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Earths Energy Ltd (ASX:EE1) has conducted feasibility work on its Paralana and Flinders West projects in South Australia, with preliminary results indicating that the former in particular has potential as an Enhanced Geothermal System Program project.
Both projects are described as ‘the most advanced geothermal projects in Australia’, with $40 million spent on fieldwork and studies for both Paralana and Flinders West as part of EE1’s Techno-Economic Feasibility Study (TES).
The initial phase of this feasibility has shown that Paralana is suitable as an open loop Enhanced Geothermal System (EGS) target.
The TES – which is being carried out by GLJ Ltd – has already completed a Red Flag assessment on the two projects, and the remaining parts of the feasibility work will now concentrate on the EGS development of Paralana.
EE1 CEO Josh Puckridge said the TES had confirmed expectations for Paralana in particular.
“GLJ’s preliminary findings affirm our belief in Paralana’s potential as an Enhanced Geothermal System project,” he said.
“Independently validating Paralana’s permeability and stress conditions for EGS
development is both significant and valuable.
“Momentum around EGS is building, spurred by pioneering successes in the USA, where
projects in Nevada and Utah are setting the stage. Paralana stands alongside these leading
efforts, and our collaboration with GLJ will showcase this further.”
EE1 has been trading at 1.5 cents.
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