Royal Helium has been granted a 100% interest in a lease covering ~43,600 acres that is located adjacent to the Company’s Climax property. Royal will now proceed to conduct geotechnical and seismic surveys of the permit to identify structural traps. Royal has also completed the first phase of exploration on Climax East and identified an ~3,100-hectare basement structure with a 4-way closure. The company has identified 7 drill targets and will provide spud details shortly. Royal aims at building up its drill inventory to over 25 well targets over these several projects within the next few months.
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