Tasmania’s geothermal potential to be explored

5 May, 2007

Tasmania’s potential as a source of geothermal energy is to be explored.

Geothermal Energy Tasmania, a subsidiary of allegiance Minerals, has applied for an exploration licence over 2792 square kilometres on the west coast of Tasmania.

Geothermal Energy Tasmania is the second company to take up a large ground holding in Tasmania to explore for this source of green energy. The company has selected western Tasmania because the deep mines at Rosebery and Renison have recorded high heat flows, emanating from the west coast granites.

Tasmanian Deputy Premier Steven Kons also announced that the Tasmanian government intends to grant three new mineral exploration licences with the principal target of base metals in north and north-west Tasmania. A further licence in north-east Tasmania is for gold exploration.

Stonehenge Metals has applied for 80 square kilometres in the Interview River area, north-west of Corinna. Stonehenge will be exploring for tin.

Goldstream Mining has applied for 165 square kilometres in the Salmon River area near Redpa in north-west Tasmania. Goldstream plans to carry out stream sediment and heavy mineral sampling and to use geophysical surveys to define copper, zinc and gold targets to be tested by drilling.

Red River Resources has applied for 103 square kilometres near Hampshire in northern Tasmania. The company’s proposed program is focused on base metals and gold involving soil sampling, gravity measurements and drilling. The exploration licence will add to exploration properties already held by Red River Resources in the area.

Lefroy Resources has applied for 37 square kilometres in north-east Tasmania near Lisle. The company holds other exploration properties in north-east Tasmania and will carry out soil sampling and drilling for gold.

“The commitment to Tasmania by these companies is evidence of the strong mineral exploration industry in the State,” said Mr Kons.

“The Tasmanian government is showing its support through the $5 million TasExplore Project that will see a significant upgrade to the 3-D geological and resource model and the TIGER geological information system to enable better targeting of exploration.”

This news item is presented as being of general interest on the state of economic development in Tasmania. It is not intended as investment advice. The author and the owners of T CHANGE do not hold shares in, nor do they derive any benefit whatsoever from the company/companies mentioned in this report.