Intra Energy Corporation (ASX: IEC) has secured a further coal exploration licence in Malawi that complements the Ngana East lease it was granted in March this year.
Importantly, the 50.2 square kilometre Ngana West lease gives the company access to all known coal resources in the Ngana Coalfield.
Historical exploration has been undertaken over the lease, principally under the guidance of the Malawian Geological Survey, that indicates the new lease hosts large, shallow coal resources.
The company recently carried out exploration mapping as part of a sponsored due diligence program and has located numerous outcropping coal seams throughout the lease area with good quality thermal properties and a range of physical properties making it suitable for future open cut mining.
It will start detailed and systematic exploration of the leases to quantify and qualify the resources.
Separately, IEC had recently announced a JORC resource of 23.9 million tonnes of coal at Kopakopa within the North Rukuru lease EPL0376/2013.
A further JORC resource evaluation is underway in the company’s Nkhachira Mine lease ML0143/2005 and surrounding EPL0174/05R.
These coal resources are well situated for supplying Malawian coal to an IEC sponsored thermal coal fired power to be developed at Chipoka in Malawi’s Central Region.
Malcoal is currently mining from the Nkhachira Mine in ML0143/2005 and has contracts to supply domestic industrial users including agricultural processors and breweries.
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