Oil well

PCT LTD Updates Grassy Creek O&G JV

Retrieved on: 
Friday, July 30, 2021

The JV will be known as Disruptive Oil & Gas Technologies Corp.

Key Points: 
  • The JV will be known as Disruptive Oil & Gas Technologies Corp.
  • The plan calls for the JV to drill a series of infield wells in the Grassy Creek field of which Maverick and PCTL will be participating on a royalty basis.
  • Maverick will be providing all the drilling services and PCTL will be selling their fluids to the JV which will be independently funded through a Reg D offering.
  • PCT LTD ("PCTL") focuses its business on acquiring, developing and providing sustainable, environmentally safe disinfecting, cleaning and tracking technologies.

REPEAT -- Metallica Metals Identifies Numerous Drill Targets for Its Starr Project, Thunder Bay Mining District

Retrieved on: 
Wednesday, July 28, 2021

Paul Tnire, CEO and Director of Metallica Metals commented, Metallica Metals is very pleased with the results of the structural and geophysical interpretation on the Starr Project, which sets the stage for our upcoming maiden drilling program.

Key Points: 
  • Paul Tnire, CEO and Director of Metallica Metals commented, Metallica Metals is very pleased with the results of the structural and geophysical interpretation on the Starr Project, which sets the stage for our upcoming maiden drilling program.
  • We have identified a significant amount of drill targets that are both significantly advanced with known surface gold occurrences as well as grassroots targets that have never been tested.
  • Drill targeting was completed through a combination of these structures as well as IP and EM data and proximity to known mineralization.
  • Metallica Metals will utilize these targets as well as existing targets located below known high-grade surface gold occurrences to finalize its upcoming diamond drilling program.

Great Bear Completes Phase 1 Grid Drilling to 450 m Depth at LP Fault: 440 Holes, 222,500 m Drilled Since May 2019 Discovery

Retrieved on: 
Wednesday, July 28, 2021

Chris Taylor, President and CEO of Great Bear said, "We have now completed 440 drill holes at the LP Fault, and our Phase 1 drill grid is substantially complete to an average 450 metres depth along over 4 kilometres of strike length.

Key Points: 
  • Chris Taylor, President and CEO of Great Bear said, "We have now completed 440 drill holes at the LP Fault, and our Phase 1 drill grid is substantially complete to an average 450 metres depth along over 4 kilometres of strike length.
  • Great Bear has approximately $83 million in cash on hand and is funded through 2022.
  • In total, Great Bear has completed 630 drill holes totaling 283,000 metres into all gold zones since beginning drilling at the Dixie Project in summer 2017.
  • Great Bear Resources Ltd.is a well-financed gold exploration company managed by a team with a track record of success in mineral exploration.

Metallica Metals Identifies Numerous Drill Targets for Its Starr Project, Thunder Bay Mining District

Retrieved on: 
Wednesday, July 28, 2021

Paul Tnire, CEO and Director of Metallica Metals commented, Metallica Metals is very pleased with the results of the structural and geophysical interpretation on the Starr Project, which sets the stage for our upcoming maiden drilling program.

Key Points: 
  • Paul Tnire, CEO and Director of Metallica Metals commented, Metallica Metals is very pleased with the results of the structural and geophysical interpretation on the Starr Project, which sets the stage for our upcoming maiden drilling program.
  • We have identified a significant amount of drill targets that are both significantly advanced with known surface gold occurrences as well as grassroots targets that have never been tested.
  • Drill targeting was completed through a combination of these structures as well as IP and EM data and proximity to known mineralization.
  • Metallica Metals will utilize these targets as well as existing targets located below known high-grade surface gold occurrences to finalize its upcoming diamond drilling program.

Global Underground Mining Diamond Drilling Market Expected to Exceed $660 Million by 2026

Retrieved on: 
Tuesday, July 27, 2021

The drill holes in this Program concentrated on infilling historic drilling in the DAC and GAP Zones, and confirmation of historic drilling which identified mineralization in these areas.

Key Points: 
  • The drill holes in this Program concentrated on infilling historic drilling in the DAC and GAP Zones, and confirmation of historic drilling which identified mineralization in these areas.
  • "Our team worked diligently to complete the program as efficiently and safely as possible, while coming in well under budget.
  • The average market price for gold in Q2 was $1,816 per ounce, while the average market price for copper in Q2 was $4.40 per pound.
  • You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements.

Global Underground Mining Diamond Drilling Market Expected to Exceed $660 Million by 2026

Retrieved on: 
Tuesday, July 27, 2021

PALM BEACH, Fla., July 27, 2021 /PRNewswire/ -- Underground mining diamond drilling is the process of extracting core samples from the earth. This is an exploratory process that determines the structural strength of mineral composition for construction projects or potential mining. Diamond coring bits are majorly used in the exploration phase of the mining industry. Underground mining diamond drilling includes of diamond core drill bits, which are equipped with drilling systems, for example, rotary or wireline drilling systems. Deployment of efficient coring drilling rings in the exploration phase entails extensive capital investment. Mining companies invest significantly in installation and testing of mined samples over coring systems. Growing the demand for base metals such as nickel, lead, copper, and zinc and precious metals for instance gold, silver, and diamond is expected to boost investments in the metal mining business. This is possible to augment the demand for diamond core drill bits that are used in underground mining of hard rocks. Diamond core drill bits are mostly employed in the exploration industry, especially for hard rocks, as the penetration of diamond bits is high regarding that of other materials. Active stocks in the mining markets this week Clarity Gold Corp. (OTCPK: CLGCF) (CSE: CLAR), Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX), Osisko Gold Royalties Ltd (NYSE: OR) (TSX: OR), Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM), Kinross Gold Corporation (NYSE:KGC) (TSX:K).

