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Desert Mountain Energy Acquires Further Tranche of 12,228 Acres of Strategic Helium Leases in Arizona's Holbrook Basin
(via TheNewswire) June 11, 2018 / TheNewswire / Vancouver, British Columbia -- DESERT MO...
About this update from Desert Mountain Energy Corp.
[{"type":"text","content":"Desert Mountain Energy Acquires Further Tranche of 12,228 Acres of Strategic Helium Leases in Arizona's Holbrook Basin(via TheNewswire)\n \n \nJune 11, 2018 / TheNewswire / Vancouver, British Columbia -- DESERT MOUNTAIN ENERGY CORP. (the \"Company\") (TSX.V: DME) is pleased to announce that it has now acquired a further tranche of 12,228 acres under lease for helium, oil & natural gas from the Arizona Department of Land within the prolific Holbrook Basin of Eastern Arizona. The new leases are situated in Navajo, Apache and Coconino Counties. This now brings the Company's total acreage under lease in the Basin to 36,702 acres. The Company initiated its exploration and land acquisition program in the Basin in the 4th quarter of 2017. \n\n \n \nAs noted in the Company's PR dated February 28, 2018, two of the world's richest historic producing helium gas fields, the Pinta Dome and the Navajo Springs, are situated in this region. They are noted for their exceptionally high grades of helium gas produced ranging up to 8%-10% versus the industry benchmark of 0.3% to 1% for commercial grade. The new leases are highly prospective for helium as well as oil & natural gas. They bring to six the total number of distinct areas over which leases have now been secured by the Company in the Holbrook Basin. This latest tranche of leases adds acreage to the Company's flagship\n\n\n \nHeliopolis area in Coconino County, as well as adding three additional areas in the NE portion of the Basin in the vicinity of the Pinta Dome Field. The new areas are characterized by anticlinal features, monoclines and other geological structures with surface expression, together with reservoir rocks and salt and anhydrite caprocks, giving them potential to serve as trapping mechanisms for commercially significant helium reservoirs.\n\n \n \nApproximately 800 acres of the new leases are in Apache County in an area called the Chambers Area, which is situated in the NE corner of the Holbrook Basin approximately 9 miles NE of the prolific Pinta Dome Field and below the Defiance Uplift. This area is characterized by stratigraphic traps and appears to be highly prospective. \n\n \n \nApproximately 6428 acres of the new leases are in Navajo County in an area called the Woodruff East Area, which is situated in the NE corner of the Holbrook Basin approximately \n\n\n ...