Royal Helium Ltd (TSX-V:RHC, OTCQB:RHCCF) has announced that it has initiated its 2023 exploration program in southwest Saskatchewan by flying approximately 5,960 line-kilometers of proprietary high-resolution aeromagnetic (HRAM) data over its Cadillac and Swift Current helium properties in southwestern Saskatchewan.
"With construction of our first purification facility well underway at Steveville, we are pleased to begin this year's exploration programs on our helium permit land at Cadillac and Swift Current,” Royal president and CEO Andrew Davidson said in a statement.
“The same HRAM program being utilized was a critical factor in the drilling successes at Climax, Val Marie, and Ogema. As an aggressive growth E&P company, we view exploration capex as a critical growth driver for the company and its shareholders,” he added.
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The helium project developer noted that the Cadillac survey will cover approximately 4,800 line-kilometers and is designed to refine the basement structural architecture and identify drill targets correlating with historical seismic anomalies, known economic helium shows and current helium-producing pools. The Cadillac survey is an extension of the previously acquired HRAM survey flown over Climax in 2019 and is aimed at expanding the known helium fairway approximately 75 km north to Cadillac.
It said the Swift Current HRAM survey will be approximately 1,160 line-kilometers in an area that has current helium production, and several historically mapped, deep-seated basement structures around the Wilhelm helium pool extending onto Royal's property.
"Royal's drilling successes to date can be attributed to our high-grade drill targets developed by correlating historic seismic, well data and mapping with deep, geophysics like this HRAM survey followed by detailed, targeted seismic surveys,” Royal chief operating officer Shayne Neigum said. “We look forward to extending our helium fairway from Climax through to Cadillac and further north around the Wilhelm helium pool.
"The survey is designed to further define known anomalies, deep subsurface structures, potential closures and ultimately drill targets," Neigum added. "Both Cadillac and Swift Current fields have current and past producing helium wells in close proximity to Royal's helium permit land blocks."
The company said its exploration programs for the year include target reconnaissance, exploration, and drilling on all three main permit areas, southwestern Saskatchewan, southeastern Saskatchewan and Alberta. Details of each program will be announced as they are finalized, it added.
Saskatoon, Saskatchewan-based Royal Helium controls over one million acres of prospective helium land across southern Saskatchewan and southeastern Alberta. All of Royal's 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 near existing helium-producing locations. The firm intends to become a leading North American producer of the high-value commodity.
Contact the author at stephen.gunnion@proactiveinvestors.com