RCS - Pulsar Helium Inc. - Pulsar Commencement of Appraisal Well at Topaz
19/01/2024 12:00
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RNS Number : 2198A Pulsar Helium Inc. 19 January 2024
NEWS RELEASE | JANUARY 19, 2024 | VANCOUVER BC
PULSAR HAS DATE FOR COMMENCEMENT OF APPRAISAL WELL AT THE TOPAZ HELIUM PROJECT
Pulsar Helium Inc. (TSXV:PLSR & FRA:Y3K) ("Pulsar" or the "Company") is
pleased to announce that drilling the Jetstream #1 appraisal well at the Topaz
helium project is anticipated to commence on February 2nd, 2024. Drilling is
anticipated to be completed within one month with flow testing to commence
immediately following demobilisation.
Capstar will provide a 6000 Elenburg Manufacturing trailer-mounted drilling
rig to drill the Jetstream #1 appraisal well at Topaz. Mobilization is
anticipated to be completed by January 28th with drilling to commence on
February 2nd. All required permits have been received and site preparation
complete.
Jetstream #1 will be drilled to a depth of 686m (2,250ft) with contingency in
place to extend to 762m (2,500ft). A mass spectrometer will be onsite
providing gas composition every 100 seconds with gas samples to be collected
when zones of helium gas response are encountered. Upon reaching total
depth, a comprehensive suite of open hole wireline logs will be acquired by
Baker Hughes. Following the wireline data acquisition, the well will be
completed and the rig will be released and demobilised. A well testing package
will then mobilise and rig up on the Jetstream #1 well and execute a flow
testing and pressure build-up program, and collect pressurised gas sample
data.
In addition, Pulsar is a recipient of the Iron Range Resource and
Rehabilitation Board (IRRRB) grant of USD$20,000 to offset the cost of the
Jetstream #1 appraisal well.
Pulsar's President & CEO, Thomas Abraham-James commented:
"The drilling of the Jetstream #1 appraisal well at our Topaz helium project
is imminent and all preparation is complete. This is a pivotal moment for
Pulsar."
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
(https://pulsarhelium.com) and follow us on X (formerly known as Twitter)
https://twitter.com/pulsarhelium?lang=en
(https://twitter.com/pulsarhelium?lang=en) and LinkedIn
https://ca.linkedin.com/company/pulsar-helium-inc
(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.
connect@pulsarhelium.com (mailto:connect@pulsarhelium.com)
+ 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 drill date of Jetstream #1, the cost to drill Jetstream #1
may be higher than expected, the prospective nature of the Topaz area,
achievement of the Company's business objectives going forward and other
statements that are not historical facts. 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.
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