RCS - Pulsar Helium Inc. - Pulsar Announces Positive Seismic Survey Results
05/12/2023 13:15
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RNS Number : 6266V Pulsar Helium Inc. 05 December 2023
NEWS RELEASE | DECEMBER 5, 2023 | VANCOUVER BC
PULSAR ANNOUNCES: POSITIVE SEISMIC SURVEY RESULTS SET THE STAGE FOR UPCOMING
APPRAISAL WELL
Pulsar Helium Inc. (TSXV:PLSR & FRA:Y3K) ("Pulsar" or the "Company") is
pleased to announce that processing of the passive seismic survey at the
Company's wholly owned Topaz helium project in Minnesota, is complete.
A significant and distinct shear wave velocity anomaly (velocity decrease) has
been identified at the same depth (542 metres) where gas containing 10.5%
helium was encountered in the LOD-6 discovery well. This dataset provides
crucial, high-fidelity comprehension in relation to the gas reservoir geometry
and potential size, substantiating existing findings.
This velocity anomaly is interpreted to represent the lithology which hosts
the helium-bearing gas reservoir(s). The velocity anomaly persists to a depth
of approximately 1,150 metres, giving it a vertical thickness of approximately
600 metres and covers an aerial extent of ~7 square kilometres. The vertical
thickness of the velocity anomaly increases to the north-east to ~1km and is
connected to another velocity decrease which dips and broadens towards the
west, both directions remain open with their extent limited to that of the
passive seismic survey array.
Above the LOD-6 gas discovery depth are flat lying geologic units with high
shear wave velocity that are laterally continuous across the passive seismic
survey area. The Company has access to the LOD-6 well drill core which has
been re-logged and confirmed that these high shear wave velocity units consist
of igneous rocks that are typically impermeable with exceptional gas sealing
potential.
The appraisal well, named Jetstream#1, is scheduled for February 2024, and
will be drilled within approximately 20 metres of the LOD-6 discovery well
that flowed 10.5% helium. The well is designed to penetrate deeper than the
542 metre discovery depth with the objectives of re-entering and evaluating
the gas zone, and determining whether any additional deeper reservoirs are
present. All permits are in place for the appraisal well, the rig contract
signed, and all site works completed.
The passive seismic survey observations are highly encouraging and validate
its use to locate gas reservoir and cap rock lithologies within the Topaz
helium project geological setting. The passive seismic data is now being
interpreted in conjunction with FALCON gravity gradient and magnetic data that
Pulsar acquired in 2022. Further updates will be provided in due course.
Passive seismic, formally referred to as ambient noise tomography (ANT), is a
cost effective and non-invasive geophysical method employing background
seismic noise, generated by human activities or natural sources, to generate
3D maps of subsurface structures. Through analyzing the variations in ambient
noise propagation, geoscientists can measure details about the velocity and
properties of geological bodies.
Pulsar's President & CEO, Thomas Abraham-James commented:
"The results of the passive seismic survey exceed our expectations. To see the
velocity contrast at the depth where the discovery well intersected gas with
10.5% helium content is simply ideal. We are also buoyed by the vertical
thickness of the interpreted reservoir host lithology and it being laterally
continuous. This suggests that we are looking at a reservoir with the
potential for regional scale. The team and I are now focused on successfully
executing the appraisal well drilling program."
About Pulsar Helium Inc.
Pulsar Helium Inc. is a publicly traded company listed on the TSX Venture
Exchange with the ticker PLSR. Pulsar's 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 not
associated with the production of hydrocarbons identified at each. For
further information visit https://pulsarhelium.com (https://pulsarhelium.com)
, 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
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