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American Helium Provides Shareholder Update
American Helium Provides Shareholder Update Canada NewsWire VANCOUVER, July 19, ...
About this update from Auscan Resources Inc.
[{"type":"text","content":"\n\n\n\nAmerican Helium Provides Shareholder Update\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, July 19, 2018\n\n\n\n\n\n\n\nVANCOUVER, July 19, 2018 /CNW/ - American Helium Inc. (the \"Company\" or \"American Helium\") (TSX.V: AHE) (OTC: AHELF) (XFRA: 43UB), a resource exploration company focused on the global growth of technology-driven demand for helium. \n\n\n \n \n\n \nThe Company was formed in 2017 around the Bruin Point acreage in Carbon County, Utah. The new corporate activity immediately attracted a number of other opportunities and the Company executed agreements with Yankee Resources and Holbrook Basin Energy LLC (HBE), relating to projects in Eastern Colorado and the Holbrook Basin, Arizona respectively.\n\nIn December/January the Company acquired additional seismic on the Bruin Point acreage and was able to upgrade the resource potential of the project. The further work also highlighted the risks associated with the drilling and possible development of the single prospect that was matured.\n\nAmerican Helium's project with Yankee Resources in Eastern Colorado has two aspects to it. It aims to acquire acreage for re-entry or twin-drilling of two wells in the western part of the project area and to shoot a 3D seismic survey on the majority of the acreage. The two wells produced natural gas until the mid-1990s when production was suspended. Gas analysis shows a helium content of 4.3% from a well that flowed 3-4 MMCFD of gas. These would be commercial quantities and this significantly lowers the risk of developing helium production and as such is a higher priority project than the Bruin Point property in Utah.\n\nIn addition, to the twinning of the wells, the Company aims to lease up to 14,000 acres of land and shoot a 3D seismic survey of some 28 square miles to mature prospects in the Upper Morrow formation. Helium content of 4 to 5% is expected. The seismic survey is planned for late 2018 and can be carried out after the harvest season and in parallel with the re-entry or redrill of the two wells.\n\nThe third project, that w...