Royal Helium finds more Saskatchewan helium targets
Royal Helium Ltd. [RHC-TSXV] announced that, after the successful completion of its oversubscribed private placement, it has resumed its helium drill target identification program in southeast Saskatchewan.
With an initial focus in southeast Saskatchewan on the Bengough area, Royal has re-processed 50.36 km2 of 3D seismic, which was acquired in 2017. The re-interpretation was completed to gain an understanding of regional basement structures and to identify potential drill targets. The 3D seismic shows a large regional feature with multiple closures. Five of these closures have been identified as initial drill targets and will be subject to further detailed investigation, including an airborne magnetometer survey.
Royal believes that the Bengough basement structure is part of a larger regional basement structural trend extending at least 60 miles north from the US border and passing through three of Royal’s Focus Areas. Along this trend, historic helium tests have ranged from 0.70% to 0.78% at Minton, 1.39% to 1.41% at Bengough, and 0.48% to 2.45% at Ogema/Ogema North.
“Royal’s southeast Saskatchewan lands, which comprise roughly 50% of the total land holding, all show robust helium occurrences. With the strategy of full-cycle inert gas capture, refining and liquefaction, it is crucial to develop a large number of de-risked drill targets throughout the company’s significant land package. The initial five targets identified at Bengough is an exciting first step in the southeast, growing the initial target inventory to 12 when combined with the seven targets on the Climax project in southwestern Saskatchewan. The effectiveness of Royal’s exploration methodology, which has been demonstrated at Climax, will increase the speed with which we can de-risk these target areas,” said Andrew Davidson, President and CEO.
Royal has over 400,000 acres of prospective helium land in southern Saskatchewan. All of Royal’s 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.