Pulsar Helium, a Canadian firm focused on the Topaz helium gas deposit southwest of Babbitt, is optimistic about its exploration programme. The company has taken steps to expand its efforts, including signing a new contract for further drilling and actively increasing its lease holdings in the region.
According to Pulsar CEO Thomas Abraham-James, the Topaz Project has the potential for significant scalability. As part of the company’s growth strategy, they are securing key land positions. Abraham-James expressed satisfaction with recent developments, noting that Pulsar has almost doubled its net acreage. He emphasised that the company is now targeting additional land acquisitions, driven by clear geological data.
The announcement on 2 October about the expansion of Pulsar’s land holdings coincided with the release of a resource evaluation report by Sproule, a reservoir engineering firm. This report supports the estimated regional presence of helium gas, which has encouraged Pulsar to pursue further acreage acquisitions to gain district-wide control over what they see as an emerging regional helium reservoir.
Additionally, on 1 October, Pulsar confirmed the signing of a new drilling contract with Capstar Drilling. The contract involves deepening the Jetstream No. 1 well by an additional 500 metres (1,640 feet), with the possibility of drilling further step-out wells. Abraham-James commented that this contract is another step forward in commercialising the Topaz helium project in Minnesota. He expects that deepening the well will enhance the economic viability of the project and confirm the potential of the reservoir on a district scale.
The CEO also noted that the timing is favourable for Pulsar as the focus on mineral security and safe resource development in secure jurisdictions is increasingly influencing investor decisions. He highlighted the strong political support in Minnesota, where there is recognition of the statewide benefits that the Topaz project could bring.
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%.
