VANCOUVER, BC / ACCESSWIRE / October 10, 2023 / Pulsar Helium Inc. (TSXV:PLSR)(FRA:Y3K) ("Pulsar" or the "Company") is pleased to announce that it has signed a lease with a private mineral rights holder to expand the area of the Company's Topaz helium project in Minnesota, USA. In addition, the ambient noise tomography (ANT) survey has successfully concluded with all nodes retrieved and data downloaded.
The additional mineral rights are within a 6.2 mile (10 kilometre) radius of the Topaz discovery that was drilled and flowed a concentration of 10.5% helium. The lease is for privately held mineral rights covering a total of 2,840 gross acres (1,049 net acres), over 75 parcels. The lease is for an initial term of 20 years (extendable up to a maximum of 40 years, subject to conditions) with a payment on signing of U$11,000 and a retained production royalty of 3%. The lease gives Pulsar exclusive rights to non-hydrocarbon gases. The mineral rights are adjacent to Pulsar's existing parcels and are considered high-priority with significant potential for hosting helium accumulations.
The ANT survey has been successfully completed with a total of 183 nodes retrieved from the Topaz helium project. ANT is commonly referred to as passive seismic as the technology utilises passive, naturally occurring seismic waves to record data on features in the subsurface. The data has been downloaded and sent to Sisprobe for processing, interpretation and final reporting, with deliverables due in approximately 4 weeks. The survey is expected to further de-risk the drilling program and improve Pulsar's understanding of the extent of the resource.
About the Topaz helium project:
As announced September 25, 2023, the Jetstream #1 appraisal well is scheduled to commence on December 10th and is planned to be drilled to a vertical depth of 2,200 feet (671 metres), with the collar location anticipated to be within 65 feet (20 metres) of the original discovery well, LOD-6, that flowed 10.5% helium. During drilling, a gas chromatograph and mass spectrometer will be on location to provide real-time gas composition measurements including helium concentration. Permits from Federal, State, and Local Government entities required for drilling activities are in place. 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.
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, follow us on X (formerly known as Twitter) https://twitter.com/pulsarhelium?lang=en and LinkedIn 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
+ 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.
SOURCE: Pulsar Helium Inc.
View source version on accesswire.com:
https://www.accesswire.com/791365/pulsar-signs-lease-for-additional-mineral-rights-and-completes-seismic-survey-at-the-topaz-helium-project-usa
