Pulsar’s Topaz project report shows ‘significant’ helium potential

A technical report of Pulsar Helium’s Topaz project in Minnesota has confirmed that the acreage has both commercial concentrations of helium and carbon dioxide (CO2) with no significant environmental or logistical barriers to commercialisation.

Carried out by Sproule International, the report highlighted that one prospect of the Topaz project showed a 44% increase to the previous helium contingent best estimate gross recoverable resource.

A 12,165% increase to the helium prospective best estimate (2U) gross recoverable resource was also said to be noted in the report.

Thomas Abraham-James, President and CEO of Pulsar, said the positive estimations received are “hugely encouraging” ahead of further exploration, which the company has scheduled for Q4 2024.

“Data indicates that the well penetrated only the top of the helium-bearing fracture zone, which is likely to persist for a further 1,650ft (500m) vertical depth. Therefore, deepening of the Jetstream #1 well, scheduled for Q4 2024, is likely to have a significant impact on the next iteration of the resource estimation.

Contingent resources estimated in the 2024 Sproule report relates to one prospect within the Topaz project comprising acreage under Pulsar’s leases around Jetstream #1. The acreage of the prospective resources is under leases and exclusive options.

Read more: Pulsar Helium spuds Jetstream #1 appraisal well in Minnesota

The contingent and prospective resource acreage covered in the 2024 Sproule Report represents approximately 13% of the company’s gross land position that it has under lease and exclusive option.