VRX Silica (ASX:VRX) has been granted a Geothermal Exploration Permit (GEP) by the WA Department of Mines, Industry Regulation and Safety (DMIRS) encompassing 8 blocks at Dandaragan in Western Australia.
The $100.87 million market capitalisation company says the permit includes the Walyering gas field currently under development by ASX-listed energy stocks Strike Energy (ASX:STC) and Talon Energy (ASX:TPD).
As such, the grant offers VRX an opportunity to work with these companies to use extensive historical and current data to explore potential geothermal power options.
The company says geothermal technology has the potential to produce long-term dispatchable renewable energy for the midwest region, including VRX’s Arrowsmith Silica Sand Project, alongside green hydrogen for the manufacture of glass.
Commenting on the exploration grant, VRX Silica Managing Director Bruce Maluish says: “This initiative was undertaken by VRX Silica to support our silica sand projects and long-term ambitions for the production of glass in Western Australia.
“This initiative was undertaken by VRX Silica to support our silica sand projects and long-term ambitions for the production of glass in Western Australia”
Geothermal energy is a reliable, long-term renewable energy source with the ability to power our silica sand projects and provide base-load renewable generation to backstop variable renewable sources, such as wind and solar.”
VRX is currently engaging with potential partners with relevant industry experience and capability for the development of this project.
VRX Silica is a silica sand company actively developing its wholly owned silica sand projects at Arrowsmith, Muchea, and Boyatup in Western Australia.
As of 31 March 2023, the company had $3.303 million cash and cash equivalents at hand, according to its latest quarterly report published on 28 April 2023.
Write to Aaliyah Rogan at Mining.com.au
Images: VRX Silica Ltd