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CALGARY, Alberta, Feb. 22, 2022 (GLOBE NEWSWIRE) -- Global Helium Corp. (CSE: HECO) (OTC: HECOF) (the “Company” or “Global”), one of North America’s largest helium exploration and development companies, is pleased to announce that the Company has re-commenced the shooting of 2D seismic in Saskatchewan and the program is now well under way in order to complete the expanded 94 km (58 mile) winter seismic program (see February 1, 2022 news release).
The Company is conducting a significant winter seismic program on its lands in southern Saskatchewan’s “helium fairway,” where the Company controls over 1.5 million acres of 100%-owned land and is one of the largest helium-focused landholders in North America. The purpose of the seismic study, in addition to the acquisition and evaluation of other geoscience data, is to create a portfolio of high-impact drilling locations across the Company’s landholdings.
Global has purchased or shot a total of 188 km (117 miles) of 2D seismic to date and still has 30 km (19 miles) remaining to be shot and processed across the Company’s three core areas to complete this program.
The Company has also employed Amplitude Versus Offset (AVO) processing technologies to the seismic data, which provides more detail on specific reservoir characteristics, versus simply identifying structure and stratigraphic layers, as seismic does at its most basic level.
Wes Siemens, Global’s President, commented, “The increased size of the program is a testament to the results achieved so far. We continue to identify high-impact prospects on our lands. The AVO processing has identified the potential for thick, high quality sands over several prospects. Our most recent seismic line is following up on a potential structure over 13 square miles in size, located to the southeast of our Lawson prospect.”
The Company’s total landholdings across its three core areas in Saskatchewan total 621,261 ha (1,535,168 acres) and Global is still actively adding acreage.
Core Area One – Central Saskatchewan:
Core Area One encompasses over 835,000 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 is known as the Lawson Structure (see October 6, 2021 news release) which 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.
Core Area Two – Southeast Saskatchewan:
Core Area Two encompasses 425,000 acres and is in south-central and southeast 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 test several drilling targets in close proximity to the Company’s land.
Core Area Three – Southwest Saskatchewan:
Core Area Three encompasses 275,000 acres and is in southwest Saskatchewan 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. High percentage helium tests have also been recorded in Montana where significant industry activity is underway very close to the Canadian border.
Helium and nitrogen are both zero carbon, inert, non-combustible gases.
A helium discovery of 2% or more is considered exceptional in North America and compares very favorably to helium that is typically produced concurrently with hydrocarbons, as is the case in Russia and the Middle East, where helium is typically 0.1% of the production stream. When produced in Saskatchewan, helium can be found in substantially higher concentrations (10x to 20x) and is typically produced without hydrocarbons, making it a highly concentrated, green, zero carbon product.
Siemens added, “We are very excited about the potential of this seismic program. The seismic lines being shot in Core Area 2 are in proximity to wells that have tested helium in concentrations ranging from 1.4% to 2.45%. We are also shooting seismic significantly northward, targeting a large, shallow prospect north of Saskatoon. This area is exciting as under the right conditions, shallower reservoirs can contain even higher percentages of helium. Once the seismic program is completed in March, we will be integrated all of the data to finalize a multi-well drilling program slated for this summer.”
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 1.5 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.