Key Points: 
  • The drill holes in this Program concentrated on infilling historic drilling in the DAC and GAP Zones, and confirmation of historic drilling which identified mineralization in these areas.
  • "Our team worked diligently to complete the program as efficiently and safely as possible, while coming in well under budget.
  • The average market price for gold in Q2 was $1,816 per ounce, while the average market price for copper in Q2 was $4.40 per pound.
  • You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements.

High Arctic Acquires Rental Equipment

Retrieved on: 
Tuesday, July 27, 2021

CALGARY, Alberta, July 26, 2021 (GLOBE NEWSWIRE) -- High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) announces the execution of an agreement to acquire 17 modern hydraulic catwalks from a vendor in the Cold Lake area of Alberta for $1.1M.  

Key Points: 
  • A total of 14 of the units are currently deployed with an existing High Arctic customer in Cold Lake and the remaining units are in ready working condition.
  • As part of the transaction, High Arctic and the vendor will equally share revenue from July to December 2021, while High Arctic incrementally takes possession of each machine, assumes title of the units and upgrades each one to the latest specification, safety controls and mobility expected by our customers.
  • High Arctics principal focus is to provide drilling and specialized well completion services, equipment rentals and other services to the oil and gas industry.
  • High Arctic is a market leader providing drilling and specialized well completion services and supplies rig matting, camps and drilling support equipment on a rental basis in Papua New Guinea.

Brixton Metals Discovers Visible Gold at Surface Above a Large Geophysical Feature at the Thorn Project’s Trapper Gold Target

Retrieved on: 
Monday, July 26, 2021

The Trapper Gold Target is located about 8km southeast from the Camp Creek Target.

Key Points: 
  • The Trapper Gold Target is located about 8km southeast from the Camp Creek Target.
  • The Trapper Target represents a volcanic hosted epithermal gold target where soil and rock sampling have identified a 7.5km long northwest trending gold anomaly.
  • Forty-two drill holes totaling 8581m were drilled at the Trapper Target in 2011.
  • Brixton completed 2,700m of drilling so far this 2021 season and is currently drilling.

Imperial Helium Completes Drilling First Well on the Historic Steveville Structure

Retrieved on: 
Monday, July 26, 2021

VANCOUVER, British Columbia, July 26, 2021 (GLOBE NEWSWIRE) -- Imperial Helium Corp. (Imperial Helium or the Company) (TSX-V: IHC) is pleased to announce it has successfully drilled, logged, and cased its first well, IHC-Steveville-1(102/03-01-020-12W4), on its historic Steveville Helium asset, in South Eastern Alberta.

Key Points: 
  • VANCOUVER, British Columbia, July 26, 2021 (GLOBE NEWSWIRE) -- Imperial Helium Corp. (Imperial Helium or the Company) (TSX-V: IHC) is pleased to announce it has successfully drilled, logged, and cased its first well, IHC-Steveville-1(102/03-01-020-12W4), on its historic Steveville Helium asset, in South Eastern Alberta.
  • IHC-Steveville-1, Imperial Heliums first appraisal well of the Steveville structure reached a total depth of 2167.46m (PBTD) and penetrated the crest of the structure, as expected.
  • In addition, we will begin drilling IHC-Steveville-2, the second appraisal well which directly offsets the Steveville blow-out.
  • Imperial Helium has acquired seismic to provide an improved understanding of the basement structure and select drilling locations.

CA Permit Approvals For New Well Drills Are Down 64% For The First Six Months; Consumer Watchdog Urges Governor To Seize Golden Opportunity To Move From Fossil Fuels

Retrieved on: 
Monday, July 26, 2021

"Governor Newsom now has a golden opportunity to seize the moment and come forward with a decisive transition plan off of fossil fuels that includes switching oil workers away from production toward desperately needed well remediation."

Key Points: 
  • "Governor Newsom now has a golden opportunity to seize the moment and come forward with a decisive transition plan off of fossil fuels that includes switching oil workers away from production toward desperately needed well remediation."
  • "Overall, rates of both permit approvals and counts of permit applications to drill new wells have dropped in 2021," said Kyle Ferrar, Western Program Coordinator at FracTracker Alliance.
  • "While the market traditionally drives permit application counts, Governor Newsom now has the opportunity to reduce the expansion of oil extraction.
  • (See Table 1 at: https://consumerwatchdog.org/energy/ca-permit-approvals-new-well-drills-... )Permit approvals to rework wells, including re-drilling, unclogging, and deepening, fell 36%.