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CALGARY, Alberta, Nov. 16, 2021 (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 several recent acquisitions now expand the Company’s 100%-owned acreage to beyond 1.2 million acres in southern Saskatchewan.
The additional acreage augments all three of the Company’s core areas in Saskatchewan.
Post-acquisition, Global Helium retains over $9.5 million in cash on its balance sheet and is the second largest land holder of helium rights in Canada. Global enjoys 100% ownership combined with royalties of less than 5% resulting in greater than 95% Net Revenue Interest.
“We continue to advance our strategic priorities which include: (1) expanding our Saskatchewan land holdings, (2) evaluating our land base to advance several prospects to the drill stage, and (3) identification of other prospects across North America. We are very pleased with our progress in all of these areas,” states Wes Siemens, Global’s President.
The Company’s current landholdings are in Saskatchewan’s famed “helium fairway,” home to most of Canada’s helium reserves and production. The regions helium reserves have 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 an abundance of “inert, non-flammable or non-combustible gas” containing primarily helium and nitrogen.
Helium and nitrogen are both inert, non-combustible gases, often discovered by mistake by oil and gas exploration companies hoping to make large-scale natural gas field discoveries.
Global has increased its total land holdings in Saskatchewan to 489,789 ha (1,210,296 acres) and is still actively engaged in adding prospective acreage monthly. The Company’s current three Canadian core areas provide significant helium prospectivity over a variety of targets and risk profiles.
Core Area One – Swift Current:
Core Area One encompasses almost 760,000 acres and is northeast of the city 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 known as 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 test well recovered “non-combustible gas,” a typical regional indicator for helium potential. Two additional features known as 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 over 215,000 acres and is in south-central Saskatchewan, approximately 150 km south of Regina, the provincial capital city where there are multiple stratigraphic formations and helium targets. Global’s land flanks that of other helium explorers who have recently announced their intent to pursue five drilling targets in close proximity to the Company’s land. In addition, there are several adjacent wells that have tested helium concentrations ranging from 1.4% to 2.45%.
Core Area Three – Montana Border:
Core Area Three encompasses over 235,000 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 very close to the Canadian border.
Global Helium is progressing its large scale seismic program, airborne magnetometer (“Aeromag”) survey reprocessing, gravity survey and surface geochemical studies (see press release dated October 19, 2021). The extensive geoscience studies will provide a wealth of data to better define additional drilling targets on the Company’s large land base in southern Saskatchewan’s “helium fairway.”
Siemens adds, “I look forward to providing updates on our extensive geoscience program over the coming weeks and months. We are excited to be undertaking such 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. Our program is expected to produce several drill-ready prospects and advance a number of other prospects closer to drill-ready stages.”
ON BEHALF OF THE BOARD OF GLOBAL HELIUM CORPORATION
Wes Siemens, P.Eng.
For more information:
Walter Spagnuolo, Investor Relations
Tel: +1 (877) 816 8163
About Global Helium (CSE: HECO) (OTC: HECOF)
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 1.2 million acres prospective for helium in Saskatchewan’s well-established helium fairway.
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.