Pulsar Helium Inc (PSRHF)

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Pulsar Receives Laboratory Results for the Jetstream #1 Appraisal Well at the Topaz Project
Pulsar Helium Inc.
Thu, Mar 14, 2024, 6:00 AM EDT

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.

https://finance.yahoo.com/news/pulsar-receives-laboratory-results-jetstream-100000800.html