As far as I know, the geothermal leases on Mt. Cayley lapsed, and have not yet been offered again to Companies by the Government.
The way it works is that a Company can propose to the Government that a given area be offered in a call for bids for a geothermal lease in a given area. There is then a public competition for that ground, and the entity that offers the most money for that area wins and then has the exclusive rights for 7 or 8 years to explore the ground.
As I recall, there are currently five active geothermal leases in the Province- one in the Knight Inlet area, which is of questionable value because it is too far from any interconnection point, and the potential resource is in too rugged an area to explore. Another is in the Kinbasket Lake area- but it is of questionable value (the geochemistry suggests it isn't hot enough, it doesn't appear to be big enough, and it is in the middle of a B.C. Hydro reservoir).
Another two are in the Pebble Creek hotsprings area of Mt. Meager- one covers peripheral ground to the vent deposits high up in the mountains and would be extremely difficult and expensive to evaluate, but the second, lower elevation lease could really be a winner. There is also an older lease a little to the south of Pebble Creek hotsprings that is due to expire in a couple of years.
There was another lease proposed for the Sloquet Hotsprings area, but I'm not sure whether it has been offered for lease.
Finally, there is a geothermal lease that covers the southwest part of the Meager complex- this is where B.C. Hydro and then various private entities, including the last one, Western Geopower, explored but have so far not found a viable resource. In my estimation, this area also still has good potential- if the goat and grizzly bear issues can be resolved.
Anyway, this was all written from memory- but there are various B.C. Government WEB sites that go into this in more detail, and show where the active leases are.