CASCAIS, PORTUGAL - Pulsar Helium (TSXV:PLSR) Inc. (AIM: PLSR, TSXV: PLSR, OTCQB: PSRHF), a company specializing in helium project development, has initiated the deepening of its Jetstream #1 appraisal well at the Topaz Project in Minnesota, USA. The drilling, which began on the evening of Sunday, January 2, 2025, aims to extend the well by at least 1,640 feet to a projected total depth of 3,840 feet.
The operation at Topaz is set to conclude later this week, followed by open-hole wireline logging to evaluate well characteristics. Flow testing will be conducted after well pressures stabilize. Additionally, preparations for a second well, Jetstream #2, are underway, with conductor installation expected by the end of Tuesday, January 8.
Thomas Abraham-James, President & CEO of Pulsar, expressed optimism about the drilling's progression and the potential to fully assess the high helium concentration reservoir discovered previously. In February 2024, drilling data indicated that the reservoir could extend an additional 1,640 feet below the initial depth. The company aims to confirm this through the current drilling phase, which leverages insights from recent geophysical data and previous onsite testing.
The deepening of Jetstream #1 is a strategic endeavor for Pulsar, aligning with its objective to meet the rising global helium demand. The well previously reached a total depth of 2,200 feet, revealing helium concentrations up to 14.5%, significantly surpassing the 0.3% economic threshold. CO2 levels exceeded 70%, potentially enhancing the project's economic prospects.
Pulsar has positioned itself as a first mover in helium exploration in both Minnesota and Greenland, with its Topaz and Tunu projects respectively. The company's success in developing these assets is crucial as no reserves have been assigned to the properties yet, and their valuation hinges on future exploration and development outcomes.
The information in this article is based on a press release statement from Pulsar Helium Inc. and does not include any speculative content or subjective assessment. The company's forward-looking statements involve risks and uncertainties, including the possibility of operational or commodity price challenges, which could impact the actual results of the drilling activities.
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