THE BOURSE WHISPERER: Hot Rock Limited (ASX: HRL) has been granted a further geothermal exploration authorisation in Southern Peru in the Huisco area.
The company now holds a total of six granted authorisations in Peru.
The Huisco prospect is located at the northern end of an active volcanic belt in Southern Peru.
Location of Hot Rock’s geothermal projects in South America showing
the location of the newly granted Huisco exploration authorisation in
Southern Peru. Source: Company announcement
According to Hot Rock, reconnaissance level field studies carried out at the project to date have demonstrated Huisco to be a medium to high temperature, fracture controlled, hot water geothermal system.
“Now that the authorisation has been granted, HRL will commence community information programs and discussions with local land owners to obtain land access,” hot rock Limited said in its ASX announcement.
“An application has already been submitted to the Peru DGAAE for environmental clearance to allow HRL to commence detailed geoscientific surveys.
“Once these requirements have been satisfied HRL will commence geoscientific surveys at Huisco in the upcoming field season which will run from early May through to end November 2013.”
Hot Rock considers the granting of the Huisco tenement to be another important step for the company as it develops a portfolio of high-quality geothermal tenements in Peru.
The company indicated it also has a further three volcanic systems still under application, awaiting grant.
Hot Rock said it is currently seeking a partner, or partners, to assist in the exploration and development of Huisco and its other granted projects.