Pulsar Helium Reports Major Helium Discovery Near Babbitt in St. Louis County

Pulsar Helium has been deepening its Jetstream #1 well near Babbitt by at least 1,640 feet, pushing the total depth to at least 3,840 feet as the Portugal-headquartered company works to determine the full extent of a helium reservoir that early tests suggested could rank among the most concentrated deposits ever found.

The original well at the Topaz site reached 2,200 feet, about 50 feet from a spot where Duluth Metals struck helium in 2011 while exploring for copper, nickel, cobalt, and platinum group minerals. February 2024 drill data indicated that earlier drilling had only reached the top of the reservoir. "The assessment of the full height of the previously discovered high helium concentration reservoir is a key stage in progressing Topaz," said Thomas Abraham-James, Pulsar Helium's president and chief executive officer. "Previous drill data obtained in February 2024 indicated that we only reached the top of the reservoir and that it may extend for a further 1,640 feet. Immediately upon completion we will run down-hole tools, and I look forward to keeping the market updated with our progress."

Initial testing at the site returned helium concentrations of up to 14.5% in one sample. More recent gas analyses confirmed concentrations of up to 8% across both Jetstream #1 and Jetstream #2. That second well's drill pad has been completed, with initial gas samples also showing up to 8% helium and what the company described as "excellent pressure." To put those numbers in context, a concentration greater than 0.3% is considered economically viable, according to MPR News.

Abraham-James has called the Babbitt area a "Goldilocks zone" for helium. "It has the right geological ingredients," he said. "There aren't many places on the planet that have them."

Pulsar holds mineral rights on 4,181 acres of private land at the site and has launched a plant engineering study. The company is planning to drill up to 10 new wells and has proposed acquiring Quantum Hydrogen, Inc., which holds non-hydrocarbon mineral rights on 59,100 gross acres across St. Louis and Itasca counties. If an independent third-party report finds sufficient volume to justify commercial production, building a facility would take roughly 18 months.

After deepening is complete, open-hole analysis will begin, followed by flow testing once well pressure stabilizes.

If the project advances, it would be Minnesota's first commercial helium project. That path, however, runs through a significant regulatory gap. Guidelines for gas extraction introduced during the 2024 Minnesota legislative session failed to make it into final bills, according to the Minnesota Department of Natural Resources Lands and Minerals Division. Without those guidelines, a moratorium on gas extraction remains in place statewide, even for projects on private land.

Helium is used in semiconductor manufacturing, fiber optics, medical equipment, and electric vehicles. Global supply concerns tied to Middle East tensions have added urgency to domestic discovery efforts, and CBS Minnesota noted the potential economic boost a commercial operation could bring to rural Babbitt. Pulsar also operates a helium project in Greenland called Tunu, and maintains offices in both Portugal and British Columbia.