Pulsar Helium Inc. is expanding its efforts to explore helium deposits near Babbitt, Minnesota, after discovering a significant source earlier this year. New testing on a 12.7-mile seismic line has started, aimed at confirming the scale of what the company believes could be a world-class helium deposit. This data will guide the placement of future appraisal wells as Pulsar Helium moves towards a potential production phase. The company is confident as it approaches the release of a resource estimate, which is expected to highlight the extent and potential of the Topaz project.
Last December, Pulsar Helium drilled a 2,200-foot-deep well on private land near Babbitt and found helium flowing freely. The well, dubbed Jetstream #1, yielded an impressive 821,000 cubic feet of helium per day, with concentrations ranging from 8.7% to 14.5%. Located just 50 feet from a previous exploratory well drilled by Duluth Metals in 2011, which unexpectedly struck helium, this new well is being hailed as a top-tier helium discovery on the global stage.
Helium is an essential component in a wide range of industries, including medical imaging, electronics, and nuclear reactors. Pulsar Helium’s findings could potentially lead to commercial production in the area. There’s also a possibility that some of the helium deposit lies beneath public land. Anticipating this, the 2024 Minnesota Legislature has already established rules for hydrocarbon extraction, including helium, on public lands. Commercial production from public lands could provide financial benefits to local communities and schools.
Helium, which is created through the radioactive decay of elements like uranium and thorium, is found in the Duluth Complex. This region of northeastern Minnesota is also known for its rich deposits of copper, nickel, cobalt, and platinum group metals. In addition to its Minnesota project, Pulsar Helium is conducting a seismic survey for another project in Greenland. The company, headquartered in British Columbia, Canada, continues its global search for helium as demand for the gas grows in various industries.
The outcome of these exploratory efforts could lead to significant economic and industrial developments, especially if commercial production becomes a reality.
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%.
