Intra Energy Corporation Ltd (ASX:IEC) has discovered some large-scale mineralised quartz reefs hosting high-grade gold at Maggie Hays Hill (MHH) Project, within the Lake Johnston Greenstone Belt in Western Australia.
Recent assay results have confirmed the presence of high gold grades across 11 rock chip samples collected over March and April, averaging 2.56 g/t, with a peak assay reaching 7.6 g/t.
This substantiates the gold potential at MHH, with three separate parallel quartz reefs now identified, each extending over 250 metres.
Compelling targets
IEC has also highlighted compelling targets for gold and lithium at the project, following a soil sampling program that unearthed two large-scale gold anomalies.
The northern anomaly stretches across 1,500 metres by 150 metres with gold grades averaging 30 parts per billion (ppb), ranging from 15-44 ppb.
A southern gold anomaly lines up along strike from the central quartz reefs, showing an average grade of 31 ppb.
“The board is pleased with how quickly Todd Hibberd’s exploration program has advanced the Maggie Hays Hill Project to compelling drill targets for both gold and lithium,” said managing director Ben Dunn.
“We are now working to obtain the necessary permits and heritage clearances, and intend to be drilling by mid-June, subject to approvals.
“Todd has conducted a comprehensive exploration program and now has designed a drill campaign that will thoroughly test the identified targets.
“We believe exciting times are close at hand for IEC’s loyal shareholders as the next phase of exploration commences.”
Forward exploration program
The exploration team plans to begin drilling in mid-June 2024, pending the successful acquisition of heritage clearances and drilling permits.
This next phase aims to thoroughly test the identified targets, potentially heralding an exciting period for IEC’s stakeholders as the exploration advances.
IEC is in the process of acquiring heritage clearances and drilling permits.
An initial deposit for the heritage survey has been paid and the survey is expected to kick off on May 30.
The drilling permit is currently with the Department of Mines, Industry Regulation, Energy, and Safety (DMIRS) and a response is expected in the next two weeks.
About Maggie Hays Hill
The MHH Project, primarily prospective for lithium, nickel and gold, is near the Maggie Hays and Emily Anne nickel mines and spans areas with extensively faulted mafic and ultramafic rock formations.
Adjacent to this, younger granitic rocks are present to the west and east. The 80%-owned project is accessible via well-established tracks and is just 25 kilometres north of recent spodumene lithium discoveries at Burmeister Hill and Lake Medcalf.
It also lies near lithium mica pegmatites at Mt Day, 10 kilometres north. The region’s geological setting features a series of pegmatite dykes across a 2-kilometre trend, with potential lithium-bearing areas extending a further 2.5 kilometres.
Recent commercial activities include Rio Tinto farming into Charger Metals tenements and Charger acquiring Lithium Australia's interests in the joint venture tenements, indicating growing industrial interest in this area.