Pulsar Helium Inc. the emerging multi project pure play helium development company announced more positive results from its Topaz helium project in Minnesota, firmly establishing it among the top-tier of global primary helium projects.
Positive results received from a recent 1.1 km (0.7 mi) long 2D seismic sweep survey shows a seismic reflector identified at the same depth as gas intersected in the Jetstream #1 appraisal well, and additional reflectors at depth. This further substantiates Pulsar's expectations for the helium-bearing reservoir to be regional in scale, expansive both laterally and at depth. Pulsar has also successfully completed additional airborne gravity gradiometry (AGG) and magnetic surveys with data now processed and ready for interpretation.
Pulsar is the first mover in Minnesota, and the Jetstream #1 appraisal well has demonstrated exceptional helium concentrations between 8.7% and 14.5%, with gas naturally flowing to surface. This significant discovery not only confirms the presence of a sizable helium occurrence but also underscores the potential for Topaz to become a major player in the global helium market.
The Topaz project is located in Minnesota, approximately 100 km north of Duluth, a regional centre supporting the vast iron ore mines of North America. The project is situated on private mineral rights for which Pulsar has an exclusive lease. The company has also applied for additional leases in areas of interest with the State of Minnesota and additional private mineral rights holders. The State of Minnesota has also passed new helium-focused legislation, creating a clear pathway for project development.
The geology of the Topaz area includes some of the oldest rocks in North America, suggesting an excellent helium source rock. Helium is generated via the radiogenic decay of uranium and/or thorium – when they break down, a helium ‘alpha particle’ is created.
The Jetstream #1 appraisal well at the Topaz project has been the focal point of Pulsar’s recent activities. The well reached a total depth of 671 meters (2,200 feet) and encountered remarkably high helium concentrations between depths of 533-671 metres (1,750 to 2,200 feet).
The flow testing recorded a maximum rate of 821,000 cubic feet per day, with helium concentrations ranging from 8.7% to 14.5%. These results are considered world-class, placing the Topaz project amongst the top tier of primary helium discoveries globally.
The Jetstream #1 appraisal well also demonstrated a rapid pressure rebound, with 70% pressure recovery within the first hour of post-flow shut-in, indicating the potential for a significant volume of gas.
Data collected from Jetstream #1 has been sent to Sproule International Ltd, the independent resource estimator, for an update on the resource estimate for the Topaz project. The results are expected in July.
Meanwhile, Pulsar is preparing for additional field activities, including further drilling (scheduled to occur in 2024). The proposed drill programme aims to deepen the Jetstream #1 well to assess the full extent of the helium-bearing zone as defined by existing and new seismic data. During drilling, pressure is expected to increase at depth, contributing to increased gas flow rates to the surface. Two step-out wells are also proposed to further delineate and de-risk the resource.
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