VRX Silica has entered into a Farm-in and Joint Venture Agreement with Hydro X for Geothermal Exploration Permit 44 (GEP 44) at the Dandaragan site in Western Australia.
GEP 44 consists of eight contiguous blocks including the Walyering gas field. The project provides an alternative energy solution for the silica sand assets of VRX Silica and its long-term ambitions of glass production in Western Australia. The permit was granted in July 2023 and has a term of six years.
The joint venture provides Hydro X with an exploration play with the expertise on hand to develop untapped geothermal resources for a planned entry into the Australian Stock Exchange as Steam Resources (Steam). The permit also represents a unique development opportunity for geothermal energy production in Western Australia which will complement other assets in the Northern Territory and South Australia.