Royal Helium Acquires Additional Helium Permits at Climax Property
SASKATOON, Saskatchewan, Nov. 14, 2019 (GLOBE NEWSWIRE) — Royal Helium Ltd. (“Royal” or the “Company”) (TSXV: RHC) announces that it has been granted by the Government of Saskatchewan, an undivided, 100% crown interest in a new helium permit covering 17,676 hectares adjacent to and immediately west of the Company’s Climax property. The Company plans to proceed with a geotechnical and seismic program over “Climax West”, land extended with the newly acquired helium permit. The program will be conducted in the same manner as Climax East with the goal of identifying other structural traps within the same known zone and to increase Royal’s drill target inventory. Program details will be announced once finalized.
Royal recently completed its first phase of exploration on the Climax East property isolating an approximate 3,094-hectare basement structure with 4-way closure. 7 drill targets have been selected within this basement structure known to be prospective for primary helium production (see news release September 4, 2019).With well logs down to the Precambrian basement of past and current producing primary helium wells already in hand, Royal intends to contract RPS Group of Calgary (“RPS”) to reprocess and evaluate the data in the same way as was conducted at Climax East. Reprocessing of the data is used to identify the deeper, basement-rooted structures that are known to be prospective for helium and delineating 4-way structural closures – the structures necessary to trap and contain the helium that was formed further below.Helium is created by the natural decay of radioactive elements such as uranium and thorium, deep beneath the earth’s surface. Saskatchewan is endowed with some of the world’s highest concentrations of uranium and therefore one of the few places on the earth that produces primary helium (most of the world’s helium is produced as a by-product of natural gas production in lower grade quantities).Further, Royal Helium intends to continue the same program over several other helium properties the Company has in southwestern Saskatchewan including – the Climax Properties and Swift Current, Cadillac and Val Marie properties. Initial geological and seismic data review show that these areas are also highly prospective for similar basement formations and structural traps for helium. Royal aims at building up its drill inventory to over 25 well targets over these several projects within the next few months.Royal Helium continues to be in discussions with several of the major industrial gas companies looking to select and secure a helium processing partner for our initial development. The early stage discussions indicate a high level of interest from several gas companies in securing a partnership on mutually, economically favourable terms.Royal Helium Ltd.Royal now has over 400,000 acres of prospective helium land in south western and south-central 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 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.For more information, please contact Andrew Davidson, the Chairman, President and CEO of the Company.Andrew Davidson, CEO
Royal Helium Ltd.
1 (306) 653-2692
[email protected]CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATIONNeither 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.