SASKATOON, SK, May 9, 2024
/CNW/ - Royal Helium Ltd. (TSXV: RHC) (TSXV: RHC.WT.A) (OTCQB:
RHCCF) ("Royal" or the "Company") is pleased to
announce that it has begun licensing and permitting for the Forty
Mile #1 exploratory helium well at the Forty Mile project in
southeastern Alberta. Acquired
under a seismic review option agreement with an independent private
vendor, the Forty Mile project is comprised of 7,000 acres and
hosts one historic well that was drilled and tested in various
horizons. The results of the original show well, rival the best
Cambrian helium discovery wells to date in Alberta, Saskatchewan, and Montana. Royal has completed seismic work and
has multiple defined drill targets across multiple prospective
horizons. The target horizons for Forty Mile #1 will be Devonian
and Cambrian and will be drilled into the Precambrian crystalline
basement. Spud date will be announced once licensing is complete,
and a drilling rig is secured under contract.
Shayne Neigum, COO, comments,
"The Forty Mile #1 high impact exploration well is an exciting step
for Royal. With its proximity to the successful wells at Steveville
and Royal's first purification plant currently ramping up, the
Forty Mile project boasts a historic show well that flowed with
similar pressure and near 2.5 times the helium concentration. Forty
Mile #1 will be targeting multiple zones and predicated on success,
we look to fully develop Forty Mile with multiple drill targets
already defined."
About Royal Helium Ltd.
Royal is an exploration, production, and infrastructure company
with a primary focus on the development and production of helium
and associated gases. The Company controls over 1,000,000
acres of prospective helium permits and leases across southern
Saskatchewan and southeastern
Alberta. Given the current and
foreseeable global undersupplied nature of this critical and
non-renewable product, Royal is well positioned to be a leading
North American producer of this increasingly high value
commodity.
Royal's helium reservoirs are carried primarily with nitrogen.
Nitrogen is not considered a greenhouse gas (GHG) and therefore the
plant has a low GHG footprint when compared to plants in other
jurisdictions that rely on large scale natural gas production for
helium extraction. Helium extracted from wells in Saskatchewan and Alberta can be up to 90% less carbon intensive
than helium extraction processes in other jurisdictions.
Andrew Davidson
Chief Executive Officer
Royal Helium Ltd.
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accuracy of this release.
SOURCE Royal Helium Ltd.
