Avanti Energy Completes Geophysical Review At Its Aden Helium Project And Identifies First Drill Targets
Vancouver, B.C., July 12, 2021 – Avanti Energy Inc. (TSXV: AVN) (US OTC PINK: ARGYF) (the “Company”) is pleased to announce that following a detailed geophysical review of seismic data, the Company’s technical team has confirmed three potential drilling locations on its Aden property located in Southern Alberta. The Aden property is highly prospective for potential helium exploration and the Company is moving forward with its planned Q3/Q4 2021 drilling program.
- Avanti has identified three potential drilling locations to test multiple helium target intervals in the Precambrian and Beaverhill Lake formations.
- Geophysical review of seismic data has confirmed a four-way structural close with over 75 meters of relief, ideal for trapping helium.
- Wells will target multiple horizons, showing up to ~95% nitrogen and ~2% helium from multiple adjacent wells and previously abandoned wells located on the property.
- Initial environmental assessment on the property has been completed.
Following extensive geophysical evaluation of seismic data, the Company has identified three potential drilling targets and confirmed a large four-way closed structure with over 75 meters of relief. Geological evaluations of nearby wells indicate nitrogen concentrations between ~86% – 98% and helium concentrations between ~.6% – 2.17% in the Cambrian Sandstone, Lower Beaverhill Lake, and Upper Beaverhill Lake, providing three target pay zones for potential helium discovery.
As part of the comprehensive geological evaluation of the area, core and log analysis indicate excellent reservoir quality rock over multiple horizons in the Beaverhill Lake and Cambrian formations. The Company has also successfully completed its initial environmental assessment of the property.
“The entire team is excited to be moving into this next phase in the of development our properties,” commented Chris Bakker, Avanti Energy CEO. “The data from nearby wells, along with the extensive geological and geophysical analysis, have led our team to believe that these targets constitute the ideal locations for our 2021 drilling program and achieve the goal of confirming our geological models and discovering helium,” concluded Mr. Bakker.
Avanti continues to evaluate multiple opportunities across Western Canada and the United States to build an industry-leading helium company with a premier portfolio of prospective lands.
About Avanti Energy
Avanti Energy is focused on the exploration, development, and production of helium across western Canada and the United States. Avanti’s professional oil and gas exploration and production team is actively targeting untapped potential helium reserves to help meet the increasing global demand for an irreplaceable and scarce element critical to advanced technology, medical and space exploration industries. For more information, please go to the Company’s website at www.gradyf10.sg-host.com.
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The information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Such factors include, among other things: risks and uncertainties relating to the Company’s limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
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