CALGARY, Alberta, Oct. 19, 2021 (GLOBE NEWSWIRE) -- Global Helium Corp.(CSE: HECO) (OTC: HECOF) (the “Company” or “Global”), a helium exploration and development company with significant landholdings in Saskatchewan’s “helium fairway,” is pleased to announce that it is commencing an extensive $500,000 seismic and remote sensing program, including aeromagnetic and gravity surveys across its three core areas in southern Saskatchewan.
The extensive geoscience studies are intended to provide a wealth of data to better define additional drilling targets on the Company’s large land-base in southern Saskatchewan’s “helium fairway.”
The Company intends to complete over 67 km (42 miles) of seismic lines in a 2021 winter program. Seismic data acquisition and analysis is a time-tested, mathematically intensive method of identifying and measuring sub-surface lithology. The goal of seismic investigation is to determine the presence of large, sub-surface structures that are ideal for trapping gas underground.
Global will be reprocessing existing - and acquiring - new Airborne Magnetometer (“Aeromag”) surveys, a technology commonly used in multiple resource extraction industries since the 1950’s. Aeromag surveys are used to map underground magnetic field variations to assist in the identification of subsurface lithology. Magnetic variations have a direction and a magnitude which allows interpretation of the geometry and depth of rock bodies that can host gas. Magnetism is also useful for mapping deep faults and the geologic features common to Saskatchewan’s helium fairway.
Gravity Surveys identify subsurface density contrasts and identify lithological differences. Mapping the distribution of gravitational field anomalies is another technique commonly used to improve the imaging of structures and formations that are critical to helium exploration.
Wes Siemens, President of Global stated, “We are excited to be undertaking a large assessment of our three core areas. The combination of multiple technologies will give us the best resolution and information upon which to make technical and operational decisions. This 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 1,000,000 acres (400,000 hectares) in Saskatchewan’s famed “helium fairway” (see press release dated October 12, 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.
With a current cash balance of over $9.5 million, Global Helium is aggressively increasing its land position and has consequently established three core areas in southern Saskatchewan. See figure 1.
Figure 1 accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8783d92a-5789-479a-8bcd-7da71e340986
Core Area One – Swift Current:
Core Area One encompasses over 700,000 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 “non-combustible gas” – indicating the potential for helium. Two additional features, the Elbow and Gilroy structures, were discovered earlier this year after analysis and interpretation of seismic studies (see press release dated October 6, 2021).
Core Area Two – Regina:
Core Area Two encompasses almost 140,000 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 recent announcements from other helium explorers who have identified – and are pursuing – five drilling targets in close proximity to the Company’s land. In addition, there are a number of adjacent wells that have tested helium concentrations ranging from 1.4% to 2.45%.
Core Area Three – Montana Border:
Core Area Three encompasses over 185,000 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.
The Company has dramatically increased its Saskatchewan landholdings in a very short period of time, at no cost to the Company. Saskatchewan’s costless, non-competitive permitting process is in its infancy, which has allowed the Company to stake over 1,000,000 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 1,000,000 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.
