main physical task for the SMOLA experiment will be direct demonstration of the helical mirror performance in simple experimental conditions at reasonably low plasma parameters.