Southern Gold’s geothermal plans heat up
Thursday, 4 June 2009
SOUTHERN Gold says a geothermal resource of 260,000 petajoules has been estimated over GEL 302, part of the company’s 100%-owned newly named Roxby geothermal project in South Australia.
Southern Gold's Geothermal tenure covering 10,000sq.km of hot rocks and high voltage power lines linking Olympic Dam and Prominent Hill to South Aust
The company said the large resource within GEL 302 provides a strong basis for it to investigate the commercial development of an engineered geothermal system.
GEL 302 represents 5% of the 10,000 square kilometre Roxby geothermal project (previously called Torrens).
The company also plans to pursue development objectives to confirm the commercial potential of the project, and is well positioned to start preparing its application for the expected second round of the $50 million federal government geothermal drill program.
Southern Gold has one of the largest strategic geothermal land holdings in an area that hosts the Olympic Dam and Prominent Hill mines.
The company’s project is also strategically located to straddle the power lines that connect the Olympic Dam and Prominent Hill mines to the national power grid at Port Augusta.
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