With the acquisition of Hybrid Hydrogen and thus a new helium land package in Michigan, Pulsar Helium is further expanding its position as a leading helium explorer in the US Upper Midwest – while maintaining its focus on the Topaz project in Minnesota.
Pulsar Helium Secures Helium Rights in Michigan
Pulsar Helium (AIM/TSXV: PLSR / WKN A3EP2C) has acquired 100% of the shares in Hybrid Hydrogen Inc. The core asset of the transaction is an exclusive option to lease mineral rights for non-hydrocarbon gases – primarily helium – over approximately ~23.24 square kilometres in northern Michigan.
The purchase price of just US$80,000 was paid entirely in cash and replaces a previously announced share-based transaction. This gives Pulsar a cost-effective entry into a new exploration region without significantly straining its cash reserves or shifting focus away from its flagship Topaz project in Minnesota.
The properties are located in Michigan’s Upper Peninsula, an area with an established gas regulatory framework that is increasingly being applied to helium projects, too. For Pulsar Helium, this is the first step into this US state and part of the strategy to systematically expand the company’s presence in the Upper Midwest of the United States.
CEO Thomas Abraham-James described the acquisition as an “extremely cost-effective” portfolio expansion: the geology of the acquired land is very similar to that of the main Topaz project, which means that the team’s existing expertise can be put to immediate use.
Strategic Logic: Utilizing Geological Parallels to Topaz
The newly acquired helium rights in Michigan are located in a geological environment similar to Pulsar Helium’s Topaz project in Minnesota. Both regions are located in ancient sedimentary basins underlain by crystalline basement rocks.
In these granites, helium is generated by the decay of uranium and thorium. The gas can rise along faults and pore spaces into overlying sedimentary rocks, where it accumulates in porous reservoir horizons beneath dense cap rocks.
Pulsar has built up experience in Minnesota in mapping the flow paths of helium, modelling underground structures and identifying traps and seals. It now wants to transfer this expertise to the Michigan areas in order to limit the exploration risk.
The board of Pulsar Helium therefore sees the expansion into geologically familiar regions as a logical addition to the existing project pipeline.
Topaz Remains Pulsar Helium’s Flagship Project
Despite the expansion into Michigan, Topaz remains Pulsar’s flagship project. The property in northern Minnesota is considered a primary helium discovery, where the gas is not produced as a by-product of natural gas, but occurs in a unique system containing helium-4, helium-3 and CO₂.
Multiple wells have confirmed a laterally continuous, helium-rich gas reservoir beneath the project areas. During production testing at Jetstream #1 and Jetstream #2 wells, average helium concentrations of approximately 8.1% (Jetstream #1) and 5.6% (Jetstream #2) were measured – significantly higher than the 0.3% helium concentrations widely considered to be commercially viable.
In addition, the rare isotope helium-3 was also detected in samples from Jetstream #1. This highly specialised gas is used in research and high-tech applications, among other things, which could give the project an additional dimension.
Topaz is currently conducting an appraisal drilling programme with the aim of more accurately determining the extent, pressure conditions and gas composition of the reservoir. Based on this, the next steps will be to develop resource estimates and scenarios for possible development planning.
