CASCAIS, Portugal, Aug. 13, 2024 (GLOBE NEWSWIRE) —
Pulsar Helium Inc. (TSXV:PLSR & OTCQB:PSRHF) (“Pulsar” or the “Company”), provides an operational update for its Topaz project in Minnesota, and Tunu project in Greenland. At Topaz, acquisition of a 20.4km (12.7 mile) long 2D seismic line has commenced, and at Tunu the passive seismic survey is underway.
Topaz
Data acquisition for the 20.4km (12.7 mile) 2D seismic survey began on August 8th at the Topaz project in Minnesota, USA. The 2D seismic line was commissioned after the successful seismic sweep survey (refer to Pulsar news release dated July 9, 2024) that identified a seismic reflector at a depth coincident with the helium-bearing zone encountered in Jetstream #1 and as a result demonstrating that this method is an efficient exploration tool. The 2D seismic survey acquisition is expected to complete mid-August, which will then undergo processing and interpretation.
The 2D seismic line is expected to provide high-resolution structural data and will be used to complement and update the current subsurface 3D model. The survey utilises existing road access, in a nominal E-W orientation, and passes within 460 metres (1,509 feet) to the south of the Jetstream #1 appraisal well. The combination of this data with the existing dataset will be used to assist the placement of step out appraisal wells from Jetstream #1.
The updated Topaz resource estimation being conducted by Sproule International Ltd is near completion and anticipated to be received in August.
Tunu
Field activities are underway for the 2024 field season at the Tunu project, Greenland. The first array of passive seismic survey nodes was deployed on August 6th, at the Kap Tobin prospect in the south of the licence area. A total of three passive seismic arrays are planned and anticipated to be completed in September and then sent for processing and interpretation. The passive seismic survey will provide the first sub-surface dataset for the Tunu project.
Migratory primary helium (not associated with hydrocarbons) was identified by the Company at Kap Tobin, in addition to a potential geothermal heat source. There are multiple un-tested hot springs within the project area that provide a favourable sample medium for gases from depth, emanating at surface.
Passive seismic, formally referred to as ambient noise tomography, 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 3D velocity variation and properties of geological bodies.
About Pulsar Helium Inc.
Pulsar Helium Inc. is a publicly traded company listed on the TSX Venture Exchange with the ticker PLSR and on the OTCQB with the ticker PSRHF. Pulsar’s portfolio consists of its flagship Topaz helium project in Minnesota, USA, that has been drilled and flowed up to 14.5% helium, 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 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.
This news release includes certain statements that may be deemed to be forward-looking information under applicable Canadian securities legislation (together, the “forward-looking statements”) that relate to the Company’s current expectations and view 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 “believe”, “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “potential” and similar expressions) are not historical facts and may be forward-looking statements. Forward-looking statements herein include, but are not limited to, statements relating to the timing of completion of the 2D seismic line at Topaz; the expected number of passive seismic arrays at Tunu and the expected timing of completion of such seismic arrays; and the anticipated timing of receipt of the updated resource estimate at Topaz. Forward-looking statements are necessarily based on estimates and assumptions made by management of the Company in light of our experience and perception of historical trends, current conditions and expected future developments, as well as the factors we believe are appropriate. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. Accordingly, investors should not place undue reliance on forward-looking statements. Forward-looking statements contained in this news release are as of the date of this news release and, other than as required under applicable securities legislation, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Please see the public filings of the Company at www.sedarplus.ca for further information.
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