t
Pulsar Helium Inc. announced on January 30, 2025, the successful completion and interpretation of a passive seismic survey at the Kap Tobin prospect within its Tunu Project in Greenland. Data collected in summer 2024 and interpreted in January 2025 identified two low velocity anomaly zones between 50-200 metres vertical depth, aligning with surface observations of a hydrothermal zone and fault associated with gas emissions containing up to 0.8% helium. The company additionally applied for an exclusive exploration licence in November 2024, which is showing approval status and will have an initial term of five years, replacing a licence due to expire on December 31, 2024.
| Date | 30 Jan 2025 |
| Time | 07:00:04 |
| Category | Miscellaneous |
| ID | 1878V |
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES OF AMERICA, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR TO BE TRANSMITTED, DISTRIBUTED TO, OR SENT BY, ANY NATIONAL OR RESIDENT OR CITIZEN OF ANY SUCH COUNTRIES OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION MAY CONTRAVENE LOCAL SECURITIES LAWS OR REGULATIONS.
NEWS RELEASE | JANUARY 30, 2025 | CASCAIS, PORTUGAL
PULSAR HELIUM ANNOUNCES SUCCESSFUL COMPLETION OF PASSIVE SEISMIC SURVEY AT THE TUNU PROJECT IN GREENLAND
Pulsar Helium Inc. (AIM: PLSR, TSXV: PLSR, OTCQB: PSRHF) ("Pulsar" or the "Company"), a leading helium project development company, is pleased to announce that it has received the interpretation of a passive seismic survey conducted at the Kap Tobin prospect within the Tunu Project, Greenland. The data was collected in the summer of 2024 and interpretation received this month, showing two main low velocity anomaly zones that fit surface observations of a hydrothermal zone and fault that is associated with gas emissions containing up to 0.8% helium between 50-200 metres vertical depth.
Key achievements:
• Successful Survey: 150 passive seismic sensors deployed at an average interstation distance of 100 metres.
• Promising Results: High quality data received, reliable between 50-200 metres vertical depth.
• Velocity Anomalies: Study reveals two low-velocity anomaly zones aligning with surface observations of a hydrothermal zone and a fault linked to gas emissions with up to 0.8% helium.
• Fractured Reservoir: Unexpectedly low velocities suggest the rock is more fractured than anticipated. This could aid helium exploration, as fractures provide spaces for the gas to accumulate and become trapped underground.
• Exploration Targets: Identified low-velocity zones offer clear targets for drilling exploratory wells for helium and potential associated geothermal energy production.
Thomas Abraham-James, President & CEO of Pulsar Helium, commented on the study: "The completion of this passive seismic survey at the Kap Tobin prospect in Greenland marks a significant milestone in our exploration efforts at the Tunu Project. The identified low velocity anomalies, coupled with our previous helium shows in the area, reinforce our confidence in the project's potential not only for helium, but also geothermal energy. These results provide valuable insights into the subsurface structure and will guide our future exploration and development strategies."
Strategic Significance
Helium is on the European Union (EU) list of critical raw materials and while not an EU member, Greenland is a strategic partner to the critical raw materials initiative. Potential for a combined helium and geothermal energy operation has been identified and is being assessed for commercial production. Geothermal energy could be utilised for the helium production facility and as an alternative power source for the nearby settlement of Ittoqqortoormiit (located 7.5km to the north of Kap Tobin) which currently relies on diesel generators. Meanwhile produced helium could be exported to the EU.
Reservoir Potential
The survey has revealed promising indications of potential helium-bearing reservoirs. The two identified main NNE-SSW low velocity anomaly zones correlate with surface observations of hydrothermal activity and faulting. These features could potentially indicate pathways for helium migration and accumulation.
Kap Tobin Summary
The Kap Tobin prospect located within the Company's Tunu Project in Liverpool Land, East Greenland, and is 7.5km south of the settlement of Ittoqqortoormiit. Previous sampling of hot springs at Kap Tobin in 2022 revealed helium concentrations between 0.36-0.82%, determined using different methods in three independent laboratories. The remainder of the gas is mostly nitrogen, which is an inert gas that makes up the majority of Earth's atmosphere. Additional geothermal studies by academic institutions suggest a reservoir temperature of at least 80°C, with some models indicating temperatures up to 110°C.
Next Steps
Pulsar will integrate these passive seismic results with existing geological and geochemical data to refine its exploration model and identify optimal locations for future drilling. Given the positive results to date, the Company is assessing potential strategic partners to advance the Tunu Project while it focuses on realising the helium production potential at its Topaz Project in Minnesota, USA.
