Pulsar Helium has secured twice as much land to explore following a new agreement to lease private land located east of Babbitt. This development increases the company’s interest in the Topaz Project from 2,089 to 4,181 net acres, marking a significant expansion.
According to the lease terms, any developed tract can be extended beyond the initial five-year period, provided the Topaz Project continues to produce gas. Pulsar is also seeking to acquire additional acreage through the recently introduced state leasing process, further bolstering its position in the region.
In addition to expanding its landholdings, Pulsar has announced a new drilling contract with Capstar Drilling for its Topaz Helium Project. This contract follows the successful drilling of the Jetstream #1 well, with further drilling activities planned for this quarter. The planned work involves deepening the Jetstream #1 well by an additional 1,640 feet to reach the full expected height of the reservoir. There is also an option to drill two more step-out wells in the future.
The deepening of the Jetstream #1 well is scheduled to begin in mid-December, a process expected to take around seven days. The step-out wells, which are located in areas requiring frozen ground for access, are expected to commence in mid-January.
Pulsar CEO Thomas Abraham-James expressed optimism about these developments, calling the Capstar Drilling contract a significant step towards commercialising the high-grade Topaz helium project in Minnesota. He stated that the deepening of the Jetstream #1 well is expected to further demonstrate the economic viability of the project and confirm the reservoir’s potential at a district scale, positioning Topaz as a leading helium and CO2 resource in North America.
Abraham-James highlighted the growing importance of mineral security and the development of resources in safe jurisdictions, which are becoming key factors in investor decision-making. He also noted the strong political support in Minnesota for the Topaz Project, citing the statewide benefits of bringing the project online. As progress continues, Pulsar is committed to keeping the market updated and delivering on its strategic objectives for the benefit of all stakeholders.
Pulsar Helium Inc (TSXV:PLSR) is a leading primary helium exploration and development company. Its flagship Topaz Project in Minnesota, USA, flowed North America’s highest concentration of helium at 14.5%. Commercially viable helium project concentrations begin @ 0.3%.
