Intra Energy Corporation Obtains PoW Clearance for Drilling Lithium and Gold at Maggie Hays Hills

Intra Energy Corporation Limited (ASX: IEC), referred to as "IEC" or the "Company," is delighted to announce the receipt of Program of Works ("POW") approval from DEMIRS for the Maggie Hays Hill ("MHH") project (tenement E63/2039). The project is located within the Lake Johnston Greenstone Belt in Western Australia.

The forthcoming drilling initiative is informed by a comprehensive soil geochemical survey, mapping, and rock sampling program undertaken subsequent to the project acquisition in late January 2024.

The exploration initiative detected exposed pegmatites showcasing significantly elevated lithium (500ppm), tantalum (107ppm), niobium (57ppm), and caesium (139ppm) levels, characteristic of Lithium-Caesium-Tantalum (LCT) mineralization, suggesting a conducive environment for spodumene crystallization. These pegmatites are visible along a 2.5km trend and reach widths of up to 50 meters at the southern extremity of the tenement.

Additionally, the exploration initiative revealed numerous exposed quartz reefs measuring 1-4 meters wide in the central and southern regions of the tenement. Rock samples retrieved from these areas displayed grades reaching up to 17 g/t, aligning with historical drilling that previously intersected 2 meters at 11 g/t gold from a depth of 26 meters.

Benjamin Dunn, the Managing Director, remarked, "We eagerly anticipated securing this crucial approval, marking a significant stride towards drilling at Maggie Hays Hills. Our exploration efforts thus far have unveiled several promising lithium pegmatite and gold in quartz reef outcroppings, indicating substantial potential. We are collaborating closely with the Ngadju Native Title Group to accelerate the heritage clearance process required for drilling initiation. The survey is slated for late May, and pending clearance, drilling is anticipated to begin by mid-June. We will provide an update once heritage clearance is confirmed."

The Company has 50 infill soil samples and 12 rock samples undergoing analysis at the laboratory, with results anticipated within the next two weeks. The Heritage survey is set for May 30th, and outcomes will be available shortly afterward. Drilling is scheduled to begin in Mid-June, with initial results projected to be accessible by mid-July.

The Maggie Hays Hill project (80%) is situated near the Norseman-Hyden Road, alongside the Maggie Hays and Emily Anne nickel mines (ASX: POS) and the Windy Hill camp. Access to the project area is facilitated by well-established tracks, particularly in the southern region. Geologically, the area features extensively faulted NNW trending mafic and ultramafic rocks, bordered by younger granitic formations to the west and east. The project exhibits potential for lithium, nickel, and gold exploration.

The Maggie Hays Hill project is strategically located, positioned 25 kilometers north of significant spodumene lithium discoveries at Burmeister Hill (ASX: TG6) and Lake Medcalf (ASX: CHR). Additionally, there are notable lithium mica (lepidolite) pegmatites at Mt. Day, merely 10 kilometers north of the MHH project. Recent developments include Rio Tinto's investment in Charger Metals' tenements in the region, along with Charger Metals' acquisition of Lithium Australia's interests in their joint venture tenements. Lithium spodumene targets in the project area consist of a series of pegmatite dykes that prominently outcrop along a 2.5-kilometer north-northwest trend. Geological mapping reveals that these dykes are closely associated with an amphibolite ultramafic unit, spanning 7 kilometers across the tenement. Soil sampling conducted in 2021 detected lithium anomalism adjacent to the 2-kilometer pegmatite trend and extending a further 2.5 kilometers northward along a 5-kilometer trend. Moreover, there exists potential for pegmatites to the east and north. A crucial aspect of the lithium prospectivity lies in the coexistence of spodumene and lepidolite in the same mafic rock sequence, both to the north and south of the tenement, indicating the presence of multiple LCT fertile granitoids in the area.