SASKATOON, SK, Dec. 9, 2021 /CNW/ – Royal Helium Ltd. (“Royal” or the “Company”) (TSXV: RHC) is pleased to report that Ogema-2 has reached its total depth, showing elevated helium cuts encountered during the drilling process, which were on par with helium readings during the drilling of Ogema-1. Elevated helium was recorded in two separate zones, including what appears to be the extension of the Nazare zone identified 250 km away at Climax. Drill-stem testing of these two zones has commenced, and helium test results will be released once received from the lab.
Shayne Neigum, Manager of Operations for Royal comments, “The drilling that we have completed at Ogema has been a tremendous success. While the goal of this program was clearly the same as the previous programs at Climax, different geological challenges were expected at Ogema. I am pleased to report that our advance planning was 100% successful in anticipating these requirements, resulting in these wells being drilled faster and more efficiently than our initial Climax wells.
Andrew Davidson, President and CEO of Royal states “We have now identified elevated helium concentrations on both wells at Ogema. While we await the assay results from Agat Laboratories to confirm, we are confident that we have discovered a new helium field, southeast Saskatchewan’s first. Given our proximity to the major oil and gas hubs of Weyburn and Estevan, this will be another ideal location for helium development, and we look forward to publishing the results of our drill-stem testing program, once completed.”
About Royal Helium Ltd.
Royal controls over 1,000,000 acres of prospective helium land in southwestern and south-east Saskatchewan. All of Royals’ lands are in close vicinity to highways, roads, cities and importantly, close to existing oil and gas infrastructure, with a significant portion of its land near existing helium producing locations. With stable, rising prices and limited, non-renewable sources for helium worldwide, Royal intends to become a leading North American producer of this high value commodity.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release includes certain statements that may be deemed to be “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
SOURCE Royal Helium Ltd.
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