Topaz Project, USA

100% owned by Pulsar

One of the world's highest-content helium occurrences, having been drilled and flowed 10.5% helium.

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About the project

Topaz is located in Minnesota, Midwest USA and is a new helium discovery in a new helium province where Pulsar is the first mover. It has been drilled and flowed 10.5% helium, with only trace hydrocarbons present.

Drilled in 2011, helium-rich gas was intersected by chance (was mineral exploration borehole)
An appraisal well is scheduled to be drilled nearby to the 2011 discovery in Q1 2024

Location

Topaz is located in the state of Minnesota, 100km north of Duluth -a regional center supporting the vast iron ore mines of North America. Access is via both existing road network, and the Great Lakes.

Latitude
47° 38' 05'' N
Longitude
91° 42' 03'' W

Mineral Rights

he Topaz Project is located on private mineral rights for which Pulsar has an exclusive lease. In addition, the Company has an exclusive option for additional privately held mineral rights within the vicinity of the discovery well.

Local Expansion

Further applications have been submitted with the Federal and State Governments for additional areas of interest.

Advantages of the location

Excellent Location

Infrastructure, including nearby power and access roads already exist, key requirements for production and distribution.

Positive Flow-rate

Field measurements report gas velocity of 150km/hr, and shut-in surface pressure of 13,000 hPa. Gas flowed for 4-5 days with no apparent reduction in pressure.

Strong Demand

The USA is the world’s largest consumer of helium - delivery into the market would, therefore, be instantaneous.

Proposed 2023 work program

The immediate plan involves conducting an appraisal well drilling in the fourth quarter of 2023 and performing specialized down-hole tests to assess the properties of the helium reservoir. Subsequently, the objective is to accelerate the exploration process and initiate a feasibility study to evaluate the potential for Topaz to become a profitable helium producer.

Geology

The geology of the discovery area includes some of the oldest rocks in North America, suggesting excellent helium source rock. The stable tectonic conditions prevailing over the last billion years in the Topaz area may have allowed significant helium volumes to accumulate.

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