The Condoroma exploration concession consists of a 900-hectare parcel located in the Department of Cusco, and is centered on a string of active thermal springs 3km in length with the measured surface temperature of 58 degrees Celsius and significant observed water discharge.
Mustang said it believes that a significant geothermal potential exists in the area and is poised to embark on rapid exploration and development to meet the growing power needs in the region.
Mustang owns a 100% interest in 8,041 hectares of federal geothermal leases in six project areas in the US state of Nevada and holds 3,600 hectares of geothermal exploration concessions in four project areas in Peru.
The company also owns a 100% interest in the La Jara Mesa Extension uranium property consisting of 137 unpatented mining claims in the Grants Mining District of Cibola County in New Mexico, US.
