Hot Rock Limited has announced the expansion of its geothermal exploration portfolio in South America, with the recent granting of the "Turu" geothermal tenement located in Southern Peru.
With this award, Hot Rock now holds four granted tenements in Peru, in addition to 13 tenements in Chile. Five more tenement applications for volcanic geothermal prospects in Southern Peru remain in processing and are expected to be granted this year.
The Turu tenement is associated with a volcanic caldera complex and shows good field evidence for a geothermal reservoir with subsurface temperatures suitable for electrical power generation.
Hot Rock's Executive Chairman Dr Mark Elliott said "With this grant, Hot Rock further cements its position as the leading geothermal company within two of the most exciting, emerging geothermal provinces in the world today, in Peru and Chile."
"We are now able to commence community consultation work at Turu after which we will proceed with surface exploration studies, comprised of geology, geochemistry and geophysics".
"Of note, these activities will be undertaken outside of a Joint Venture program that we are currently advancing with the Energy Development Corporation (EDC) from the Philippines, the largest integrated geothermal company in the world, involving our already granted Quellaapacheta and Chocopata projects. This will allow Hot Rock to independently proceed with the proving and development of our fully-owned projects in Peru, in parallel with the two Joint Venture projects".
