08:39 AM EST, 12/09/2024 (MT Newswires) -- Pulsar Helium ( PSRHF ) (AIM: PLSR, PLSR.V) London-listed shares were up by 1% on Monday after the company said it has begun field activities at its Topaz Project in Minnesota for deepening of the Jetstream #1 appraisal well.

Under this phase, the company plans to deepen the Jetstream #1 appraisal well by a minimum of 1,640 feet (500 metres) penetrating the entire modelled helium-bearing reservoir.

"During this deeper drilling phase, we plan to build on this and unlock a helium resource of size and quality to advance our goal to become a significant helium supplier," said Pulsar President and Chief Executive Thomas Abraham-James.

The company said the Jetstream #1 appraisal well previously reached a depth of 671 meters earlier this year and identified top-tier helium concentrations of up to 14.5% and CO2 concentrations exceeding 70%.