SASKATOON,
SK, July 18, 2022 /CNW/ - July 18, 2022. Royal Helium Ltd. ("Royal"
or the "Company") (TSXV: RHC) (TSXV: RHC.WT) (OTCQB: RHCCF) is
pleased to announce that it has begun drilling its first well in
the Val Marie field located in
southwestern Saskatchewan near the
Canada-US border. Val Marie-1 is located on the southernmost of
three large land blocks in the Val
Marie field which encompasses 13,000 hectares of the
Canadian portion of the Bowdoin Dome. Royal contracted Stampede
Drilling to drill the directional helium well located at
9-20-1-14W3 to a vertical depth of approximately 2,600 meters. The
Company anticipates drilling operations will take approximately 2
weeks to be followed by a service rig to complete and test the
well. Results will be announced as they are received.
Shayne Neigum,
Royal's Well Operations Manager comments, "Utilizing the newly
acquired proprietary 2D seismic and trade seismic, historical maps,
and offset wells in the area, the Royal exploration team is excited
to test one of several prominent structural features at
Val Marie which sits atop the
Bowdoin Dome. This large dome feature extends upward from northern
Montana into Saskatchewan and is believed to be the major
feeder system for inert gases found on both sides of the border.
More recently, helium specific wells have been successfully drilled
on the Montana side of the Bowdoin
Dome. Royal's targets at Val Marie
are several stacked zones in multiple horizons found within
Devonian and Cambrian strata".
Andrew Davidson,
President, and CEO, adds, "Following on our success and continued
development at Climax and
Ogema, we are pleased to extend
exploration to our third of 12 separate fields. The highly
sought-after Val Marie ground was
one of the first target areas we acquired and added to since 2016.
Not only is the Bowdoin Dome known to host helium, but its
proximity to the Climax project
also makes this a highly prospective target field".
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 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.