VANCOUVER BC / ACCESSWIRE / March 14, 2024 / Pulsar Helium Inc. (TSXV:PLSR) ("Pulsar" or the "Company") is pleased to announce that on March 13th, it received the analytical laboratory results for gas samples from the Jetstream #1 appraisal well* at the Topaz helium project in Minnesota. A total of eleven samples were analysed, four at Isotech Laboratories, Inc (Isotech) and seven at Smart Gas Sciences LLC (Smart Gas). Helium contents of up to 13.8% were measured, specifically from a sample obtained at 1,801ft in-hole depth. The full suite of gas data was sent to Dr Peter Barry, a noble gas isotope geochemist and Associate Scientist (an advisor to the Company) at the Woods Hole Oceanographic Institution (WHOI). He concluded that the value of 13.8% helium represents a minimum source estimate for helium, due to the clear presence of small amounts of atmospheric (air) contamination in the samples. The presence of this contamination decreases the measured helium content relative to the true source helium concentration.
Cliff Cain, CEO of the Edelgas Group (an international gas advisor firm that is engaged by Pulsar) commented:
"Comparing this to our extensive database for helium occurrences around the world, we are pleased to say the results from the Jetstream #1 appraisal well are the highest helium concentrations that we have ever seen. This marks an important milestone for Pulsar and we are delighted with such a positive outcome for our client."
The Jetstream #1 appraisal well reached total depth (TD) of 2,200 feet (671 meters), and on February 29th, the Company announced concentrations of up to 12.4% helium measured by the on-site quadrupole mass spectrometer. Additional samples were collected at depth while drilling, stored in Isotube gas canisters and then sent to Isotech and Smart Gas for laboratory-based gas chemistry analysis. The revised helium content of 13.8% is considered more reliable and more accurate than those obtained via the on-site quadrupole mass spectrometer.
Update on down-hole wireline logging data
Baker Hughes acquired the down-hole wireline logging data on February 29th and the Company awaits the petrophysical interpretation from a third-party petrophysicist. Results will be shared via news release on completion.
Update on flow-testing and pressure build up program
Due to abnormally high winter temperatures and the earlier than anticipated onset of Spring Load Restrictions on local road systems, the well testing package that includes flow testing, a pressure build-up program, and the collection of pressurised gas samples for laboratory analysis is delayed until mandated road conditions allow heavy traffic to return.
* In the State of Minnesota, the regulatory term is ‘exploratory boring'.
About Pulsar Helium Inc.
Pulsar Helium Inc. is listed on the TSX Venture Exchange with the ticker PLSR. It is dedicated to defining and developing primary helium assets. Its portfolio consists of the Topaz helium project in Minnesota, USA and the Tunu helium project in Greenland. Pulsar is the first mover in both locations with primary helium occurrences identified at each. Topaz is the Company's flagship, having been drilled and flowing a remarkably high helium concentration of 10.5%. For further information visit https://pulsarhelium.com and follow us on X https://twitter.com/pulsarhelium?lang=en and LinkedIn https://ca.linkedin.com/company/pulsar-helium-inc.
On behalf Pulsar Helium Inc.
"Thomas Abraham-James"
President, CEO and Director
Further Information:
Thomas Abraham-James President,
CEO and Director Pulsar Helium Inc.
[email protected]
+ 1 (604) 599-0310
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to the Company's current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated", "intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook") are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. In particular and without limitation, this news release contains forward-looking statements pertaining to the anticipated results of Jetstream #1 with regard to estimating the size of the reservoir intercepted; the results of the flow testing and pressure build-up program and collect pressurised gas samples to determine the concentration of the helium and other gases via an independent laboratory. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release.
Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond the Company's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward- looking statements. Such risks and uncertainties include, but are not limited to Pulsar may be unsuccessful in drilling commercially productive wells; drill costs may be higher than estimates; delays in the commencement of drilling, and other factors set forth under "Cautionary Note Regarding Forward-Looking Statements and Market and Industry Data" and "Risk Factors" in the Final Prospectus. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
SOURCE: Pulsar Helium Inc.