Hanger #1, Mountain View, CA. from an old photo.
Pulsar Helium Inc., a Canadian-based company, announced in a news release on Thursday that its team encountered gases with concentrations of up to 12.4% helium when its drilling rig reached a total depth of 2,200 at the Topaz Project drill site. Helium concentrations above 0.3% are considered economically viable.
Thomas Abraham-James, Pulsar’s president and CEO, said he is "delighted" about the "outstanding result."
"It is a big day for helium exploration, confirming the original discovery in the new jurisdiction of Minnesota. I look forward to keeping the market updated with further results as they are received," Abraham-James said.