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Geothermal energy has become a key focus of energy transition strategies because of its significant advantages, particularly for islands that experience increased energy consumption during the summer. A comprehensive geological and geophysical survey, utilizing gravity and magnetic methods, was conducted to assess the geothermal potential of the Petra area in northern Lesvos Island. The survey targeted faults and lateral inhomogeneities, which can facilitate hydrothermal circulation and are characterized by areas of low density and magnetization resulting from rock alteration and oxidation. The design of the new land gravity and magnetic measurements was based on the analysis of available geological and geophysical data, ensuring coverage of the main tectonic and geological features. The integration of these geophysical surveys with geological field mapping including drone imagery helped to provide a qualitative analysis of the subsurface and produced residual regional maps that contributed to 3D models of geological structures, highlighting geothermally altered zones. Based on these findings, two areas for geothermal boreholes have been proposed.