Royal Helium Ltd (TSX-V:RHC, OTCQB:RHCCF) announced that its Val Marie-1 helium exploration well in Saskatchewan has reached its total depth of 2,596 metres (m), with mass spectrometer and gas chromatography readings encountering what the company called “significant” helium shows with multiple intervals ranging from 5m to 10m.
The explorer and developer of helium properties said numerous zones will be completed and tested within the Devonian and the upper, middle and lower Cambrian Deadwood formations and the prospective intervals will be completed and tested along with the Ogema testing this fall.
“Val Marie-1 was drilled into the northern extension of the Bowdoin Dome, a large structural feature straddling Saskatchewan and Montana,” Royal Helium CEO Andrew Davidson said in a statement.
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“The Bowdoin Dome has been successfully drilled for helium in Montana, so we are pleased to find multiple intervals of elevated helium readings aligned with the three main formations where we have helium-bearing rocks at Climax and Ogema,” Davidson added.
Royal Helium also noted that it plans to test and advance the Val Marie and Ogema wells as it works on putting the Climax and Steveville wells into production.
Royal Helium engages in the exploration and development of helium properties in Canada. It controls over one million acres of prospective helium land in southwestern and south-east Saskatchewan close to existing oil and gas infrastructure and a significant portion of its land in close proximity to existing helium-producing locations.
Contact Sean at sean@proactiveinvestors.com