Acquisition of Geothermal Exploration Licence 293 Port Adelaide, South Australia
HIGHLIGHTS • Additional Geothermal Exploration Licence (GEL 293) offered at Port Adelaide, immediately north of Adelaide, bringing the Company’s total land holding to 17 licence areas for approximately 7,800 km2. • Highly prospective geology known for high heat flow and coincident insulating sedimentary cover – modelled nearby heat flow measurements show 200°C+ achievable, indicating viable temperatures for hot rock power generation likely. • Port Adelaide is central to SA’s electricity supply infrastructure and industry. GEL 293 lies within this infrastructure hub, providing a significant commercial advantage over companies exploring in areas that are unsupported by existing power networks. • GEL 293 encompasses the Pelican Point area which is a prime site for a desalination plant, to help meet Adelaide's critical water needs. Studies show that relatively low geothermal temperatures can be used to desalinate seawater.
TEY Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
