News
Apr 19, 2011Magma Energy Awarded its First Geothermal Concessions in Peru
Magma Energy Corp.(TSX: MXY) is pleased to announce that it has been awarded two geothermal exploration concessions in Peru, known as Crucero and Loriscota. These concessions cover 37,400 hectares of land in southern Peruand are underlain by young volcanic rocks with numerous hot springs and other promising indicators of large geothermal systems.
During 2011, Magma will conduct geological, geochemical, and geophysical work to advance each concession´s potential for geothermal power production. Magma expects to receive additional Peruvian geothermal concessions during the year.
Dr. Catherine Hickson, Magma´s Chief Geologist and Vice-President Exploration, said, "I am very pleased we have received these long-awaited concessions and can now begin active fieldwork. Peruhas promising geology for world-class geothermal systems and I hope we can replicate in Peruthe success we have experienced to date in our Chilean projects."
More information on Magma's website
Comments
I live in Southern California and am keen to see a huge expansion of geothermal power. Is Magma involved here?
