leadf
logo-loader
viewBlue Star Helium Ltd

Blue Star Helium acquires strategically significant acreage within highly prospective region of Colorado

The new leases are expected to enable the company to drill multiple wells in its maiden drilling program.

Blue Star Helium Ltd - Blue Star Helium acquires 22 new leases over 34,848 gross acres within Las Animas region
The new leases were acquired for US$849,492 at last week's Federal Bureau of Land Management's auction

Blue Star Helium Ltd (ASX:BNL) (OTCMKTS:AZZEF) has acquired an additional 22 new leases over 34,848 gross acres within the highly prospective Las Animas region in Colorado, USA.

The new leases were acquired for a total of US$849,492 at the Federal Bureau of Land Management’s (BLM) land auction last week, with Blue Star now holding total acreage of around 164,000 gross acres (108,000 net acres).

This large net lease position now held over six priority prospects, including Enterprise and Galileo, is expected to lead to an expanded maiden drilling program of multiple wells.

“Dominant acreage position”

Blue Star managing director Joanne Kendrick said: “I am delighted with the outcome of the latest BLM auction.

“The new leasing adds significantly to Blue Star’s dominant acreage position in the area but more importantly we now have a high-net contiguous position over four more of our preferred helium prospects - Voyager, Prometheus, Galactica and the newly named Pegasus.

”We will now conclude in-field surveys and prospective resource assessments to get these four prospects drill-ready and to the same level of technical maturity as Enterprise and Galileo.

“We will then select a number of further prospects to add to our maiden drilling program to test structures within the Lyons Helium Play Fairway proven by the historic Model Dome helium field.”

Additional prospective resource assessments are underway prior to a final decision on expanding the program.

Shares have been as much as 10% higher to A$0.034.

Quick facts: Blue Star Helium Ltd

Price: 0.041 AUD

ASX:BNL
Market: ASX
Market Cap: $43.53 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Blue Star Helium Ltd named herein, including the promotion by the Company of Blue Star Helium Ltd in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Blue Star Helium on cusp of drilling as it picks up strategically...

Blue Star Helium Ltd's (ASX:BNL) (OTCMKTS:AZZEF) Joanne Kendrick speaks to Proactive's Andrew Scott following the news it's acquired an additional 22 new leases over 34,848 gross acres within the highly prospective Las Animas region in Colorado, USA. This large net lease position now held over...

3 weeks, 5 days ago

2 min read