How Is Pulsar Helium Expanding Insights into Minnesota's Helium Reservoir?

Highlights

• Jetstream #1 at Pulsar Helium's Topaz Project in Minnesota reached a depth of 5,100 feet, exceeding expectations and penetrating the helium-bearing reservoir.
• Multiple helium zones were identified between 2,200 and 5,100 feet, with helium concentrations reaching up to 7.24% during drilling.
• Preparations are underway for Jetstream #2, with spudding anticipated around January 17, 2025.

The helium extraction sector plays a pivotal role in supplying helium, a critical resource for various high-tech industries. Helium is essential for technologies in sectors such as healthcare, aerospace, and research, where it is used in MRI machines, rocket propulsion systems, and scientific equipment. The scarcity of helium in recent years has elevated the significance of helium exploration and production projects worldwide. Pulsar Helium is strategically positioned within this sector, focusing on its Topaz Project in Minnesota to meet the growing global demand for this vital resource.

Jetstream #1 Deepening Milestone

On January 11, 2025, Pulsar Helium (TSXV:PLSR) successfully deepened the Jetstream #1 well at the Topaz Project to a depth of 5,100 feet. This milestone marks a significant achievement, as the well has now fully penetrated the interpreted helium-bearing reservoir. The deepening operation was designed to provide further insights into the potential of the region's helium deposits.

Throughout the drilling process, multiple helium zones were encountered between the depths of 2,200 and 5,100 feet. The presence of helium across this extensive range suggests the possibility of a larger, more extensive reservoir than initially anticipated. Mud log gas levels during drilling revealed helium concentrations as high as 7.24%. These gas readings, although diluted by atmospheric air due to the rotary air drilling method, point to promising helium concentrations. Unaffected samples will be taken for laboratory analysis to provide more precise measurements.

Data Collection Efforts

The collection of comprehensive data is a key component of this phase of the project. Down-hole wireline logging data was acquired from January 11 to 12, 2025. This data is critical for assessing the characteristics of the helium reservoir, including its size, pressure, and flow potential. In addition to the wireline logging, further data collection efforts will include the deployment of optical televiewers, which will provide high-resolution imaging of the wellbore, and the performance of pressure and flow tests to assess the reservoir’s behavior under different conditions.

The gathered data will be integrated and analyzed over the coming weeks to build a more accurate geological model of the helium-bearing zones. This information will be crucial for optimizing future drilling and extraction operations and confirming the potential of the Topaz Project.

Transition to Jetstream #2

Following the success of the Jetstream #1 well deepening, the drill rig has now been moved to the Jetstream #2 pad. Spudding of Jetstream #2 is expected to commence around January 17, 2025. The focus of this new phase will be to explore additional helium zones in the region and further evaluate the Topaz Project's potential.

Preparations for Jetstream #2 have been ongoing, with the team ready to apply the insights gained from Jetstream #1 to refine drilling strategies. The successful completion of Jetstream #2 will provide more data for assessing the broader potential of the project, particularly in terms of the volume and quality of helium resources that may be present across the region.

These ongoing efforts at the Topaz Project are expected to play a critical role in advancing helium exploration in North America, contributing to the supply chain of this valuable resource for industries across the globe.