Southern Gold updates on geothermal project in Annual Report
Southern Gold Limited established a large estimated Inferred Geothermal Resource of 260,000 PJ (petajoules) within Southern Gold’s 100% owned Roxby Geothermal Project during the year.
Australian Southern Gold Limited, a company exploring gold, copper, nickel, geothermal and other economic mineral deposits.
According to the report, “the Company established a large estimated Inferred Geothermal Resource of 260,000 PJ (petajoules) within Southern Gold’s 100% owned Roxby Geothermal Project during the year.
This Project has grown rapidly over the financial year and now covers an area of 10,000 km2 over one of Australia’s largest geothermal hot spot in South Australia and is strategically located to straddle the existing 275Kv and 132Kv power lines that connect the Olympic Dam and Prominent Hill mines and is close to the national grid at Port Augusta. Preliminary economic modelling demonstrates the potential for a highly attractive, baseload renewable energy development project with favourable power generation costs”
Source: Company report via The Age