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VVC Exploration Corporation (" VVC " or the " Company ") (TSX-V:VVC) is pleased to announce the following updates from Plateau Helium Corporation (PHC), VVC's wholly owned helium exploration and production company:
- Drilling on the first new Syracuse well, Durler 2-21, began on August 2 nd with drilling completed on August 12 th . The well was drilled to a depth of 5,500 ft and encountered 2 gas zones that showed helium. The well completion, perforation, well-head installation, and attachment to the pipeline for commencement of production will occur in approximately 2 weeks.
- Drilling of a second Syracuse well, Levens 2, began on August 14 th and is expected to be completed on August 22 nd . The well completion, perforation, well-head installation, and attachment to the pipeline will begin shortly after.
- Drilling of a third Syracuse well is scheduled to begin on August 24 th .
All potentially productive gas zones encountered during the drilling of these wells will be evaluated. If a firm pattern is established one or more additional rigs may be added.
VVC President Jim Culver commented, "With the drilling of these wells, we are getting closer to generating positive cash flows from the helium business. This is the Company's immediate goal, as it will help provide funding to the Company's other projects."
About VVC Exploration Corporation
VVC is a publicly traded Canadian-based mining exploration and development company listed on the TSX Venture Exchange (TSX-V:VVC). With the addition of PHC, VVC is also a Helium Producing company. VVC's portfolio includes the Gloria Copper Project in Northern Mexico, precious metals properties also in Mexico and the Helium Projects owned by its wholly owned subsidiary, Plateau Helium Corporation ("PHC"). VVC is currently focused on the Helium Projects owned by PHC and will resume the development of Gloria Copper Project, as soon as Covid-19 restrictions are removed in Mexico. To learn more, visit our website at: https://vvcexpl.com .
| On behalf of the Board of Directors | ||
| Michel J. Lafrance, Secretary-Treasurer | ||
| For further information, please contact: | ||
| Patrick Fernet - (514) 631-2727 | or Trevor Burbank - (214) 641-1041 | |
| pfernet@vvcexploration.com | trevor@vvcexpl.com | |
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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