- Oops!Something went wrong.Please try again later.
SASKATOON, SK, June 14, 2022 /CNW/ - Royal Helium Ltd. ("Royal" or the "Company") (TSXV: RHC) (TSXV: RHC.WT) (OTCQB: RHCCF) is pleased to announce that it has received the final results on its seismic program at Val Marie. The program, which consisted of 35 kilometers of both newly acquired and purchased trade data has identified a series of large structural features, from which Royal has selected its initial drill target as well as five additional high priority targets. The initial well at Val Marie has been permitted and is scheduled to spud on July 10, 2022.
Stephen Halabura, Royal's VP Exploration states, "The initial seismic program at Val Marie went exactly as planned. The data recovered from the new seismic shoot was of exceptionally high quality and the interpretation of this data by our partners at RPS Energy Services, along with the integration of the existing trade data that we acquired, clearly demonstrates the highly prospective nature of the Val Marie project area."
The Val Marie project is located in Southwest Saskatchewan and consists of claims totalling 13,000 hectares. The project lies in the heart of the Bowdoin Dome feature which has hosted both historic and current helium production.
Appointment of Mr. Martin Wood to Board of Directors
Royal is also pleased to announce the addition of Mr. Martin Wood to the Company's board of directors. Mr. Wood is a resource industry professional, serving as the Chairman of Altona Rare Earths Limited and the former Chief Executive Officer of Kogi Iron Limited, Mr. Wood is also the founder and Managing Director of Vicarage Capital Limited, which is a Financial Conduct Authority registered, full-service brokerage house in the United Kingdom. Prior to this, Mr. Wood worked in resource finance for NM Rothschild & Sons Limited, Standard Bank (London) Limited, London and Benfield Advisory, providing services to resource companies. To make room for the addition of Mr. Wood to the Company's board of directors, Mr. Tom MacNeill will step down. The board of directors would like to thank Mr. MacNeill for his years of service to the Company.
Andrew Davidson, President, and CEO, adds, "The addition of Martin Wood to the board of directors strengthens our growing global presence. With deep professional experience in the resource industry and the capital markets in the United Kingdom, Martin's representation on the board of directors is welcome as our exposure outside of Canada and the United States grows and our projects continue to move forward."
About Royal Helium Ltd.
Royal controls over 1,000,000 acres of prospective helium land in southwestern and south-east Saskatchewan. All of Royals' lands are in close vicinity to highways, roads, cities and importantly, close to existing oil and gas infrastructure, with a significant portion of its land in close proximity to existing helium producing locations. With stable, rising prices and limited, non-renewable sources for helium worldwide, Royal intends to become a leading North American producer of this high value commodity.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release includes certain statements that may be deemed to be forward-looking statements or forward-looking information under applicable Canadian securities legislation (together, the "forward-looking statements") that may not be based on historical fact, including without limitation, statements containing the words "believe", "may", "plan", "will", "estimate", "continue", "anticipate", "intend", "expect", "potential" and similar expressions. Forward-looking statements are necessarily based on estimates and assumptions made by management of the Company in light of our experience and perception of historical trends, current conditions and expected future developments, as well as the factors we believe are appropriate.
All statements in this news release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Forward-looking statements include but are not limited to statements relating to: the spudding of the initial well at Val Marie, the prospective nature of the Val Marie area and the commencement of drilling at Val Marie.
Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
SOURCE Royal Helium Ltd.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2022/14/c7706.html