Pulsar Helium Commences Field Activities for Deepening the Jetstream #1 Appraisal Well at the Topaz Project in Minnesota, USA
Pulsar Helium Inc. (AIM: PLSR, TSXV: PLSR, OTCQB: PSRHF) a leading helium project development company, announces the commencement of field activities at its flagship Topaz Project in Minnesota (“Topaz” or the “Project”). The Company reports that personnel and equipment have begun arriving on-site, with deepening of the Jetstream #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 #1 appraisal well by a minimum of 1,640 feet (500 metres).
Highlights
• Field mobilisation: Personnel and equipment started arriving on-site on the 7th of December.
• Drilling schedule: The deepening of the Jetstream #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 #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 #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 & CEO of Pulsar, commented on the recent development at the Topaz Project:
“Deepening Jetstream #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.”
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Strategic Significance
The Jetstream #1 appraisal well previously reached total depth (TD) of 2,200 feet (671 metres) on the 27th of February 2024, identifying top-tier helium concentrations of up to 14.5%, well above the 0.3% widely accepted economic threshold, and CO2 concentrations exceeding 70% – with the latter expected to further contribute to the project economics. The deepening of Jetstream #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 #1 will target the full height of the helium reservoir, guided by insights from recently acquired survey data, previous drilling phases, and onsite testing.
On behalf Pulsar Helium Inc.
“Thomas Abraham-James”
President, CEO and Director
Further Information:
Pulsar Helium Inc.
+ 1 (218) 203-5301
+44 (0) 2033 55 9889
