Pulsar Helium Inc (AIM:PLSR, TSX-V:PLSR, OTCQB:PSRHF) shares traded higher on Friday, after the company confirmed sustained helium concentrations of 7-8% from its Jetstream #1 and #2 wells at the Topaz project in Minnesota, USA.
The results validate Topaz as a rare primary helium discovery with concentrations far above the 0.3% commercial threshold, the company said.
"We are very encouraged by the consistency of helium grades across both Jetstream wells, with favorable CO₂ levels expected to simplify processing and enhance product yields," said chief executive Thomas Abraham-James.
"These latest datasets further validate the Topaz Project's significant potential, with sustained helium concentrations of up to 8% at Jetstream #1 providing a robust foundation for future development."
Pulsar noted, however, that sustained flow at Jetstream-2 has been restricted by persistent wellbore blockages, but a targeted cleanout program is being designed to address these issues.
Jetstream-1 delivered a maximum natural flow rate of 501 thousand cubic feet per day, rising to 1.3 million cubic feet per day under compression.
Meanwhile, Jetstream-2 recorded similar helium grades and higher pressures but faced wellbore blockages that restricted flow. A cleanout programme is being planned.
Pulsar shares were up 3% in Friday morning's deals, changing hands at 24p, and earlier in the session traded at 26p.