Pulsar Helium Completes Key Site Improvements At Topaz Project, Setting Stage For Next Phase Of Drilling
Pulsar Helium has completed key site improvements at its Topaz Project in Minnesota, preparing for the next phase of drilling operations. The company has signed a contract with Capstar Drilling to deepen the Jetstream #1 well by approximately 500 metres to explore the full helium reservoir potential. Site improvements include enhanced roadways for all-weather access and a prepared drill pad ready to accept equipment in December. The project has shown high-grade helium concentrations, surpassing economic viability thresholds, positioning Pulsar to potentially become a significant helium supplier in the domestic market.
Pulsar Helium ha completato importanti miglioramenti sul sito del suo Progetto Topaz nel Minnesota, preparandosi per la prossima fase delle operazioni di perforazione. L'azienda ha firmato un contratto con Capstar Drilling per approfondire il pozzo Jetstream #1 di circa 500 metri per esplorare il potenziale completo del serbatoio di elio. I miglioramenti del sito includono strade migliorate per un accesso in tutte le condizioni meteorologiche e un piazzale di perforazione pronto ad accogliere attrezzature a dicembre. Il progetto ha mostrato concentrazioni di elio di alta qualità, superando le soglie di redditività economica, posizionando Pulsar per diventare potenzialmente un fornitore significativo di elio nel mercato domestico.
Pulsar Helium ha completado mejoras clave en su sitio del Proyecto Topaz en Minnesota, preparándose para la próxima fase de las operaciones de perforación. La compañía ha firmado un contrato con Capstar Drilling para profundizar el pozo Jetstream #1 aproximadamente 500 metros para explorar todo el potencial del reservorio de helio. Las mejoras del sitio incluyen carreteras mejoradas para el acceso en cualquier clima y una plataforma de perforación preparada para aceptar equipos en diciembre. El proyecto ha mostrado concentraciones de helio de alta calidad, superando los umbrales de viabilidad económica, posicionando a Pulsar para convertirse potencialmente en un proveedor significativo de helio en el mercado nacional.
펄사 헬륨은 미네소타의 탑재스 프로젝트에서 주요 현장 개선 작업을 완료하고 다음 단계의 시추 작업을 준비하고 있습니다. 이 회사는 캡스타 드릴링과 계약을 체결하고 제트스트림 #1 우물을 약 500미터 깊게 파서 헬륨 저장소의 잠재력을 탐색할 것입니다. 현장 개선에는 악천후에도 접근할 수 있는 도로 강화와 12월에 장비를 설치할 수 있도록 준비된 드릴 패드가 포함되어 있습니다. 이 프로젝트는 경제적 수익성 기준을 초과하는 고농도 헬륨 농도를 보였으며, 펄사를 국내 시장에서 중요한 헬륨 공급자로 자리 잡을 수 있는 위치에 두고 있습니다.
Pulsar Helium a achevé des améliorations clés sur son site du Projet Topaz au Minnesota, se préparant pour la prochaine phase des opérations de forage. L'entreprise a signé un contrat avec Capstar Drilling pour approfondir le puits Jetstream #1 d'environ 500 mètres afin d'explorer le potentiel complet du réservoir d'hélium. Les améliorations du site comprennent des routes améliorées pour un accès par tous les temps et une plateforme de forage prête à accueillir l'équipement en décembre. Le projet a montré des concentrations élevées d'hélium, dépassant les seuils de rentabilité économique, positionnant Pulsar pour potentiellement devenir un fournisseur significatif d'hélium sur le marché national.
Pulsar Helium hat wichtige Standortverbesserungen bei seinem Topaz-Projekt in Minnesota abgeschlossen und bereitet sich auf die nächste Phase der Bohrarbeiten vor. Das Unternehmen hat einen Vertrag mit Capstar Drilling unterzeichnet, um das Jetstream #1-Bohrloch um etwa 500 Meter zu vertiefen und das volle Potenzial des Heliumreservoirs zu erkunden. Zu den Standortverbesserungen gehören verbesserte Straßen für den ganzjährigen Zugang und ein vorbereiteter Bohrplatz, der im Dezember mit Geräten ausgestattet werden kann. Das Projekt hat hochgradige Heliumkonzentrationen gezeigt, die die wirtschaftlichen Rentabilitätsgrenzen überschreiten, und positioniert Pulsar, um möglicherweise ein bedeutender Heliumlieferant auf dem Inlandsmarkt zu werden.
- High-grade helium concentrations exceeding economic viability thresholds
- Site infrastructure improvements completed for year-round operations
- Drilling contract secured with Capstar Drilling for well deepening
- All relevant permits obtained for Jetstream #1 well deepening
- Current well has not yet reached target depth
- Only one well drilled to date within the prospect
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES OF AMERICA, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR TO BE TRANSMITTED, DISTRIBUTED TO, OR SENT BY, ANY NATIONAL OR RESIDENT OR CITIZEN OF ANY SUCH COUNTRIES OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION MAY CONTRAVENE LOCAL SECURITIES LAWS OR REGULATIONS.
