Blue Star Helium (ASX:BNL) has secured approval from the Colorado Energy and Carbon Management Commission for five additional helium well locations at its Galactica/Pegasus project in Las Animas County, Colorado. This approval marks a crucial step forward for the development of their helium production facility planned in collaboration with Helium One Global Plc. The drilling is anticipated to start in Q4 2024.
Blue Star Helium has received approval for five new helium well locations at the Galactica/Pegasus project, marking a pivotal advancement in their helium production initiatives. These wells will enhance Blue Star's existing inventory, adding to the ten approved locations. The partnership with Helium One Global Plc is integral to the project's progress, with further agreements to be finalized soon. With the drilling set to begin in late 2024, this development aligns with Blue Star's strategy to meet the growing global demand for helium, a crucial industrial gas. The company remains focused on leveraging its North American projects to supply high-grade, low-cost helium.
This approval is a critical milestone in the development of our Galactica helium production facility. It lays the groundwork for the planned drilling activities and reaffirms our commitment to advancing our strategic partnership with Helium One Global Plc.