HyTerra Expands Lease Position to 52,000 Acres at Nemaha Project, USA
Project Name: Nemaha Project
Project Location: Kansas, USA
Project Stage: Exploration
ProjectBank Summary:
HyTerra Limited (ASX: HYT) has expanded its lease position at the Nemaha Project in Kansas by acquiring an additional 13,000 acres, bringing the total leased area to approximately 52,000 acres. The newly acquired leases are supported by seismic data that identifies prospective subsurface features related to the Mid-Continent Rift and overlying sedimentary rocks. This expansion supports the upcoming drilling campaign, which is set to commence following the scheduled EGM in December, where shareholders will vote on a $21.9 million strategic investment by Fortescue.
HyTerra Highlights:
Expanded lease position to 52,000 acres at the Nemaha Project.
New leases selected based on seismic data, revealing promising subsurface features.
Drilling campaign expected to start soon after the EGM in December 2024.
Fortescue’s $21.9 million strategic investment to be voted on by shareholders.
MD/CEO Statement:
Dr. Avon McIntyre, Executive Director, commented: "Acquiring these additional leases has been a high priority for our team. The reprocessing of legacy seismic data has greatly improved our understanding of the subsurface and identified several promising drilling locations. We are excited to advance our drilling campaign and continue developing the Nemaha Project."
