3rd Feb 2025 14:28
(Alliance News) - Pulsar Helium Inc on Monday said it has successfully completed drilling the Jetstream #2 appraisal well at its Topaz Project in Minnesota, with "promising" helium concentrations encountered over a substantial interval.
The Vancouver-based helium exploration company said the well reached its total depth of 5,638 feet on February 1, penetrating the entire interpreted helium-bearing zone.
Elevated helium values were recorded over a gross vertical thickness of 3,178 feet, with gas samples showing up to 3.5% helium despite dilution from the rotary air drilling method.
Chief Executive Officer Thomas Abraham-James said: "Drilling of the Jetstream #2 appraisal well and deepening of Jetstream #1 is now complete, both of which were a resounding success with multiple high-concentration helium shows encountered.
"The newly identified gas shows and highly encouraging helium readings give us great confidence for this being the most significant new primary helium discovery in North America. We now move into the all-important testing phase and I look forward to keeping the market updated with results as they arrive."
The company said additional testing, including optical televiewer and high-definition spectroscopy, will be conducted in February, followed by pressure and flow testing in March.
Shares in Pulsar Helium were down 3.4% at 25.60 pence in London on Monday afternoon.
By Eva Castanedo, Alliance News reporter
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