Pulsar Helium (AIM:PLSR) has signed a contract with Xcalibur MPH to run a high-resolution airborne gravity gradiometry and magnetic survey over its Falcon project in Michigan's Upper Peninsula, through its wholly owned subsidiary Pulsar Helium (MI) Inc.
The AIM, TSXV and OTCQB-listed primary helium company holds an exclusive exploration option over approximately 488,090 gross acres of mineral rights at Falcon, covering helium-4, helium-3, carbon dioxide and hydrogen, and the survey is designed to test whether the Precambrian basement geology underpinning its flagship Topaz helium project in Minnesota extends into Michigan.
The FALCON System Survey will cover approximately 14,727 line kilometres across an initial priority area, using 500-metre-spaced survey lines and 5,000-metre tie lines spaced at 5,000 metres, and is expected to begin in mid-fourth quarter.
Xcalibur will fly its purpose-built FALCON gravity-gradient system alongside high-precision magnetic instrumentation previously deployed successfully at Topaz, at a nominal terrain clearance of around 165 metres, with the aircraft also carrying laser-scanning, radar-altimeter and GPS equipment for terrain correction and positioning.
Pulsar will pair the new survey data with a high-resolution airborne magnetic and radiometric dataset the US Geological Survey published on 24 September, covering much of Michigan's Upper Peninsula and northern Wisconsin under its Earth Mapping Resources Initiative, acquired during 2025 across around 216,000 line kilometres and 38,400 square kilometres.
That dataset is available to Pulsar at no acquisition cost and will be integrated with the Xcalibur survey to help interpret lithological variation, geological contacts and structures across the wider Falcon land package.
"Signing this airborne survey contract marks an important step in advancing Falcon from district-scale land assembly into systematic target generation," said chief executive Thomas Abraham-James, adding that the combined datasets "will help us efficiently rank targets and direct the next phase of work as we apply the disciplined, data-led approach developed at Topaz in Minnesota to comparable geology in Michigan."
Pulsar built its Michigan position through the acquisition of Hybrid Hydrogen for $105,000, which brought the Falcon project into the group earlier this year alongside the 80% acquisition of Quantum Hydrogen, as the company has expanded beyond its Topaz and Tunu flagship assets.
The Falcon strategy mirrors the technical workflow Pulsar has applied at Topaz in Minnesota, where five core-hole wells and seven Jetstream exploration wells have encountered high-pressure gas, and where the company is now planning production-ready wells and has signed equipment-supply terms with Chart Energy & Chemicals for an $85.5m helium liquefaction and CO2 capture plant.
Results from the survey will be integrated with geological mapping, geochemistry and other exploration data to rank prospective structures and direct follow-up spending, with flying subject to final on-site safety assessment and operational conditions.