Pulsar Helium starts helium exploration at Topaz Project, Minnesota

Pulsar Helium Inc. [TSXV, AIM: PLSR; OTCQB: PSRHF] has commenced field activities at its flagship Topaz Project in Minnesota. The company reports that personnel and equipment have begun arriving on site, with deepening of the Jetstream No. 1 appraisal well set to commence when all equipment is on site and scheduled to conclude before the Christmas holiday. As part of this crucial phase, Pulsar plans to deepen the Jetstream No. 1 appraisal well by a minimum of 1,640 feet (500 metres).

Highlights – Field mobilization: Personnel and equipment started arriving on site on December 7, 2024.

Drilling schedule: The deepening of the Jetstream No. 1 appraisal well is scheduled to begin when the rig and all associated equipment is on site and conclude prior to the Christmas holiday.

Well extension: Pulsar aims to deepen the Jetstream No. 1 well by a minimum of 1,640 feet (500 metres), penetrating the entire modelled helium-bearing reservoir.

Data acquisition: A mass spectrometer will be acquiring gas compositional data throughout the drilling, with wireline log acquisition to occur immediately upon completion of drilling.

Site preparedness: The Jetstream No. 1 drill pad is fully prepared and permitted.

Continuous operations: Comprehensive site upgrades are completed, allowing continuous drilling and access to support ancillary activities throughout December and into 2025.

Thomas Abraham-James, president and CEO, commented on the recent development at the Topaz project: “Deepening Jetstream No. 1 is a major step forward for Pulsar. The February 2024 well that was drilled within the prospect did not reach the desired depth flowed concentrations that are extremely high by global standards, significantly surpassing the commonly accepted economic viability threshold. During this deeper drilling phase, we plan to build on this and unlock a helium resource of size and quality to advance our goal to become a significant helium supplier.

“I look forward to updating our shareholders on the drilling results in the near future.”

Strategic significance: The Jetstream No. 1 appraisal well previously reached total depth of 2,200 feet (671 metres) on February 27, 2024, identifying top-tier helium concentrations of up to 14.5% (well above the widely accepted economic threshold of 0.3%) and CO₂ (carbon dioxide) concentrations exceeding 70% – with the latter expected to further contribute to the project economics.

The deepening of Jetstream No. 1 is a pivotal step in advancing Pulsar’s strategy to address the increasing global demand for helium as the company moves another step closer to production. The deepening of Jetstream No. 1 will target the full height of the helium reservoir, guided by insights from recently acquired survey data, previous drilling phases and on-site testing.

Pulsar Helium’s portfolio consists of its flagship Topaz helium project and the Tunu helium project in Greenland. Pulsar is the first mover in both locations with primary helium occurrences not associated with the production of hydrocarbons identified at each.