Mustang Geothermal starts drill program in Peru
Reno, USA - Mustang Goethermal announces that it plans to start a new exploration program consisting of 200 shallow temperature gradient drill holes on the Company's geothermal concessions in Peru.
The drill program will start on the Condoroma Property, located near the settlement of Chaquelles, 29 kilometers southeast of the Swiss based Xstrata plc's Antapaccay copper project. Mustang plans to drill 100 shallow-temperature holes across the Condoroma geothermal concession to identify additional geothermal "hot-spots" and refine deeper drill targets on the property. The shape and size of the anomaly, coupled with geological and geophysical data are intended to narrow down the prospective areas for deeper exploration drilling.
"The ability to quickly and inexpensively generate additional information and potential new exploration targets at Condoroma as well as our other Mustang's geothermal concessions is important in fast-tracking the development of a geothermal resource in Peru and production of electrical power to meet the surging needs in Southern Peru," commented the Richard Bachman, CEO of Mustang.
Source: IWR Online, 20 Dec 2011