Greenpower Energy spuds geothermal well in Western Australia
Greenpower Energy has spudded a geothermal well to test the target of drilling for an EGS geothermal power project in the Esperance Region of Western Australia.
Australian news report today that development firm Greenpower Energy (ASX:GPP) “has spudded a geothermal hole to test a radiogenic granite target in the Esperance Region of Western Australia for a potential EGS geothermal power project.
The company expects that it will take around 20 days to drill and complete the Mt Ridley-1 well to a planned total depth of 400 metres.
Core will be cut below surface sediments and a suite of down hole geophysical logs run at the completion of the drill hole.
Mt Ridley-1 is the first of two drill holes to be drilled on GEP 38 and GEP 39, which extend from the coast at Esperance northward to Salmon Gums.
Preliminary qualitative analysis of the tenements suggests at least one granite body with strong thermal potential. Interpretation of available imagery indicates a granite body in the Mt Ridley area with a north east to south west strike and a north westerly dip.
Dry steam geothermal power can be produced by steam from reservoirs of hot water found when drilling to at least a few kilometres underneath the Earth’s surface.
Greenpower had $1.34 million in cash as of 31 December 2012 and had in June last year secured a government co-funded drilling grant of $120,000 for the current drilling program.
This grant is being provided on a dollar for dollar basis under the Western Australian Royalties for Regions funded, Exploration Incentive Scheme.”
Source: Proactive Investors