Intra Energy Corporation Ltd (ASX:IEC) has provided an addendum to a prior announcement, cautioning that visual estimates of mineral abundance are not a substitute for assay results.
The clarification is in regard to the company's October 4, 2023 news of its discovery of multiple pegmatites at the Llama Lithium Project in the prolific James Bay region, Québec, Canada.
Intra Energy’s first stage exploration program at Llama discovered multiple large scale pegmatite dykes with lithium-cesium-tantalum (LCT) affinities including the presence of the minerals beryl (beryllium) and columbite (niobium).
Today’s announcement provides a cautionary statement relating to visual estimates of mineral abundance and adds a table showing the location and observation of rock samples.
The cautionary statement reads: “Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations.”
Intra’s geological services partner in Canada, Dahrouge Geological Consulting (DGC) mapped about 52 kilometres of ground traverses and collected a total of 83 rock samples as it worked to identify drill targets.
The rock samples are now at the SGS Canada Inc. laboratory Ontario for a comprehensive multi-element analysis, including all lithium indicator elements. Results are expected back early in the December quarter.
Intra Energy managing director Benjamin Dunn said, “This is a terrific start to our maiden exploration campaign in Canada, identifying several highly prospective areas within the Llama Project area. Our patience has been rewarded and we thank the Dahrouge Geological Consulting team for their hard work and keen eyes, covering the area by foot.
“We await the results of the samples taken in the field which, along with planned LIDAR and Hyperspectral analysis, will focus the next round of fieldwork and set us up for what we believe will be a successful exploration campaign."