Foothills in Colorado
Source: Adobe Stock
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

Blue Star Helium Ltd (ASX:BNL) has identified a “significant” material increase in helium concentrations at its State 16 well, with nitrogen and carbon dioxide also detected.

Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.

Samples from the development well – part of the wider Galactica project in Colorado – showed helium concentrates measured at 2.17%; a notable rise from the previously reported non air-corrected average, 1.65%. Alongside this, nitrogen was measured at 36.26% and carbon dioxide at 61.56%.

Sampling work also indicated well head pressure was 10 psig, with this being the highest observed at State 16 to date – underlining encouraging reservoir connectivity.

Managing director and CEO Trent Spry said these recent results added confidence in the wider Galactica project. “While we await gas analysis from the recent Jackson 31 well, this significant increase in helium concentration at State 16 is a very encouraging development,” the Blue Star boss explained.

“The higher helium percentage, combined with the increased well head pressure, reinforces our confidence in the potential of this reservoir.

More market news

Pushing in: Ukraine’s minerals are in Trump’s sights. What does this really mean?

Tough trim: Why rate cuts are bad news for the Australian economy

“We believe these results bode well for our broader portfolio and validate our ongoing
development strategy.”

Blue Star shares have been trading at 0.8 cents today.

Join the discussion: See what HotCopper users are saying about Blue Star Helium and be part of the conversations that move the markets.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.

bnl by the numbers
More From The Market Online
The words "ASX Market Open" appear alongside a Bear ( FALL ) with a market chart graphic floating above it. The whole image is faded yellow and orange.

ASX Today: XJO down -2% as investors presumably realise 4% CPI isn’t a good thing

When America coughs the world catches a cold, but apparently Australia’s immune system is compromised.

Broken Hill Gold obtains third gold pour from existing heap leach ore at White Dam

Broken Hill Gold has achieved a third gold pour from re-crushed material on the existing heap…
Flexiroam concept traveller using global eSIM network

This ASX comms stock is up +160% over the last year, and just turned profitable. Here’s how FlexiRoam disrupts the market

If you’ve gone travelling overseas in the last few years, you may have heard of eSIMs – in essence, a digital SIM card

Elixir Energy hits milestone at Lorelle-3H well with commencement of post-soak flow testing

Elixir Energy is set to hit a key milestone with a new phase of testing of…