- Royal Helium (RHC) has sampled up to 84.9 mg/L lithium in brine from its Climax Helium Project in Saskatchewan
- The company intends to advance a lithium brine project alongside Climax’s ongoing helium development
- The discovery holds ample potential to generate shareholder value given the generationally high price of lithium
- Royal Helium controls and develops over 1,000,000 acres of prospective helium land in Saskatchewan
- Royal Helium (RHC) is unchanged trading at $0.39 per share
Royal Helium (RHC) has sampled up to 84.9 mg/L lithium in brine from its Climax Helium Project.
The company has notified the Province of Saskatchewan of its intention to acquire the project’s lithium mineral rights to advance a lithium brine project alongside ongoing helium development.
Climax spans roughly 60,000 hectares, which would make it one of the largest lithium exploration projects in Western Canada.
Under the provisions of mineral tenure ownership, Royal is the only party who can be granted rights over the area of interest.
“In the Climax-1 well, drilled in January 2021, one of the zones that we tested showed significant inflows of brine water and gas,” stated Andrew Davidson, Royal Helium’s President and CEO. “Samples of both were taken and sent to lab for assay, returning elevated levels of helium and significant concentrations of lithium in brine.”
“With recorded lithium grades of 84.9 mg/litre, combined with flow rates in the range of 1.85 MMCF per day equivalent, Climax is set to not only become a cash-generative helium play, but also now presents potential additional value to stakeholders with a lithium exploration and development project,” he added.
Royal Helium controls and develops over 1,000,000 acres of prospective helium land in Saskatchewan.
Royal Helium (RHC) is unchanged trading at $0.39 per share as of 10:03 am EST.
