Pulsar Helium Inc. - Projects

The Topaz Project, Minnesota, USA (100% owned)

Topaz is a primary helium discovery in a new helium province where Pulsar has a first mover advantage. The completed Jetstream #1 appraisal well confirmed one of the world's highest-content helium discoveries, flowing up to 14.5% helium. Grades of >0.3% are often considered economic. The gas flowed naturally to the surface under pressure and was not associated with water, which is beneficial, if water is present it can be problematic environmentally and for processing. Rapid pressure rebound suggests a large gas accumulation. A development plan is now being implemented to evaluate full production potential.

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About the project

Topaz is located in Minnesota, Midwest USA and is a new helium discovery in a new helium province where Pulsar is the first mover. It has been drilled and flowed up to 14.5% helium, with only trace hydrocarbons present.

Drilled in 2011, helium-rich gas was intersected by chance while exploring for nickel

The Jetstream #1 appraisal well has been completed and flowed up to 14.5% helium.

Location

Topaz is located in the state of Minnesota, 100km north of the regional centre of Duluth. The project has excellent infrastructure, road access, local services, grid power, and an available highly skilled workforce. The area understands resource development with 150 years of resource extraction and is within 8 miles of one of North America’s largest iron ore mines. The State of Minnesota is currently in a rule-making process to enable helium and hydrogen production.

The coordinates are:

Latitude 47° 38' 05'' N

Longitude 91° 42' 03'' W

Mineral Rights

Topaz is located on private mineral rights for which Pulsar has exclusive leases. Further application has been submitted with the State for additional areas of interest to provide Pulsar with district scale control.

2024 work program

The Jetstream #1 appraisal well produced highly positive results from wireline logging, flow and pressure testing. As a result, Pulsar is now planning to deepen Jetstream by an additional 700m, as well as drill two step out wells within a 5km radius to substantiate liquid helium production. In addition, further seismic surveys will be conducted to add to the interpretation from a high-resolution airborne gravity survey.

Geology

The geology of the discovery area includes some of the oldest rocks in North America, suggesting excellent helium source rock. The stable tectonic conditions prevailing over the last billion years in the Topaz area may have allowed significant helium volumes to accumulate.

High Concentration

Exceptional helium grade with potential low OPEX.

Short Roadmap

Short path to production.

High Value

Two products to be monetised being helium and CO2.

Excellent Location

Good accessibility with skilled workforce and existing infrastructure.

First Mover

Pulsar has a significant advantage in a new helium location.

Supportive Legislation

New legislation for helium project development to benefit the Topaz project.

Topaz