Massive helium reservoir with 'mind-boggling' concentrations may be even bigger, more concentrated than we thought

A helium reservoir in northern Minnesota is likely to be "expansive both laterally and at depth," a new survey shows.

Seismic data from a 0.7-mile-long (1.1 kilometers) sweep just outside of Babbitt suggest the recently discovered reservoir is larger than initial estimates indicated, which has resource exploration company Pulsar Helium and its potential clients jumping for joy. 

Recent tests also revealed helium concentrations underground are even higher than the "mind-boggling" results obtained in March, firmly establishing the project in Minnesota as a major player in the global helium market. 

"We are delighted to receive this 2D seismic data," Pulsar Helium president and CEO Thomas Abraham-James said in a statement. The results confirm that a previously discovered pocket of helium between 1,750 and 2,200 feet (530 to 670 meters) below the surface "is identifiable and that additional gas-bearing zones are likely at depth," he said.

Laboratory tests in June placed helium concentrations in the reservoir between 8.7% and 14.5%, topping previous maximum estimates of 12.4% and 13.8%. The concentrations are the highest the industry has ever seen: To put those figures into context, any helium deposit with a concentration above 0.3% is considered economically significant, Abraham James previously told Live Science.

Related: Scientists just discovered an enormous lithium reservoir under Pennsylvania

Despite being the second most abundant gas in the universe, helium is a scarce resource on Earth, forming only through nuclear fusion and the radioactive decay of uranium and thorium. The gas is in high demand, because it forms an essential cooling component in rockets, nuclear reactors and diagnostic medical equipment, such as magnetic resonance imaging (MRI) machines.