Pulsar Helium Inc. (PLSR) has commenced drilling at the Jetstream #2 appraisal well at its flagship Topaz project in Minnesota.
The well will go to a depth of approximately 5,000 feet and is scheduled to be completed around the end of January 2025.
This will be the second gas appraisal well drilled at the Jetstream prospect on Topaz, and is designed to provide data on reservoir properties, including porosity, permeability and well connectivity.
This information will be utilised in the next iteration of resource estimation, production modelling, and further appraisal well planning.
Upon completion of drilling the Jetstream #2 well down-hole wireline logs will be collected, and an optical televiewer run at both Jetstream #1 and #2. Flow testing and pressure build-up monitoring are planned for both wells in early March, following a post-drill stabilisation period.
The drilling of Jetstream #2 follows the deepening of the Jetstream #1 appraisal well, completed earlier this month. Mud log gas levels containing up to 7.24% helium were encountered during drilling that drilling. These samples are diluted by atmospheric air due to the rotary air drilling method used and unaffected samples for laboratory analysis will be acquired in due course.
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Last year, Jetstream #1 reached a depth of 2,200 feet and identified top-tier helium concentrations of up to 14.5%, well above the 0.3% widely accepted economic threshold. It also encountered CO2 concentrations exceeding 70%, which ought to enhance project economics. The deepening of Jetstream #1 has further enhanced the prospectivity of Topaz and, combined with the upcoming results from Jetstream #2 ought to move the company closer to production. The pace of work is encouraging, so watch this space for more news come the end of January.