Intra Energy Corporation Ltd (ASX:IEC) is aligning itself with the global initiatives aimed at transitioning to cleaner energy by moving out of fossil fuels into battery metals.
The former African coal producer recently acquired the Llama Lithium Project in the emerging world-class lithium province of James Bay, Québec, Canada which will complement the company’s Yalgarra magmatic nickel-copper-cobalt-PGE project in Western Australia.
The Llama Lithium Project comprises 123 wholly owned mineral claims consolidated into one block covering about 63 square kilometres and sits within the greenstone rocks of the Dalmas and Escale formations.
While no historical geological exploration has been recorded on the project, the project is prospective for lithium from reviewing pegmatite occurrences within favourable host rocks throughout the region, with the appropriate indicator-mineralogy for hosting spodumene-bearing pegmatites.
As the world gears up for a cleaner, greener future, the transition towards electric vehicles (EVs) is gaining significant momentum.
Lithium, in particular, holds a central position as lithium-ion batteries are currently the go-to solution for EVs due to their high energy density, longevity and safety.
With countries and industries focusing on reducing their carbon footprint, the global market for EVs is set for exponential growth, which will directly impact the demand for lithium.
Llama is in good company at James Bay with multiple high-grade lithium discoveries and developing mining operations in close proximity:
- 40 kilometres from Winsome Resources Ltd (ASX:WR1)’s Adina Lithium Project;
- 120 kilometres from the Patriot Battery Metals Inc (TSX-V:PMET, OTCQX:PMETF, ASX:PMT)’s Corvette Project;
- James Bay Lithium Deposit of Allkem Ltd (ASX:AKE, OTC:OROCF, TSX:AKE); and
- Whabouchi Lithium Deposit of Nemaska Lithium Inc (TSX-V:NMX).
We're looking forward to working with you @JodyDahrougeLet's hope $IEC's Llama Project is the next big lithium find! https://t.co/9TjS1E6L2b
— IEC Limited (@IEC_Australia) May 22, 2023
IEC is planning to get onto the ground at Llama this month to undertake a detailed geological mapping and sampling program, in addition to the use of high-resolution aerial imagery and magnetics to define high-quality drill targets.
The company’s objective is to carry out a diamond drilling program by year-end.
Yalgarra Project
Let's not forget that IEC also holds fertile ground in Western Australia with its 70% owned Yalgarra magmatic nickel-copper-cobalt-PGE project that the company has been working on over the last 12 months.
IEC has planned to start further geophysics and groundwork at Yalgarra this month to identify drill targets.
The company will then take further steps to advance the project including heritage surveys and applications for drill permits.