- Pulsar Helium (TSXV:PLSR), a junior helium explorer, has doubled its land package at the Topaz project in Minnesota from 2,089 to 4,181 net acres
- A resource report and globally relevant helium grades from an initial well support the project’s district-scale potential
- Pulsar Helium is a junior mining company developing a pair of first-mover helium projects in Greenland and the United States
- Pulsar Helium stock is up by 116.67 per cent year-over-year and by 79.31 per cent since inception in August 2023
Pulsar Helium (TSXV:PLSR), a junior helium explorer, has doubled its land package at the Topaz project in Minnesota from 2,089 to 4,181 net acres.
The transaction saw Pulsar exercise an exclusive option with a private mineral rights holder over 2,092 net acres for US$313,800 or US$150 per acre, including a 20 per cent royalty and a 5-year term for undeveloped land.
Topaz is the site of the Jetstream No. 1 well, the top-ranked well in terms of helium content in North America and one of the highest-grade in the world, with readings maxing out at 14.5 per cent backed by indications of a large accumulation of gas.
The project’s prospectivity is also supported by an independent resource report from Sproule International – covering 13 per cent of Pulsar’s land package – which finds Topaz to house commercial concentrations of helium and carbon dioxide at 2.8 billion cubic feet and 21.3 billion cubic feet, respectively.
Backed by additional insights from multiple geophysical, geological and seismic studies, Pulsar believes Topaz is only the beginning of “a newly emerging helium reservoir that is regional in scale,” according to Wednesday’s news release, and is pursuing additional acres through Minnesota’s new state leasing legislation.
Drills are slated to spin at the Jetstream No. 1 well later this quarter to increase its depth by 500 metres and better understand the source of its gas flow.
Leadership insights
“Based on existing data demonstrating the continuity of the system, along with the Sproule resource report, which highlighted the helium resource of one prospect in the area, we believe the Topaz project has district-size scalability,” Thomas Abraham-James, Pulsar Helium’s president and chief executive officer, said in a statement. “Accordingly, as part of our growth strategy, we are actively securing key land positions. Following this option exercise, we are pleased to have almost doubled our net acreage and are now targeting additional land acquisitions, guided by well-defined geological insights.”
“These are exciting times for Pulsar, especially at the Topaz project, where our next steps include deepening the Jetstream No. 1 well, which we believe will positively influence our resource update, then assessing drilling step-out wells, and the completion of additional seismic studies,” Abraham-James added. “These efforts will enhance our understanding of this dual-commodity project, which benefits from strong domestic demand for both helium and CO2. I look forward to regularly updating shareholders as we execute our project plan and continue to build value for all stakeholders.”
About Pulsar Helium
Pulsar Helium is a junior mining company developing a pair of first-mover helium projects in Greenland and the United States.
Pulsar Helium stock (TSXV:PLSR) last traded at C$0.52 per share. The stock is up by 116.67 per cent year-over-year and by 79.31 per cent since inception in August 2023.
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(Top photo of the Jetstream No. 1 well at Pulsar Helium’s Topaz project in Minnesota: Pulsar Helium)