In a release today, “Southern Gold Ltd (ASX:SAU) has announced that the granting of a suite of 18 new Geothermal Exploration Licences (GELs) in South Australia has delivered a five-fold increase in its Roxby geothermal project (RGP) footprint as well as a dominant hot rocks energy opportunity in an area acknowledged as one of the State’s main mining, mineral exploration and electricity grid corridors.

Southern Gold had previously held only four non-contiguous granted GELs in an area directly west of Lake Torrens.

The additional licences now gives the company a total of 22 granted GELs covering an area of 10,000 sq kms over one of Australia’s largest geothermal hotspots.

The company recently established a large estimated Inferred Geothermal Resource of 260,000 petajoules within GEL302 – a tenement in the southeastern area of its RGP holdings and representing just 5 per cent of the total project’s now granted geothermal footprint.”

Source: iStockAnalyst