CALGARY, Alberta, June 14, 2022 (GLOBE NEWSWIRE) -- Global Helium Corp. (CSE: HECO) (OTC: HECOF) (the “Company” or “Global”), one of Canada’s largest helium exploration and development companies, is pleased to announce that the Company has successfully completed a vast data and seismic acquisition and interpretation program, primarily focused on its considerable helium land base, spanning 1,500,000 acres in Saskatchewan. As a result, multiple structures have been identified and/or enlarged and the Company is proceeding towards surface land acquisition and permitting on multiple drill locations across Saskatchewan and Montana.
Additionally, the Company has completed seismic acquisitions in the Rudyard and High Plains Drifter regions of Montana, relating to its recently announced acquisitions in those two areas (see news releases dated May 18, 2022, and June 8, 2022).
The original seismic acquisition program in Saskatchewan commenced in December 2021 (see news release dated January 18, 2022) and over multiple stages and after being upsized, culminated in 94 kilometers (58 miles) of freshly acquired and interpreted seismic. All data was interpreted by the core Global team. Multiple new structures have been identified across the Company’s expansive Saskatchewan land base. These new structures are in addition to the earlier discoveries (see news release dated February 1, 2022), which has substantiated Global’s decision to materially expand the original program.
As was the case with the Lawson discovery and further to the initial discovery at Gilroy (see news release dated October 6, 2021), the Company has determined that the originally identified Gilroy structure is closer to eleven square miles in size and appears to be a closed structure, ideal for trapping helium. This represents a 47% increase in the size of the Gilroy structure versus what was originally thought. As also noted on October 6, Amplitude Versus Offset (“AVO”) analysis at Gilroy still indicates strong potential for helium and common carrier gasses relating to helium reservoirs.
Jesse Griffith, President of Global stated, “Our expectations were significantly exceeded with what we learned from this massive data and seismic acquisition program. The team at Global has now identified multiple drilling locations across a very diversified asset base in Saskatchewan’s three core areas along with two drill-ready assets in Montana that have proven helium from previous drilling campaigns. We are now working on securing surface access and getting all locations permitted in preparation for a significant drilling program. It’s an incredibly exciting time to be on the team and a major shareholder at Global.
The Company will also be conducting an extensive soil gas and water well testing program beginning immediately across the three Saskatchewan core areas to assist in finalizing drilling locations. As always, this data will be used to update the Company’s geophysical and geochemical models.
Global Helium is expected to form part of the solution to the long-term supply shortage that has plagued the industry for decades. The helium that Global is pursuing is defined as “Green Helium;” that is, it is produced not as a by-product of natural gas production, but with carrier gasses such as nitrogen, which makes up 78% of the air that we breathe daily. Global Helium is one of the earliest movers to pursue helium in its purest form, as a standalone business, without requiring hydrocarbon production as the primary pursuit and product.
ON BEHALF OF THE BOARD OF GLOBAL HELIUM CORPORATION
For more information:
Walter Spagnuolo, Investor Relations
Tel: +1 (877) 816 8163
About Global Helium (CSE: HECO) (OTC: HECOF)
With a diversified portfolio of assets in Canada and the United States, Global Helium one of North America’s largest helium exploration and development companies. Global is focused on the exploration, acquisition, development, and production of helium to meet the needs of increasing helium demand and stressed 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 1.5 million acres prospective for helium in Saskatchewan’s well-established helium fairway and has recently acquired significant, helium-proven assets in the State of Montana.
Find out more at: https://globalhelium.com/.
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.