- Royal Helium (RHC) has sampled up to 81.3 Mg/L lithium brine at its Climax-2 well
- The well is located on the company’s helium land block 160 km south of Swift Current in Saskatchewan
- The sample indicates a very large potential resource meriting further development
- Royal Helium controls and develops over 1,000,000 acres of prospective helium land in Saskatchewan
- Royal Helium (RHC) opened with a gain of 2.9 per cent trading at $0.355 per share
Royal Helium (RHC) has sampled up to 81.3 Mg/L lithium brine at its Climax-2 well.
The well is located on the company’s helium land block 160 km south of Swift Current in Saskatchewan.
Climax-2 is 2.7 km southeast of Climax-1 with both wells testing the lithium-bearing brine zone within the Duperow formation.
Based on 3D seismic data collected this year, Royal believes that the Climax-2 lithium brine zone extends from the same pool in Climax-1 and appears to extend well beyond the current 3D coverage area. The company will test this area in upcoming programs.
The Climax Project is approximately 60,000 hectares in size, which would make it one of the largest lithium exploration projects in Western Canada.
“These tests not only continue to show some of the highest lithium assays in Western Canada but are also indicating a very large potential pool size, which really substantiates our reasoning to develop this lithium play further,” stated Andrew Davidson, Royal’s President and CEO. “As indicated in our previous news release, we have already applied for the mineral rights to all of Climax and are awaiting issuance from the province.”
Royal Helium controls and develops over 1,000,000 acres of prospective helium land in Saskatchewan.
Royal Helium (RHC) opened with a gain of 2.9 per cent trading at $0.355 per share.