Pulsar Helium Inc (LON:PLSR, TSXV: PLSR, OTCQB: PSRHF), the helium project development company, has provided an operational update on the Topaz Project in Minnesota, where site improvements have now been completed, paving the way for a step forward in the Company’s helium exploration and production strategy.
With the recent upgrades to site access, roadways, and drill pad setup, Pulsar is on track to deepen the Jetstream #1 well to further explore and unlock the resource potential at Topaz, marking a pivotal step forward in its strategy to address the growing global demand for helium.
OPERATIONAL HIGHLIGHTS
• New Drilling Contract Signed: Following the announcement on 1 October 2024, Pulsar will partner with Capstar Drilling to deepen the Jetstream #1 well by approximately 500 metres to reach the anticipated full height of the helium reservoir.
• Roadway Enhancements: Sections of the Project’s main access road have been modified for all weather access to support operational traffic for year-round operations. This roadwork completion allows for the mobilisation of the Capstar drill rig in non-frozen conditions. Further access improvements are scheduled to take place in late November, in anticipation of increased traffic levels during the winter operational period.
• Drill Pad Ready: The Jetstream #1 drill pad is fully prepared and ready to accept the drilling rig and ancillary equipment which is anticipated to begin arriving to site during the first week of December.
Advancing Helium Production Potential
The Topaz Project, located in Minnesota, USA, is Pulsar’s flagship project and a cornerstone in its strategy to boost helium supply to the domestic market. One well has been drilled to date with additional deeper targets identified on recently acquired geophysical data. The deepening of the Jetstream #1 well is poised to identify further high-grade helium.
With all relevant permits for the Jetstream #1 well deepening in place, Pulsar is on target to commence drilling operations this quarter, positioning Topaz to play a transformative role in the global helium landscape.
Thomas Abraham-James, President & CEO of Pulsar, commented:
“Deepening Jetstream #1 is an exciting step forward for Pulsar. Our team has worked tirelessly to progress operations at Topaz, so we can fully understand its scale. Only one well has been drilled within the prospect, which has not yet met target depth, but has flowed concentrations that are considered very high by global standards, significantly surpassing the commonly accepted economic viability threshold. During the deeper drilling phase, we hope to build on this, and unlock a helium resource of size and quality, to advance our goal to become a premier helium supplier.
“This next drilling phase offers an unprecedented opportunity to unlock the district-scale opportunity offered by Topaz. We’ve seen other projects achieve significant gains in resource size and flow rates through similar deepening efforts, and combined with our data, and our existing high concentration credentials, we believe Jetstream #1 can stand as a top-tier helium production site worldwide.”
Strategic Advantages of High-Grade Helium
Topaz’s high-grade helium concentrations enable Pulsar Helium to maintain resilience in the face of market fluctuations, as higher-concentration deposits require less overall volume of raw gas to be processed for economically viable production. This focus on efficiency enhances profitability and solidifies Pulsar’s competitive edge within a volatile market.
