The company, based in Vancouver, Canada, says that temperatures exceeded 200 degrees celsius at a depth of 650 meters below surface.
Drilling of the $1.6mn slim hole followed a $400,000 magneto-telluric geophysical program carried out in March, which outlined a large anomaly in the vicinity of surface fumaroles sampled by Magma earlier in the year.
Gas and steam condensate samples from these fumaroles were analyzed and indicate that deep reservoir temperatures may exceed 290 degrees celsius.
Analysis