The Tunu Project Mineral Exploration Licence
The Tunu Project comprises exclusive Special Mineral Exploration Licence 2021-45 (MEL-S 2021/45) and a Non-Exclusive Mineral Prospecting Licence. In accordance with the 'Application procedures and standard terms for mineral exploration and prospecting licences in Greenland', in November 2024 the Company applied for an exclusive exploration licence on normal terms for part of the licence area that contains the Kap Tobin prospect. The application is now showing approval status on the Greenland registry, and the Company expects to receive formal confirmation shortly. This licence will replace MEL-S 2021/45 that was due to expire on 31 December 2024 and will have an initial term of five years, which is extendable, subject to meeting certain conditions, to a maximum term of 22 years.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
On behalf Pulsar Helium Inc.
"Thomas Abraham-James"
President, CEO and Director
Further Information:
Pulsar Helium Inc.
+ 1 (218) 203-5301
+44 (0) 2033 55 9889
Strand Hanson Limited
(Nominated & Financial Adviser, and Joint Broker)
Ritchie Balmer / Rob Patrick / Richard Johnson
+44 (0) 207 409 3494
OAK Securities*
(Joint Broker)
Jerry Keen (Corporate Broking) / Henry Clarke (Institutional Sales) / Dillon Anadkat (Corporate Advisory)
+44 203 973 3678
BlytheRay Ltd
(Financial PR)
Megan Ray / Said Izagaren
+44 207 138 3204
*OAK Securities is the trading name of Merlin Partners LLP, a firm incorporated in the United Kingdom and regulated by the UK Financial Conduct Authority.
About Pulsar Helium Inc.
Pulsar Helium Inc. is a publicly traded company listed on the AIM market of the London Stock Exchange and the TSX Venture Exchange with the ticker PLSR, as well as on the OTCQB with the ticker PSRHF. Pulsar's portfolio consists of its flagship 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.
Qualified Person Sign-off
In accordance with the AIM Note for Mining and Oil and Gas Companies, the Company discloses that Thomas Abraham-James, President, CEO and Director of the Company has reviewed the technical information contained herein. Mr. Abraham-James has approximately 20 years in the mineral exploration industry, is a Chartered Professional Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM CP (Geo)), a Fellow of the Society of Economic Geologists and a Fellow of the Geological Society of London.
For further information visit:
LinkedIn https://ca.linkedin.com/company/pulsar-helium-inc
Neither the 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 and the interview contains 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. Forward-looking statements herein include, but are not limited to, statements relating to the potential impact for conducting geophysical surveys and drilling future wells at the Tunu Project. Forward-looking statements may involve estimates and are based upon assumptions made by management of the Company, including, but not limited to, the Company's capital cost estimates, management's expectations regarding the availability of capital to fund the Company's future capital and operating requirements and the ability to obtain all requisite regulatory approvals.
No reserves have been assigned in connection with the Company's property interests to date, given their early stage of development. The future value of the Company is therefore dependent on the success or otherwise of its activities, which are principally directed toward the future exploration, appraisal and development of its assets, and potential acquisition of property interests in the future. No un-risked Contingent and Prospective Helium Volumes have been defined at the Tunu Project. However, estimating helium volumes is subject to significant uncertainties associated with technical data and the interpretation of that data, future commodity prices, and development and operating costs. There can be no guarantee that the Company will successfully convert its helium volume to reserves and produce that estimated volume. Estimates may alter significantly or become more uncertain when new information becomes available due to for example, additional drilling or production tests over the life of field. As estimates change, development and production plans may also vary. Downward revision of helium volume estimates may adversely affect the Company's operational or financial performance.
Helium volume estimates are expressions of judgement based on knowledge, experience and industry practice. These estimates are imprecise and depend to some extent on interpretations, which may ultimately prove to be inaccurate and require adjustment or, even if valid when originally calculated, may alter significantly when new information or techniques become available. As further information becomes available through additional drilling and analysis the estimates are likely to change. Any adjustments to volume could affect the Company's exploration and development plans which may, in turn, affect the Company's performance. The process of estimating helium resources is complex and requires significant decisions and assumptions to be made in evaluating the reliability of available geological, geophysical, engineering, and economic date for each property. Different engineers may make different estimates of resources, cash flows, or other variables based on the same available data.
Forward-looking statements 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, that Pulsar may be unsuccessful in drilling commercially productive wells; the uncertainty of resource estimation; operational risks in conducting exploration, including that drill costs may be higher than estimates and the potential for delays in the commencement of drilling; commodity prices; health, safety and environmental factors; and other factors set forth above as well as under "Cautionary Note Regarding Forward Looking Statements and Market and Industry Data" and "Risk Factors" in the AIM Admission Document published on October 14, 2024 found on the Company's web site at https://pulsarhelium.com/investors/aim-rule-26/default.aspx.
Forward-looking statements contained in this news release are as of the date of this news release, and 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. No assurance can be given that the forward-looking statements herein will prove to be correct and, accordingly, investors should not place undue reliance on forward-looking statements. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.