CALGARY, Alberta, Oct. 06, 2021 (GLOBE NEWSWIRE) -- Global Helium Corp. (CSE: HECO) (OTC: HECOF) (the “Company” or “Global”), a helium exploration and development company, is pleased to announce that the size of the Company’s Lawson Prospect has increased from 6,400 acres to 17,000 acres. This discovery was made after completing an extensive review of previously existing and recently acquired seismic data. Additionally, the Company has completed the geological integration of all seismic shot, purchased, and reprocessed in the Vermilion Hills area of southwest Saskatchewan.
Seismic is used to find structures, which are potential subsurface traps for helium. The Company initially acquired and processed legacy seismic data over the Vermilion Hills permits which confirmed several structures proven to exist in the area, based on extensive (and publicly available) drilling records from oil and gas exploration companies dating back to the 1940s. One such structure (the “Lawson Structure”), was drilled in 1944 by Imperial Oil (see news release dated March 18, 2021). Global reviewed all available well data, which showed the well was flow tested and recovered “non-combustible gas” and a high percentage of nitrogen, indicating the potential for helium.
Eight kilometers of new seismic data was shot over the structure and Amplitude Versus Offset (AVO) analysis indicates the potential for thick reservoir rock in the lower part of the Deadwood Formation, the Company’s primary drilling target. The AVO amplitude response is 9,600 acres in size with structural closure up to 17,000 acres in size.
Wes Siemens, President of Global stated, “We are very pleased with the quality of the seismic, processing and the AVO interpretation of this new data. By combining modern science with old, publicly available data, we believe the Lawson structure may be two to three times larger than we envisioned when we first acquired the permit.”
A second structure (the “Elbow Structure”) in the Vermilion Hills area was also drilled by Imperial Oil in 1945 and management’s analysis of the available data indicates a significant structure at the depth expected for trapping helium. Eight kilometers of new seismic was shot to the south of the Elbow Structure and confirmed the existence of a third structure that was originally speculated by Imperial Oil. The new seismic demonstrates the third structure (the “Gilroy Structure”) is approximately 4,800 acres in size. Like Lawson, AVO analysis indicates the reservoir potential is strong in Gilroy. Further, the Gilroy Structure may be larger in size to the south and southwest, which will require additional seismic in the future to confirm. The Company’s analysis also suggests there may be additional structures on this single permit.
Seismic was also purchased and reprocessed on an adjacent permit NW of Vermilion Hills. The new seismic identified two structures, both over 6,000 acres in size. Additional seismic will be required to bring these prospects to the drill stage.
Wes Siemens stated, “The new seismic and interpretation has better defined our prospects in Core Area One and we are immediately planning a significant seismic program to finalize drill prospects for early next year and are developing an evaluation plan for our significant acreage in Core Area Two near Regina and Core Area Three near the US border.”
Global is the sole owner of over 270,000 hectares (668,000 acres) of prospective helium permits in the heart of Saskatchewan’s helium runway, home to the majority of Canada’s helium reserves and production. Helium has been tested and produced here in concentrations of up to 2% since the 1960s. The original helium discoveries were made pre-1960 as early explorers for oil and natural gas in Saskatchewan found “inert, non-flammable or non-combustible gas” containing primarily helium and nitrogen.
The Company is aggressively increasing its land position in Saskatchewan and is actively looking for opportunities in other areas, aiming to become one of the largest and most prolific landholders and helium producers in North America.
ON BEHALF OF THE BOARD OF GLOBAL HELIUM CORPORATION
“Wes Siemens”
Wes Siemens, P.Eng.
President
For more information:
Global Helium Investor Relations
Tel: +1 877 816 8163
info@globalhelium.com
About Global Helium (CSE: HECO) (OTC: HECOF)
Global Helium is an exploration stage company focused on the exploration, acquisition, development, and production of helium to meet the needs of increasing helium demand and shrinking helium supply in North America and around the world. The Company has a seasoned team of industry professionals and technical experts and has established connections with North American and international helium buyers. Together, the team has captured 100%-owned permits encompassing over 650,000 acres prospective for helium in Saskatchewan’s well-established helium fairway.
Find out more at: https://globalhelium.com/.
Forward-Looking Statements
No securities regulatory authority has reviewed nor accepts responsibility for the adequacy or accuracy of the content of this news release.
This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this internal announcement are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include the failure to satisfy the conditions of the relevant securities exchange(s) and other risks detailed from time to time in the filings made by the Company with securities regulators. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this internal announcement are expressly qualified by this cautionary statement. The forward-looking statements contained in this internal announcement are made as of the date of this internal announcement and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.
