Blue Star bulks up Colorado helium footprint
Link copied to
Special Report: Blue Star has built a commanding footprint over prospective helium ground in Colorado with the leasing of a further 12,557 net acres.
This establishes a contiguous footprint over the highly-ranked Galileo prospect and takes the company’s total leasing up to 177,000 gross (120,000 net) acres.
Blue Star Helium (ASX:BNL) has also added new leases, which were secured from private mineral owners and the Federal Bureau of Land Management, over the Enterprise and other prospects.
The impact to the net prospective resources at Enterprise and Galileo is currently being assessed and will be updated shortly.
Planning for the company’s maiden drill program in the current quarter is ongoing.
“I’m pleased to see the contiguous high net leasing across Galileo and the continuation of infill leasing at other prospects,” managing director Joanne Kendrick said.
“Not only does this give us a greater net entitlement to potential helium resources in these prospects, but it also allows us to explore and, in the case of success, develop the resources in the most optimal way.”
Helium, traditionally a low concentration by-product of natural gas production, is a dwindling commodity that is vital in a number of modern technology applications such as MRI and nuclear medicine.
Blue Star is targeting high helium concentration accumulations on its acreage and has already identified the potential for the Enterprise and Galileo prospects to host prospective resources of 3 billion cubic feet of helium.
Besides the potential for an increase to this estimate from the addition of the latest leases, there is also potential for more helium to be found at the remaining nine prospects in Colorado’s highly prospective Las Animas region.
The company has already staked out the location of the first hole at the Enterprise prospect.
This article was developed in collaboration with Blue Star, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.