CALGARY, Alberta, Sept. 07, 2021 (GLOBE NEWSWIRE) -- Global Helium Corp. (CSE: HECO) (the “Company” or “Global”), a North American helium exploration and development company with significant landholdings in Saskatchewan’s “helium fairway”, is pleased to announce it has acquired additional land and, in the process, established a third core area in southern Saskatchewan. The new acreage, when combined with the Company’s current land position, increases Global’s land holdings to over 668,000 acres in Saskatchewan.
“This additional acreage represents a 50% increase to our previous land position. This latest acquisition has made Global Helium one of the top acreage holders in the heart of Saskatchewan’s helium exploration fairway,” stated Wes Siemens, Global’s President.
The Company’s holdings are in Saskatchewan’s famed “helium fairway”, home to the majority of Canada’s helium reserves and production where helium has been tested and produced in concentrations of over 2% since the 1960’s. 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.
Global’s latest land acquisition has increased Core Area One to 152,944 ha (377,931 acres). Core Area One is approximately 150 kilometers 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 structure on Global’s land, the Lawson Structure, shows four-way closure over 6,400 acres and is a potential structural trap for helium. This feature was drilled in 1944 by Imperial Oil and review of the available well data showed the well recovered “non-combustible gas”. A second structure, the Elbow Structure, was also drilled by Imperial Oil in 1945 and management’s analysis indicates a significant structure at depth. There is also a potential third structure that Global expects to better define with seismic and additional drilling in the future (see news release dated March 18, 2021). Global is in the process of integrating the data from seismic acquired in Q1 2021 and new seismic purchased in Q2 2021 into the geologic model to advance these prospects to the drill stage.
The Company also increased its acreage in Core Area Two in south-central Saskatchewan, approximately 150 km southwest of Regina. The additional land increases the land position in Core Area Two to 55,835 ha (137,972 acres). The acreage is highly prospective for helium where there are multiple formations and targets from the Mississippian to the Cambrian. The new land permits flank recent announcements from industry where 5 drilling targets have been identified. In addition, there are a number of adjacent wells that have tested helium ranging from 1.4% to 2.45%.
Additionally, Global has established Core Area Three along the Montana/Saskatchewan border, comprising 61,640 ha (152,316 acres). This attractive acreage sits in the middle of two recent competitive helium discoveries at Eastbrook and Climax, Saskatchewan. In addition, high percentage helium tests have been recorded in Montana where significant industry activity is also underway.
Combined, Global has increased its total land holdings in Saskatchewan to 270,419 ha (668,219 acres). The three core areas provide significant helium prospectivity over a variety of targets. Global is currently planning a seismic program for the coming winter to confirm a multi-well drilling program to commence in 2022 or earlier.
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 650,000 acres prospective for helium in Saskatchewan’s well-established helium fairway.
Find out more at: https://globalhelium.com/.