The 100,000-hectare Pellado property, 300km south of Santiago, adjoins the Maule property, which has an inferred resources of 140MW. Together,
Magma consultant Sinclair Knight Mertz estimates that the sites contain an inferred resource of 320MW.
Magma will invest $15m this year in an exploration program that will include two wells each on the Pellado and Maule properties.
Last year, slim hole drilling and a magnetotelluric geophysical program carried out by Magma discovered a large heat anomaly, known as the "Mariposa Geothermal Resource," that straddles the Pellado and Maule properties.
Magma
