Mineral exploration company Greenvale Mining has lodged three applications for three prospective geothermal areas in the Millungera Basin of North West Queensland.
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Situated next to the North West Mineral Province, the Millungera Basin is considered one of the most highly geologically prospective areas in Australia.
Greenvale says the new applications areas would benefit from the Copperstring project. a 1100km open access transmission line to connect Mount Isa to east coast power infrastructure in Townsville.
Greenvale has also applied for the corresponding mineral tenements over the new proposed project areas and will assess the geothermal brines for a full suite of metals, including as a potential source of lithium.
The Millungera Basin was identified after deep seismic surveys in 2006 and 2007. The Basin encompasses the Mount Isa Inlier and is generally characterized by high heat flow.
Greenvale has applied for areas covering the majority of the Basin and from the existing available geological information, a potential geothermal resource could be just 2km below surface.
Greenvale Mining Managing Director, Neil Biddle, said this was part of their geothermal strategy and opened up opportunity to explore for geothermal energy sources on the doorstep of the North-West Mineral Province.
"The cost and availability of power is a huge issue in Australia right now, and nowhere more than North-West Queensland," Mr Biddle said.
"The significance of the opportunity is further enhanced by the $1.7 billion CopperString 2.0 Project, a massive investment in power infrastructure which further leverages the huge opportunity for our shareholders."
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