SASKATOON, SK, July 30, 2020 /CNW/ – Royal Helium Ltd., (“Royal” or the “Company“) (TSXV: RHC) reports that is has received the final analysis from the triaxial magnetic survey conducted over its Climax helium permit lands located in south western Saskatchewan. The program successfully produced datasets and images that refine drill targets over the large structural features delineated in the 2019 seismic survey. This is the first of several closure targets at Climax that will be subject to a multi-well exploration drilling and development program. The Company is now working towards a detailed drill plan and funding for its maiden drill program which will be announced once finalized.
Steve Halabura P.Geo., VP Exploration for Royal states, “The datasets and images produced from the magnetic survey allow for a deeper understanding of the structural controls of the crystalline basement, which is the “source rock” for the helium enrichment, and the overlying stratigraphy, where the helium could be trapped and accumulated. This data has tremendous value in confirming drill targets into our identified structures.”
Terrestrial helium originates from the natural decay of uranium and thorium. In this particular region of Saskatchewan, Canada, this occurs within the Precambrian basement rock with the overlying stratigraphic target formations regionally known as the Deadwood sand formation and the Basal Aquifer Unit. The first target closure at Climax now shows over 31 km2 of structural closure in excess of 22 meters in thickness.
Andrew Davidson, President and CEO of Royal comments, “This program successfully firms up our first set of drill targets into the helium play at Climax and we look forward to the first drill program this fall. We plan to continue and repeat the geophysical work and drill programs over several regional targets we have in inventory.”
The Climax lands consist of 4 Crown helium permits encompassing an area of 58,857.75 hectares or 588.58 km2. The airborne survey encompassed 734.92 line-kms, including 183.82 km2 hectares of land coinciding with the earlier trade 2D seismic survey completed in 2019. In total, Royal Helium currently has approximately 4,000 km2 of helium lease and permit land.
Qualified Person: Stephen P. Halabura P. Geo. the Company’s Vice President of Exploration is a Qualified Person (as such term is defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects) and has reviewed and approved the technical disclosure contained in this news release.
Royal Helium Ltd.
Royal Helium has approximately 400,000 hectares of prospective helium land in south western and south-central Saskatchewan, held as permits, leases and pending permits. All of Royal’s lands are in close proximity to highways, roads, cities and importantly, close to existing oil and gas infrastructure, with a significant portion of its land in close proximity to 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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