The company is one of the largest holders of geothermal acreage in Australia with its positions in the Otway Basin Geothermal Province and Queensland. It has also acquired quality high temperature geothermal concessions in Chile and Peru. HRL is planning to drill its first flagship geothermal project at Koroit in the Otway Basin, Victoria in 2011.
Otway Basin
- HRL holds over 27,000km2 covering a large part of the on-shore Hot Sedimentary Aquifer (HSA) geothermal targets in the Otway Basin, Victoria.
- Koroit Project in the Otway Basin contains stored heat of indicated resource of 7,800PJ and inferred resource of 59,000PJ to a depth of 4000m.
- Granted a Commonwealth GDP grant for $7m to fund drilling which is planned to commence in 2011.
Chile
- HRL holds a 100% interest in 12 Chilean exploration tenements spanning some 5,240km2 in 6 project areas. These contain surface thermal features consisting of hot springs, sinter deposits and fumaroles, all indicative of the presence of active geothermal systems below surface.
- MT and TDEM geophysical surveys underway at 2 projects in Chile.
- Active support from the Chilean Government of the geothermal sector.
Peru
- Among the first companies to be granted geothermal tenements in Peru following the Government's recent granting of the Rupha tenement located in the Ancash region to the north of Lima.
- A further six tenement applications are now in the final stages of processing and are expected to be granted by mid 2011.
- Land access and community engagement work already commenced, in preparation of field programmes to begin in mid 2011.
Project Timeline
