Perth, Western Australia – Intra Energy Corporation Limited (ASX: IEC), an environmentally responsible, diversified mining and energy group is excited to announce the discovery of significant new gold anomalies at its Maggie Hays Hill Project (MHH), located in the prolific Lake Johnston Greenstone Belt, Western Australia. These findings, derived from extensive mapping and soil sampling programs, mark a significant milestone in the exploration of the area, which is strategically positioned adjacent to the Maggie Hays mine and the future regional lithium processing hub established by Mineral Resources Limited (ASX: MRL).
New Quartz Veins Identified
Recent exploration efforts have unveiled two parallel mineralised quartz veins, each extending over 200 metres in length, with rock chip assays revealing gold concentrations ranging from 0.8 g/t to an impressive 17.8 g/t. Further mapping has identified additional quartz veins 100 metres to the east, extending the known mineralisation with a strike length of over 200 metres. These findings suggest the presence of a larger mineralised system, with veins open along strike for significant distances. The company eagerly anticipates the assay results of multiple samples submitted, expected in April.
Extensive Gold Anomalism Revealed by Soil Sampling
A comprehensive soil sampling program has uncovered a large-scale gold anomaly spanning a 650 metre by 150 metre area, with gold concentrations ranging from 12 ppb to 44 ppb. This anomaly, situated in mafic rocks adjacent to a major fault, highlights the gold prospectivity of the region and is open to further exploration to the north. IEC plans to conduct additional mapping and infill sampling to refine drilling targets in the upcoming quarter.
A Strategic Position Amidst Lithium Discoveries
The gold discoveries at MHH complement the existing lithium drill targets in the region, positioning IEC at the forefront of exploration in an area known for its rich mineral deposits. The Project's proximity to significant lithium deposits and the future lithium processing hub by Mineral Resources Limited underscores the strategic importance of these findings.
Upcoming Exploration and Development Activities
IEC is finalising heritage surveys and drilling programs to further explore the potential of the newly identified mineralised zones. These efforts are part of the company's commitment to advancing its exploration projects and delivering value to its shareholders.
IEC Managing Director, Ben Dunn, commented,
“The current gold exploration program being conducted by our Principal Geologist, Todd Hibberd, has been very successful, identifying multiple mineralised quartz veins, and a large gold in soil anomaly. All this work has been achieved in the two months since we acquired Maggie Hays and we will continue to work quickly and efficiently to unlock shareholder value in this very promising Project.
We note with some excitement that Mineral Resources Limited intends to develop a regional lithium processing hub only 12 kilometres north of our lithium project. The acquisition of the Maggie Hays Hill Project looks increasingly timely and remarkably good value, with the opportunity for both gold and lithium discoveries in a region with the ability to process both.
Beyond the gold exploration, we have identified multiple outcropping pegmatites, the presence of spodumene, and multiple large scale lithium anomalies. The Company is confident that the assay results for the remaining part of the current soils program will identify further drill targets.
Todd is now focused on finalising our drilling campaign and we intend to test these targets in the June quarter.
Watch this space!”
About us:
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.
Contact details:
Jane Morgan
jm@janemorganmanagement.com.au