CASCAIS, PORTUGAL / ACCESSWIRE / November 4, 2024 / Pulsar Helium Inc. (AIM:PLSR)(TSXV:PLSR)(OTCQB:PSRHF) ("Pulsar" or the "Company"), the helium project development company, is pleased to provide an operational update on the Topaz Project in Minnesota ("Topaz" or the "Project"), 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 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.
Further Information:
Pulsar Helium Inc.
connect@pulsarhelium.com
+ 1 (604) 599-0310
Strand Hanson Limited
(Nominated & Financial Adviser and Joint Broker)
Ritchie Balmer / Rob Patrick / Richard Johnson
+44 (0) 207 409 3494
OAK Securities*
(Joint Broker)
Jerry Keen (Corporate Broking) / Henry Clarke (Institutional Sales) / Dillon Anadkat (Corporate Advisory)
info@OAK-securities.com
+44 203 973 3678
BlytheRay Ltd
(Financial PR)
Megan Ray / Said Izagaren
+44 207 138 3204
pulsarhelium@blytheray.com
*OAK Securities is the trading name of Merlin Partners LLP, a firm incorporated in the United Kingdom and regulated by the UK Financial Conduct Authority.
About Pulsar Helium Inc.
Pulsar Helium Inc. is a publicly traded company quoted on the AIM market of the London Stock Exchange and the TSX Venture Exchange with the ticker PLSR, as well as on the OTCQB with the ticker PSRHF. Pulsar's portfolio consists of its flagship Topaz helium project in Minnesota, USA, and the Tunu helium project in Greenland. Pulsar is the first mover in both locations with primary helium occurrences not associated with the production of hydrocarbons identified at each. For further information visit https://pulsarhelium.com, X https://x.com/pulsarhelium and LinkedIn https://ca.linkedin.com/company/pulsar-helium-inc.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release and the interview contains forward-looking information within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to the Company's current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated", "intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook") are not historical facts and may be forward-looking statements. Forward-looking statements herein include, but are not limited to, statements relating to the results of drilling, results of an updated independent resource estimate for helium and CO2 at Topaz; the results of a preliminary economic assessment; the estimated Geological Chance of Success for the Prospective Resources and the Chance of Commerciality of Topaz; the potential impact of deepening Jetstream #1 and the potential impact of such deepening on the next iteration of the resource estimate; the expected timing to commence drilling; and the potential for future wells. Forward-looking statements may involve estimates and are based upon assumptions made by management of the Company, including, but not limited to, the Company's capital cost estimates, management's expectations regarding the availability of capital to fund the Company's future capital and operating requirements and the ability to obtain all requisite regulatory approvals.
No reserves have been assigned in connection with the Company's property interests to date, given their early stage of development. The future value of the Company is therefore dependent on the success or otherwise of its activities, which are principally directed toward the future exploration, appraisal and development of its assets, and potential acquisition of property interests in the future. Un-risked Contingent and Prospective Helium Volumes have been defined at the Topaz Project. However, estimating helium volumes is subject to significant uncertainties associated with technical data and the interpretation of that data, future commodity prices, and development and operating costs. There can be no guarantee that the Company will successfully convert its helium volume to reserves and produce that estimated volume. Estimates may alter significantly or become more uncertain when new information becomes available due to, for example, additional drilling or production tests over the life of field. As estimates change, development and production plans may also vary. Downward revision of helium volume estimates may adversely affect the Company's operational or financial performance.
Helium volume estimates are expressions of judgement based on knowledge, experience and industry practice. These estimates are imprecise and depend to some extent on interpretations, which may ultimately prove to be inaccurate and require adjustment or, even if valid when originally calculated, may alter significantly when new information or techniques become available. As further information becomes available through additional drilling and analysis the estimates are likely to change. Any adjustments to volume could affect the Company's exploration and development plans which may, in turn, affect the Company's performance. The process of estimating helium resources is complex and requires significant decisions and assumptions to be made in evaluating the reliability of available geological, geophysical, engineering, and economic date for each property. Different engineers may make different estimates of resources, cash flows, or other variables based on the same available data.
Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward- looking statements. Such risks and uncertainties include, but are not limited to, that Pulsar may be unsuccessful in drilling commercially productive wells; the uncertainty of resource estimation; operational risks in conducting exploration, including that drill costs may be higher than estimates and the potential for delays in the commencement of drilling; commodity prices; health, safety and environmental factors; and other factors set forth above as well as under "Cautionary Note Regarding Forward Looking Statements and Market and Industry Data" and "Risk Factors" in the AIM Admission Document published on October 14, 2024 found on the Company's web site at https://pulsarhelium.com/investors/aim-rule-26/default.aspx. Forward-looking statements contained in this news release are as of the date of this news release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. No assurance can be given that the forward-looking statements herein will prove to be correct and, accordingly, investors should not place undue reliance on forward-looking statements. Any forward-looking statements contained in this news release and interview are expressly qualified in their entirety by this cautionary statement.
SOURCE: Pulsar Helium Inc.
View the original press release on accesswire.com
FAQ
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