Mr. Thomas Abraham-James reports
PULSAR SIGNS DRILL RIG CONTRACT FOR APPRAISAL WELL AT THE TOPAZ HELIUM PROJECT
Pulsar Helium Inc. has signed a contract with Capstar Drilling Inc. for the provision of drilling services at the Topaz helium project in Minnesota, United States.
Capstar will provide rig #314, a 6000 Elenburg Manufacturing trailer-mounted drilling rig to drill the appraisal well at Topaz. The program is for one well, with the option to drill a second at the Company's discretion. The appraisal well is to be named Jetstream #1 and is scheduled to commence on, or about December 10, 2023.
Jetstream #1 will be drilled to a vertical depth of 2,200 feet (671 meters) and the collar location is anticipated to be within 65 feet (20 meters) of the original discovery well, LOD-6, that flowed 10.5% helium. The hole will be rigged up with a 3000 PSI blowout preventor and the well will be drilled with an 8.5" polycrystalline diamond compact (PDC) bit to intermediate casing depth. Following the intermediate casing run, the reservoir interval will be drilled with a 6.25" PDC bit to total depth (TD). During drilling, a gas chromatograph and mass spectrometer will be on location to provide real-time gas composition measurements including helium concentration. On reaching TD, an open-hole logging suite will be acquired to evaluate the reservoir zone for the next phase of evaluation.
Permits from Federal, State, and Local Government entities required for drilling activities are in place with final approval having been granted in early September. Preliminary civil works were conducted in March and final access and drill-site civil works are expected be completed by mid-November. The drill location is on private mineral rights for which Pulsar has an exclusive lease for non-hydrocarbon gases, in addition, the Company has agreed upon terms to acquire the surface rights.
Pulsar's President & CEO, Thomas Abraham-James commented:
"The signing of the drilling contract for the appraisal well at our flagship Topaz helium project is a significant milestone. Now the countdown to realizing Topaz's potential begins. I am proud of our team's efforts to adhere to the aggressive work program we set ourselves, including the seismic survey which is currently underway. As a company that listed on the TSXV only last month, we will continue to provide consistent news flow for our investors."
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 (formerly known as Twitter) https://twitter.com/pulsarhelium?lang=en and LinkedIn https://ca.linkedin.com/company/pulsar-helium-inc.
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