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First Helium Provides Update on its 880,000 Acres of Option Lands in Southern Alberta
First Helium Provides Update on its 880,000 Acres of Option Lands in Southern Alberta ...
About this update from First Helium Inc.
[{"type":"text","content":"\n \n \n \n First Helium Provides Update on its 880,000 Acres of Option Lands in Southern Alberta\n \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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n The Company Intends to Select a Minimum of 125,000 Acres for Future Drilling\n \n \n \n \n CALGARY, AB\n \n ,\n \n Oct. 28, 2021\n \n /CNW/ -\n \n First Helium Inc. (\"First Helium\" or the \"Company\")\n \n (TSXV: HELI) (FRA: 2MC), a helium exploration company with access to significant development opportunities across western\n \n Canada\n \n , is pleased to announce that the Company's technical team has made significant progress in evaluating approximately 880,000 acres of prospective helium lands (the \"\n \n Block\n \n \") currently held under a seismic review and option agreement (the \"\n \n Option Agreement\n \n \") with a large landholder in southern\n \n Alberta\n \n . In the fourth quarter of 2021, a minimum 125,000 acres (the \"\n \n Select Lands\n \n \"), all with significant 2D and 3D seismic data coverage, will be continued under the terms of the Option Agreement for a further, more detailed seismic evaluation in anticipation of drilling.\n \n \n \n \n \n \n \n \n \n \n Ed Bereznicki\n \n , President & 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.\" Mr. Bereznicki added, \"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. \"\n \n \n Under the terms of the Option Agreement, the Company can elect to extend its exclusive access to Select Lands and associated seismic data for a period of up to 2 years at a nominal average cost per acre (less than\n \n $3\n \n ). Costs associated with extending ...