West Perth-based renewable energy company, Torrens Energy Ltd, has been awarded a $100,000 contract for seismic work under the South Australian government's Plan for Accelerating Exploration Scheme.
The 2D seismic programme forms part of a comprehensive exploration programme scheduled for 2008-2009 in the company's wholly-owned Adelaide Project Area, South Australia.
In addition, exploration activity at the Adelaide Project Area is matched funded to $6 million which includes a $3 million Federal Government REDI Grant.
The 2D seismic survey will complement "hot-rock" exploration drilling in the Adelaide Project scheduled for the second half of 2008, and will form the basis of the company's innovative 3D-TFM heat mapping programme designed to identify and quantify "hot-rock" geothermal resources.
The 3D-TFM exploration methodology has successfully identified high heat flows and temperature gradients in the company's Torrens Project Area north of Port Augusta in South Australia.
Torrens chief executive Chris Matthews said the Adelaide project had great potential and was similar in setting to its Torrens Project, which already had early "hot-rock" exploration success.
The awarding of this $100,000 in grant funding continues Torrens Energy's run of success since listing in March 2007.
Torrens is close to completing its first exploration drilling programme, which has yielded heat flows above the averages recorded for the Cooper Basin of South Australia.
The company said the results were higher than temperatures currently being exploited for "hot-rock" geothermal power in Europe, and amongst the highest being evaluated in Australia.
The results confirm the existence of hot rock geothermal targets in the company's wholly owned Torrens Project, located on the National Electricity Grid in South Australia.
