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Market: ASX
Sector: General Mining
Epic: CUU
News: Latest news
Web Site: Callabonna Uranium
Other Articles: 30-11-200927-11-2009

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Callabonna Uranium

Callabonna Uranium

Callabonna Uranium Limited (CUU) is a uranium and geothermal energy exploration company. Its mission is to become a successful explorer and producer of energy from the sale of both uranium and geothermal power.
Friday, November 27, 2009

Callabonna Uranium applies for additional geothermal licences in South Australia

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Callabonna Uranium (ASX: CUU) has submitted an additional three Geothermal Exploration Licence Applications covering areas in the Frome Embayment in South Australia.

The GELAs were submitted through a wholly owned subsidiary Callabonna Energy, covering 1,479 km2.

Managing director Stephen McCaughey said the rationale behind these additional applications was to consolidate our position in this highly prospective geothermal terrain and supported the six GELs already granted to the Company in the same area.

Callabonna holds 6 granted Geothermal Exploration Licences covering 2,875km2 in the same area.

The GELs are 50 kilometres NE of Petratherm’s Paralana Project, while GELs are bisected by the proposed new 275 kV NEM powerline route connecting the geothermal projects of the Cooper Basin and Paralana to markets.

The proven high heat flows, 68.5oC per kilometre in Yerila 1 – one of the highest temperature gradients measured in Australia.

Interpreted thick insulating sediments to be confirmed by re-processing seismic data.

The Callabonna Energy project is located 50 kilometres to the north-east of Petratherm’s Paralana project and is under the proposed development route for a new 275 kV NEM powerline connecting the geothermal projects of the Cooper Basin and Paralana areas to potential markets.

The project is located within the South Australian Heat Flow Anomaly, where the crustal heat flow is interpreted to be almost double that seen elsewhere. The unusually high levels of uranium and thorium in the Proterozoic rocks in this region and in particular the Mount Painter Inlier are the likely explanation for this unusually high heat flow.

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