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| | Tue Aug 9, 2005
Acquires Fourth Geothermal Project Crump Geyser, Oregon
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| | VANCOUVER, B.C. (August 9, 2005) -- Nevada Geothermal Power Inc. (NGP) (TSX-V: NGP, OTC-BB: NGLPF), today reported that they have acquired geothermal leases on 6500 acres of private land covering the "Crump Geyser" and an extensive hot spring system in southern, Oregon. The leases are on private land and NGP has free access on the surface for exploration and development and the right to lease land required for the plant site, production well field, pipelines and transmission line right of ways.
Geothermal assessments by the U.S. Department of Energy and the Federal Bureau of Land Management in 2003 ranked the Crump Geyser Known Geothermal Resource Area as highly favourable, (a "top pick") for near-term geothermal power development. In the mid 1980's, Gordon Bloomquist visited the site on behalf of the Bonneville Power Administration; at that time geothermometry indicated source water temperatures of 185 degreeC/365 degreeF and the resource potential was estimated at 85 MW.
"The new Crump Geyser geothermal project is an important acquisition for NGP and a new core holding", said Mr. Fairbank, CEO & President. "The addition of the Crump Geyser geothermal site to our resource base is strategic to NGP becoming a significant explorer and developer of geothermal power in the Western United States. The much anticipated new US Energy Bill which is expected to contain an improved Federal Production Tax Credit for geothermal, allowing a longer time frame to bring new geothermal power to market further enhances the timing of the Crump Geyser acquisition".
At Crump Geyser, a 1680-foot deep well drilled by Magma Power company (in 1959) spontaneously erupted a few days after it was abandoned by Magma. The well flowed 500 gallons/minute (30 litres/second) of boiling water 200 feet into the air continuously for 6 months before reverting to a spectacular geyser erupting at regular intervals. In the 1960's the well was plugged with rocks stemming the geyser flow, however boiling water still rumbles at depth and boiling water bubbles to the surface.
The Crump Geyser is located in the Warner Valley, Lake County, immediately and north of Adel, Oregon, 30 miles east of Lakeview, Oregon or 175 miles north of Winnemucca, Nevada. The Crump Geyser is within the northern part of the Basin and Range rift terrain which also hosts the Blue Mountain geothermal project. The Basin and Range region is characterized by relatively thin earth crust, high heat flow and deep penetrating extensional faults. The Crump Geyser and main hot springs occur on the NGP geothermal leases over a four mile interval at the base of a prominent range front faults scarp along the western edge of Warner Valley and out into the valley a distance of about 3000 feet. A separate 2600 acre area under lease to NGP called the northern geothermal zone covers extensive hot springs also occurring along prominent segmented extensional faults. Nevada. Regional transmission lines into Warner Valley connect to the Western Area Transmission Grid. The property is readily accessible by a paved highway which runs through the property.
Nevada Geothermal Power Inc. is a renewable energy company developing geothermal projects in the United States to provide electrical energy that is clean, efficient and sustainable. NGP is committed to the geothermal industry and currently owns a 100% leasehold interest in four properties: Blue Mountain, Pumpernickel, Black Warrior, all of which are ideally situated in Nevada and Crump Geyser in Oregon. An initial 30 MW power plant is planned to begin generating power at the Blue Mountain site in 2007 subject to further resource drilling and feasibility studies.
Brian D. Fairbank, P. Eng, CEO & President is a Qualified Person under National Instrument 43-101. |
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