Tunu is one of very few primary helium deposits in Europe
Canadian helium company Pulsar Helium Inc (TSXV:PLSR, FRA:Y3K) not only owns its flagship Topaz project in the US, which is already drilling as of 10 December. It is also the first company to explore for and find helium around Greenland’s warm springs. As the company announced today, it has succeeded in expanding the Greenland licence of the Tunu Project by another 45 km² to now 2,816 km². In addition to the right to helium and other noble gases, the Greenlandic authorities have also granted Pulsar the right to use geothermal energy, provided this is related to the extraction of helium. The exploitation of geothermal energy falls under the administrative jurisdiction of the Mineral Resources Authority.
The expanded area includes the Cape Tobin locality, where thermal wells were sampled in 2021 that yielded a helium concentration of 0.8%, associated with 97% nitrogen and 2% argon. The same site has been studied by geothermal industry experts, including Iceland GeoSurvey, which has published data indicating that cogeneration appears to be feasible due to the geochemical temperature of 80 °C at depth and access to the cold ocean as a heat sink.
Thomas Abraham-James, President and CEO of Pulsar commented, “Helium was recently added to the European Union’s list of critical raw materials and Pulsar’s Tunu project is one of very few primary helium deposits in Europe. Tunu was developed internally and is the first helium licence to be awarded in Greenland. The licence extension relates to a strategic site containing a proven primary helium system and potential for geothermal energy.”
Conclusion: Compared to the Topaz project in the US, Greenland is playing second fiddle to Pulsar at the moment. The first helium licence in Greenland is nevertheless of strategic importance. Europe is almost completely dependent on imports and has no primary helium source of its own. Most of its helium comes from Algeria, which extracts helium as a by-product of its gas production. Pulsar wants to develop helium sources not only in the US but also for Europe, which works independently of fossil fuel extraction.
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