The First Helium team is making “significant progress” om evaluating the exploration company’s approximately 880,000 acres of prospective helium lands in Southern Alberta.
Providing an update on Thursday (28th Oct), First Helium said the acreage is currently under a seismic review and option agreement with a large landholder in the region.
It is believed that, in the fourth quarter (2021), all land with significant 2D and 3D seismic data coverage will be continued under the terms of an option agreement for further evaluation.
First Helium management expects any identified drilling locations to be ready for drilling in the first half of 2022. To date, over 125,000 acres of land have been prioritised.
Ed Bereznicki, President and CEO of First Helium stated, “Ready access to an extensive library of seismic data has significantly reduced the costs and time normally associated with evaluating such a large block of prospective land, cutting the cycle from years to months.”
“With proven helium production in close proximity to the select lands, and access to the existing seismic coverage, First Helium sees this project as an excellent opportunity to establish a second core area for its ongoing helium exploration and development program at an attractive cost to the company. ”