Australian Southern Gold Ltd. geothermal project
Australian Southern Gold Ltd.'s wholly?owned geothermal subsidiary, Inferus Resources Pty Ltd, has 4 granted Geothermal Exploration Licences (GEL) and 18 GEL Applications that comprise Southern Gold’s Torrens Geothermal Project, in South Australia.
Southern Gold Limited (ASX:SAU), an Australia based company engaged in the exploration exploration for gold, copper, uranium, nickel, and other economic mineral deposits. The company’s whollyowned geothermal subsidiary, Inferus Resources Pty Ltd. through which the company is active in geothermal exploration as well, has 4 granted geothermal exploration licenses (GEL) and 18 GEL applications.
In its quarterly update to the Australian Stock Exchange the company provides the following update for tthe “Torrens Geothermal Project” in South Australia. “Southern Gold Limited, through its wholly?owned geothermal subsidiary, Inferus Resources Pty Ltd, has 4 granted Geothermal Exploration Licences (GEL) and 18 GEL Applications that comprise Southern Gold’s Torrens Geothermal Project, in South Australia.
If the applications are successful, the expanded project area of over 10,000km2 will provide Southern Gold with one of the largest strategic geothermal land holdings in an area that hosts growing energy markets including the world?class Olympic Dam and Prominent Hill mines.
The potential economics of the project are built around the proximity of commercially viable insulated hot rocks to high voltage power distribution infrastructure and nearby market demand. This will only serve to benefit Southern Gold’s goal of establishing a commercially viable EGS (Enhanced Geothermal System) in the area.
A line of new high?quality seismic geophysics has been recently acquired by Geoscience Australia (GA) over the southern portion of the Torrens Geothermal Project (Figure 9 below). This new seismic data is crucial to Southern Gold obtaining confidence in the geology geothermal reservoirs at depths of 3?5km. Southern Gold is currently processing this new seismic dataset.”
The company is not to be mistaken for Torrens Energy Ltd., which is another Australian listed geothermal development company.
Source: Company quarterly update via The Sydney Morning Herald