The lease agreement covers interests in certain private, state and federal lands in southwestern Utah. The terms of the agreement were not specified.
The Copper King Mining properties demonstrate many of the important factors considered by Raser in preliminary evaluation of geothermal resources.
With this lease, Raser continues to expand its holdings in this geothermally active part of the State, said Richard Clayton, Raser’s executive vice president. We are pleased to be working with Copper King and obtaining access to their extensive land portfolio and geological data on their large land holdings. We look forward to working closely with Copper King to develop the full geothermal potential of their land holdings.
Copper King Chief Executive Officer Mark Dotson said: Since Copper King is a mining and mineral exploration company, we felt it was wise to let Raser explore our lands for the geothermal resources that we believe may be present. Copper King believes that Raser is a cutting-edge company, and we are excited to work with them.
