Western Desert Resources to develop project in Northern Territories, Australia
Western Desert Resources has signed a Memorandum of Understanding (MOU) with Geopower Energy Ltd., to commence exclusive negotiations for the development of its geothermal tenements in the Northern Territory, Australia.
“Western Desert Resources (ASX: WDR) has signed a Memorandum of Understanding (MOU) with Geopower Energy Ltd., to commence exclusive negotiations for the development of its geothermal tenements in the Northern Territory, Australia”, so a recent release by the company.
According to this announcement, “The company holds two applications for Geothermal Exploration Permits within the Beetaloo Sub-Basin (GEP 27830) and Roper Bar (GEP 27829) located south east of Roper Bar in the NT.
The MOU is subject to the Northern Territory Government granting these applications to WDR.
WDR owns 100% of Roper Bar and Mountain Creek Iron Ore Projects, which cover a large land area some 40 kilometres from the Gulf of Carpentaria in Australia’s north.
Norm Gardner, managing director, said the company is focussed on developing its iron ore assets which are located in one of the most prospective mining provinces in Australia.
“While the projects are located closer to potential customers than some other operating and planned mines, the area is remote and WDR is exploring a number of options to provide electrical power to any future mining operations.”
“The company believes that geothermal energy has the potential to satisfy the power requirements for the operation,” Gardner added.
This assessment work will be undertaken concurrent with exploration drilling on the Roper Bar Project.
The planned drilling program has been interrupted due to unseasonably wet conditions which have restricted rig and drilling vehicle movement.
WDR expect to be moving to site within 2 weeks with drilling starting in 3 weeks. There is 25,000 metres of R.C Drilling planned for this season.”
Source: Proactive Investors