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.