Blue Star Helium Ltd (ASX:BNL, OTC:BSNLF) has completed drilling the first exploratory water well at Galactica/Pegasus helium prospect in Las Animas County, Colorado.
This well, known as JXSN#1, forms part of Blue Star’s key helium exploration activities in the county and lab analysis of the gas encountered in the well is now underway.
The energy stock plans to provide a further update after an initial evaluation of all data from the well is complete.
Next steps
Blue Star’s second exploratory water well, JXSN#2, has been drilled and cased above the Lyons formation. The well will be drilling ahead later this week.
Drilling of the third exploratory water well, JXSN#3, is expected to begin promptly after JXSN#2 is complete. Blue Star personnel are already on-site collecting and evaluating data.
Blue Star believes there’s more to explore around the water wells: a rancher with a relatively deep, existing well, roughly 6.5 miles north of JXSN#2, has given the company the green light to run a suite of wireline logs in the well.
The log data has provided valuable stratigraphic and depth information, which will help the energy stock better define the Lyons formation prospects in the Galactica and Pegasus area.
About Blue Star
Blue Star Helium is an independent helium exploration and production company that’s headquartered in Australia.
The company’s strategy is to find and develop new supplies of low-cost, high-grade helium in North America.
Blue Star is focused on rapidly advancing further drill planning and permitting across its key prospects in 2022, including a mix of exploratory water wells and helium exploration wells.
The exploratory water wells will front-run helium exploration, appraisal and production drilling at the Pegasus/Galactica prospects, where Blue Star also has a further potential 29 helium exploration well locations in its permitting pipeline.
“The continuation of our successful exploratory water well program this year reflects the large benefits that we are able to both deliver and receive from undertaking this combined ESG and geologic evaluation initiative,” Blue Star managing director and CEO Trent Spry said in early April.