SASKATOON, SASKATCHEWAN – (Cision – January 26, 2020) Royal Helium Ltd. (“Royal” or the “Company”) (TSXV: RHC) reports that the Climax-1 helium exploration well which spudded January 6th (see news release January 6, 2020) has been drilled to its target depth of 2,600m. Production casing has been run, cemented in place and the Savanna 419 drill has mobilized to the Climax 2 drill site. A service rig is being mobilized to site for completion and testing the zones of interest through casing which is anticipated to take 3-4 weeks.
The Climax-1 well was drilled into the Precambrian basement at the base of the Deadwood Formation. The Deadwood is a sand and shale sequence that is known to produce helium in Saskatchewan.
Andrew Davidson, President and CEO of Royal comments, “We are pleased that Savanna Drilling was able to successfully drill the first of three helium exploration wells to target depth and we look forward to seeing the flow tests and gas analyses of Climax-1 over the coming weeks. The drill rig is moving to our second target approximately 3 kilometers southeast from Climax-1 within the same large basement structural feature identified by seismic and aeromagnetic surveys within the Climax block”.
Qualified Person: Stephen P. Halabura P. Geo. the Company’s Vice President of Exploration is a Qualified Person (as such term is defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects) and has reviewed and approved the technical disclosure contained in this news release.
About Royal Helium Ltd.
Royal is focused on the exploration and development of primary helium production in southern Saskatchewan. With over 400,000 hectares of prospective helium lands held under permits, leases and applications, Royal is one of the largest helium leaseholders in North America. Located next to highways, roads, cities and importantly close to existing oil and gas infrastructure, Royal’s projects were methodically evaluated for helium potential for over two years, and have been vetted by helium experts, professional geologists and engineers.
For more information, please contact Andrew Davidson, the Chairman, President and CEO of the Company.
Andrew Davidson, CEO
Royal Helium Ltd.
1 (306) 653-2692
1 (306) 281-9104
Dean Nawata, VP Business Development
Royal Helium Ltd.
1 (604) 561-2821
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release includes certain statements that may be deemed to be “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the 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 materially from those in the forward-looking statements. The 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 or business conditions. Please see the public filings of the Company at www.sedar.com for further information.