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BREAKTHROUGH MINERALS LIMITED — Capital/Financing Update 2016
Jul 18, 2016
64579_rns_2016-07-18_a4b7094a-72c1-4851-94f0-2fe2ca755ef3.pdf
Capital/Financing Update
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ASX Release 19 July 2016
INTRA ENERGY COMMENCES ENERGY DIVERSIFICATION STRATEGY
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Intra Energy Corporation Limited (ASX: IEC) (“IEC” or “Company”) has commenced its energy diversification program in East Africa to provide shareholders greater optionality over its current coal operations.
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IEC’s principal focus will be battery development materials such as lithium and graphite, and renewable power.
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IEC’s subsidiary Tancoal, is currently working with SinoHydro from China in the development of the Ngaka thermal power station. Tancoal is the only operating coal mine in Tanzania and supplies to industrial operators.
Intra Energy Awarded New Lithium Exploration Licences In Tanzania
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IEC has secured interests in a portfolio of lithium tenements in Tanzania
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Three licences have been awarded initially, located in the highly prospective Dodoma region, near Auroch Minerals (ASX: AOU) Hombolo and Liontown Resources (ASX: LTR) Mohanda projects.
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The licences are located within 50km of the national capital, Dodoma, providing an excellent infrastructure for exploration after the initial survey in May/June.
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Reported grades from adjacent Liontown Resources areas are up to 5.2% Li2O in pegmatites.
IEC is pleased to advise that it has commenced exploring for Lithium in Tanzania. The move into Lithium is a part of the Company’s diversification strategy into battery storage and renewable energy to supplement its existing significant energy development plans in East Africa.
The initial focus is on three Lithium prospecting licenses (PL11168/2016, PL11175/2016, and PL11176/2016) awarded to IEC’s subsidiary Intra Energy (Tanzania) Ltd, which cover an area of 131.47km[2] .
The licenses are located to the north and east of the capital Dodoma in central Tanzania, within the rocks of the Dodoman system, in an elongated belt trending west-northwest. Lease PL11168/2016 lies near the Hombolo Lithium bearing pegmatite, under tenure by Auroch Minerals Limited (ASX: AOU), and Liontown Resources Limited’s (ASX:LTR) Mohanda Lithium-Tantalum project, where significant Lithium and Tantalum grades have been reported from sampling. The IEC lease areas are characterized by felsic intrusive rocks including granites and pegmatites, and preliminary reconnaissance work conducted within PL11168/2016 has indicated the presence of pegmatites. Sampling and analysis has not been carried out at this point but commencement of detailed field exploration across all licenses is being implemented.
IEC views Lithium as an important component in the battery storage industry and believes its importance in this area will continue to support demand of the mineral along with current international renewable energy trends.
In addition to this significant development in IEC’s business, there have been discussions between the Company and a number of parties who have a similar and complimentary interest to develop renewable energy projects in East Africa.
Chairman Graeme Robertson commented “IEC is expanding its business interests from coal to other energy sources, in particular battery development materials, lithium and graphite, and renewables, wind and solar. This is designed to offer shareholders alternatives in the field of energy while still focussing on the ongoing and expanding coal production and supply activities.”
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Location of IEC Lithium Prospecting Licenses
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Pegmatite Outcrop in PL11168/2016
ENDS
Shareholder Enquiries
Mark McAndrew Acting Chief Executive Officer Intra Energy Corporation Limited [email protected] www.intraenergycorp.com.au Registered Office: Level 40, 2 Park Street, Sydney NSW 2000 Postal Address: PO Box 1930, North Sydney NSW 2059
About Intra Energy
Intra Energy is an environmentally responsible, diversified mining and energy group, focused on Eastern Africa, and is listed on the Australian Stock Exchange (ASX:IEC). IEC is a developer and producer of thermal coal in Eastern Africa operating under the motto of “African coal for African growth” and is the only operating thermal coal miner in Eastern Africa. Its flagship coal project is the Tancoal mine in the Ngaka coalfield of Tanzania, operated by Tancoal Energy Limited, a joint venture with the National Development Corporation of Tanzania.
Intra Energy has made significant progress with its Eastern African regional expansion strategy into new mining and renewable energy projects and battery storage materials, and maintains cost effective and efficient operations to remain a low cost producer in this dynamically growing region where it occupies the prime supply position.