IEC completes heritage clearance survey at its Maggie Hays Hill project
Survey will clear the way for drilling to test for lithium spodumene and/or gold deposits
2000m drill program will start shortly after the heritage clearance is approved
Special Report: Intra Energy Corporation is a step closer towards drilling at its high priority Maggie Hays Hill project near Esperance in WA after successfully completing a heritage clearance survey.
The 80%-owned Maggie Hays project covers 49km2 of ground and is adjacent to the Norseman-Hyden road and Poseidon Nickel’s (ASX:POS) Maggie Hays and Emily Ann nickel mines.
This region has seen a great deal of activity with Rio Tinto (ASX:RIO) farming into Charger Metals’ (ASX:CHR) tenements in a potential $42.5m deal as well as CHR acquiring all of Lithium Australia’s (ASX:LIT) joint venture tenements.
A lithium discovery by TG Metals (ASX:TG6) last year sparked a rush of interest in the region, with market giant Mineral Resources (ASX:MIN) briefly considering plans to purchase Poseidon’s Lake Johnston plant and convert it to process the locale’s spodumene bounty.
Maggie Hays boasts faulted mafic and ultramafic rocks that are prospective for gold, lithium and nickel.
Recent soil sampling by Intra Energy Corporation (ASX:IEC) has defined a strong anomaly – with gold values between 15 parts per billion and 85ppb – that is about 700m long and 100-170m wide along a mineralised trend that extends 1km to the north.
Along with recent assay results from the Central gold zone that confirmed historical trenching and drilling results, the company believes there is great potential for a gold discovery.
Field mapping has also identified quartz reefs occupying dilational jogs along the shear zone, which are strongly correlated with the elevated gold results.
The project is 25km north of TG Metals’ Burmeister Hill and CHR’s Lake Medcalf lithium spodumene discoveries.
Lake Johnston lithium province showing spodumene discoveries and tenement holdings. Pic: Intra Energy Corporation
Heritage survey
IEC has now completed the heritage clearance survey over the 2.5km long Southern pegmatite lithium target – a soil and outcrop anomaly akin to Burmeister – as well as the central and northern gold targets.
The completed survey is a critical step forward in the company’s exploration strategy as it facilitates the forthcoming drilling program aimed at discovering spodumene and/or gold deposits.
“Pending the final report, this survey has the potential to enable the company to start drilling at the project in a few weeks’ time. Early success from the program would allow us to keep drilling uninterrupted for next 6-12 months,” managing director Ben Dunn said.
“The company has planned a 2000 metre reverse circulation (RC) drilling program, agreed terms with a drilling contractor and is in the process of finalising contract. Operations are expected to commence promptly following receipt of the final survey report.”
This article was developed in collaboration with Intra Energy Corporation, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
The post IEC completes heritage work for Maggie Hays Hill appeared first on Stockhead.
