Navasota progress on helium project
Navasota Resources Ltd NAV
Shares issued 5,111,378 Sep 8 close $1.85
Wed 8 Sept 99 News Release
Mr. Edward Zederayko reports
A report on progress of the helium project was made at the company's annual
general meeting held in Vancouver, B.C. on Sept. 1, 1999. The meeting heard
that Navasota's research efforts found added encouraging results.
Interpretation of data gathered by previous efforts, when put all together,
suggest that the prospective area might be larger than originally
anticipated. The new data includes an analysis of helium with concentration
up to 99.9-per-cent purity, added localities with reported high helium
content near the surface, cores and reports from previous drilling that
indicate there are more potential reservoirs than originally believed and a
line of seismic that tends to confirm Navasota's anticipation based on
interpretation of aeromagnetic surveys.
This prompted Navasota to apply for added helium and associated gases
permits from the government of Saskatchewan. Acknowledgment of Navasota's
bid for added area more than doubling the 300-square-mile area of permits
already granted, was received from Saskatchewan's Department of Energy,
Mines and Resources on Aug. 21, 1999. The department informed Navasota that
a decision is pending upon confirmation of the availability of the areas
applied for and evaluation of sufficiency of Navasota's proposal. The
report with, and a map showing, the location of helium shows and the added
area applied for will be posted on Navasota's Web site, www.navasota.com.
Navasota will also present a display and explanation at the 1999 Calgary
Investment Conference, Oct. 3 and 4 at the Telus Convention Centre, 120 -
9th Ave. SE, Calgary, Alta.
Navasota expects delivery of the Hewlett-Packard G2890A portable gas
chromatograph on Sept. 24, 1999. Fieldwork, conducting a soil gas sampling
program, will begin as soon as Navasota's staff has completed the two-day
chromatograph training program. These efforts are intended to better guide
the location of the intended seismic program and as an aid to choosing
potential drill sites. The ability to make helium content analyses at low
cost and in little time is a major advance in exploration capability. |
