Initial results encouraging with significant
helium shows from multiple zones
SASKATOON, SK, Aug. 16,
2022 /CNW/ - Royal Helium Ltd. ("Royal" or the
"Company") (TSXV: RHC) (TSXV: RHC.WT) (OTCQB: RHCCF) is pleased to
report that its Val Marie-1 helium
exploration well has reached its total depth of 2,596 metres. Mass
spectrometer and gas chromatography readings encountered
significant helium shows with multiple intervals ranging from 5 to
10 meters. Numerous zones will be completed and tested within the
Devonian and the upper, middle and lower Cambrian Deadwood
formations. The prospective intervals will be completed and tested
along with the Ogema testing this
fall. Royal looks forward to providing further updates and results
as completions and testing are concluded.
Andrew Davidson, President and
CEO of Royal, commented, "Val
Marie-1 was drilled into the northern extension of the
Bowdoin Dome, a large structural feature straddling Saskatchewan and Montana. The Bowdoin Dome has been
successfully drilled for helium in Montana, so we are pleased to find multiple
intervals of elevated helium readings aligned with the three main
formations where we have helium bearing rocks at Climax and Ogema. While we work on putting the
Climax and Steveville wells on
production, we look forward to testing and advancing Val Marie and Ogema."
Shayne Neigum, Manager of Well
Operations, added, "We are pleased to find that the
Devonian horizons showed significant increases from background
levels with the mass spectrometer, as well as our well logs,
indicating analogous gas bearing strata with very similar
petrophysics to North American Helium's producing wells. This
is in line with our expectations that the Bowdoin Dome is a
major source and gas migration driver for the helium produced in
Saskatchewan. We look forward to
completing and flow testing these stacked shows within the Devonian
and Cambrian horizons."
"Drilling this helium exploration well has qualified two
helium permits at Val Marie to now
be converted to 21-year leases for Royal. Whilst the objectives of
this drilling program were aligned with the goals of the previous
programs at Climax and
Ogema, the use of directional
drilling to explore both permits with one wellbore was
unprecedented and a first within the industry."
Royal Helium Ltd.
Royal controls over 1,000,000 acres of prospective helium land
in southern Saskatchewan and
southern Alberta. 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.
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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
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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
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Company at www.sedar.com for further information.
SOURCE Royal Helium Ltd.