CALGARY, Alberta, Jan. 18, 2022 (GLOBE NEWSWIRE) -- Global Helium Corp. (CSE: HECO) (OTC: HECOF) (the “Company” or “Global”), a helium exploration and development company with over 1.2 million acres of landholdings in Saskatchewan’s “helium fairway,” is pleased to announce that it has commenced shooting of 50 km (31 miles) of seismic over several of its existing permits in southern Saskatchewan.
These new seismic lines are being acquired based on existing permits in-hand, and an additional 20 to 50 km of seismic will be acquired in the coming weeks, when further permits are received.
Seismic data acquisition and analysis is a time-tested, mathematically intensive method of identifying and measuring sub-surface lithology for the Company’s geological team to define subsurface structural traps (“Structures”). Once Structures are geophysically identified, the data can be further refined to identify specific drilling targets on the Company’s landholdings on those Structures.
The Company intends to utilize the data from this seismic acquisition program to generate drilling targets and to commence drilling in 2022.
Wes Siemens, President of Global stated, “We are excited to be undertaking a large assessment of our three core areas. This initial seismic will help to expand our drill locations to confirm prospects in Core Area 1, near Swift Current. Later this winter the seismic program will continue and will include Core Area 2, south of Regina, and Core Area 3, near the US border. This entire program is expected to produce several drill-ready prospects and advance a number of other prospects closer to drill-ready stages.”
Since March, the Company has accumulated a 100% working interest in over 1,200,000 acres (400,000 hectares) in Saskatchewan’s famed “helium fairway” (see press release dated November 16, 2021), home to the majority of Canada’s productive helium reserves, which have been produced and tested in concentrations of over 2% since the 1960’s. The Company has continued accumulating land and is now one of North America’s largest helium-specific landholders.
With a current cash balance of over $9.5 million, Global Helium is aggressively increasing its land position and expects to close significant additional acquisitions in the future.
Core Area One – Swift Current:
Core Area One encompasses over 760,000 acres and is northeast of Swift Current, home to Saskatchewan’s original helium production facility. Large geological Structures have been long known to exist in the area and were proposed for helium exploration in 1960. One such formation on Global’s land, the Lawson Structure, shows four-way closure over 17,000 acres and is a potential structural trap for helium. This feature was drilled in 1944 by Imperial Oil and review of the available data shows the well recovered large percentages of nitrogen and “non-combustible gas” – indicating the potential for helium, without the necessity to produce hydrocarbons. The Company recently discovered two additional Structures, after analysis and interpretation of previous seismic studies (see press release dated October 6, 2021).
Core Area Two – Regina:
Core Area Two encompasses over 215,000 acres and is in south-central Saskatchewan, approximately 150 km south of Regina, where there are multiple stratigraphic formations and helium targets. Global’s land flanks that of other helium explorers who have previously announced their intentions to pursue several drilling targets adjacent to the Company’s land. In addition, there are several adjacent wells that have tested helium concentrations ranging from 1.4% to 2.45%.
Core Area Three – Montana Border:
Core Area Three encompasses over 235,000 acres and is on the Canadian side of the Montana/Saskatchewan border. This attractive acreage sits in the middle of two recent helium discoveries at Eastbrook and Climax, Saskatchewan. High percentage helium tests have been recorded in Montana where significant industry activity is also underway, very close to the Canadian border – and the Company’s significant landholdings.
The Company has dramatically increased its Saskatchewan landholdings in a very short period of time, at very low cost. Saskatchewan’s essentially costless, non-competitive permitting process is in its infancy, which has allowed the Company to stake over 1,200,000 acres of potential helium-bearing lands without upfront capital expenditures. The Company is continuing to expand its landholdings in Saskatchewan’s helium runway.
ON BEHALF OF THE BOARD OF GLOBAL HELIUM CORPORATION
“Wes Siemens”
Wes Siemens, P.Eng.
President
For more information:
Walter Spagnuolo, Investor Relations
Tel: +1 877 816 8163
relations@globalhelium.com
About Global Helium
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 1,200,000 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.
