Intra Energy Corporation Limited (ASX: IEC), a leader in the energy sector, is thrilled to announce the acquisition of an 80% interest in the Maggie Hays Hill lithium project (MHH Project) in the prolific Lake Johnston region of Western Australia. This strategic acquisition from Global Uranium and Enrichment Limited (ASX: GUE) marks a significant step in IEC’s expansion into the lithium market.
The MHH Project, located 25 kilometres north of the recent Burmeister and Medcalf Spodumene discoveries, is positioned within the same geological sequences. This proximity to other successful lithium ventures, including the notable spodumene lithium discoveries at Burmeister Hill (TG Metals) and Lake Medcalf (Charger Minerals), underscores the project's potential.
A key feature of the MHH Project is the presence of outcropping pegmatites along a 2-kilometre trend, with an additional 5 kilometres under shallow cover. This geological setting is highly prospective for lithium exploration. In 2021, soil geochemistry conducted by GUE revealed a strong lithium in soil anomaly along this central trend, initially explored for gold.
The region's potential is further highlighted by the recent involvement of major industry players. Rio Tinto has entered into a partnership with Charger Minerals in the area, and Charger Minerals has acquired all of Lithium Australia’s interests in their joint venture tenements.
IEC’s acquisition of the MHH Project represents a strategic move to diversify and strengthen its portfolio in the burgeoning lithium market. The company is committed to exploring and developing this project, leveraging the area's rich geological potential to meet the growing global demand for lithium, a critical component in renewable energy technologies.
IEC Chairman, Graeme Robertson, commented:
“The acquisition of the MHH Project opens the exciting opportunity to IEC for advanced exploration for lithium, gold, and nickel in the well-known Maggie Hays Hill area of southern Western Australia. Initial work done by IEC and historical exploration has identified visible outcropping pegmatites with recently discovered spodumene deposits to the south providing potential for lithium.
As this is a more advanced area than other IEC exploration tenements, the Company proposes to launch an accelerated exploration program and intends to apply for the necessary permits to conduct drilling as soon as possible.”
Intra Energy Corporation (ASX:IEC) is an environmentally responsible, diversified mining and energy group with a core focus on battery, base and precious metals exploration to support the global decarbonisation and electrification for the clean energy future.