News Summary: Operational Progress and Exploratory Expansion Royal Helium Ltd. (Ticker: RHC.v or RHCCF for US investors), a Canadian helium production, infrastructure, and exploration company, has made significant strides in its helium plant operations and helium exploration.
With an extensive footprint encompassing prospective helium permits and leases across southern Saskatchewan and southeastern Alberta, RHC is strategically positioned to become a leading North American producer of this crucial, non-renewable commodity.
The company's operations are especially notable for their low greenhouse gas (GHG) footprint, as helium extraction in these regions is primarily carried with nitrogen, which is not considered a GHG. This results in a helium extraction process that is up to 90% less carbon-intensive than those relying on large-scale natural gas production.
In recent developments, RHC has made substantial progress at its Steveville helium purification facility near Brooks, Alberta. As of May 31, 2024, the company successfully shipped its 10th and 11th purified helium trailers from this facility. The Steveville plant continues to ramp up its capacity, experiencing growth in throughput rate and consistency in run-time. The production zones of the reservoir have been performing as projected, with helium concentrations meeting or exceeding expectations.
Over the past three weeks, stable production has been achieved at 50% of the plant's nameplate capacity, with periodic increases up to 75%. This stable production equates to approximately four trailers of purified helium per month, representing a 100% increase from prior levels. Once the plant operates at full capacity, it is expected to produce between seven and eight trailers of purified helium monthly.
Additionally, RHC has embarked on a new venture with the licensing and permitting of the Forty Mile #1 exploratory helium well at the Forty Mile project in southeastern Alberta. This project, covering 7,000 acres and acquired under a seismic review option agreement with an independent private vendor, includes one historic well that has shown promising results.
The original show well's results rival the best Cambrian helium discovery wells in Alberta, Saskatchewan, and Montana. The company has completed seismic work and identified multiple drill targets across various prospective horizons, with the target horizons for Forty Mile #1 being Devonian and Cambrian, drilled into the Precambrian crystalline basement.
The Forty Mile #1 well will target multiple zones, and upon success, the company plans to fully develop the Forty Mile project with the defined drill targets.
RHC continues to forge ahead in the helium production industry, leveraging its strategic locations, advanced facilities, and robust exploration projects to meet the growing global demand for this invaluable resource.
Full press releases:
https://royalheliumltd.com/2024/05/royal-helium-provides-update-on-operations-at-steveville-helium-facility/
https://royalheliumltd.com/2024/05/royal-helium-licensing-high-impact-helium-well-at-forty-mile-southern-alberta/
Posted on behalf of Royal Helium Ltd.