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Liontown Resources Ltd.
Summary
| Project: | Buldania | |
|---|---|---|
| Deposit: | Anna | |
| Location: | Australia | |
| Commodities: | Lithium-Tantalum | |
| Date: | 11/1/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 1-11-2018: Liontown Resources Ltd. announces an Exploration/Drilling Update report for its Anna deposit at the Buldania project. Drilling results incl. 39.0m @ 1.6% Li2O from 9.0m. Liontown Resources Limited (ASX: LTR) is pleased to advise that it has con | |
| Resources: | x | |
| CP/QP: | [Overall Report]: David Richards (Internal) | |
| ABSTRACT: | Liontown Resources Limited (ASX: LTR) is pleased to advise that it has confirmed significant extensions to the emerging lithium discovery at its 100%-owned Buldania Project after receiving further highly encouraging assays from the second phase of Reverse Circulation (RC) drilling. The latest assays have extended mineralisation for at least another 200m to the south-east, confirming that the mineralisation extends over a continuous strike length of at least 850 metres. In addition, step-out drilling comprising single holes on 100m spaced lines has intersected spodumenebearing pegmatites for a further 500m to the south-east, bringing the total possible strike extent to at least 1.3km (Figure 1). Assays are pending for these holes. The recently completed second phase of drilling comprised 60 RC holes (BDRC0037-0096) for 7,670m and three HQ diamond core holes (BDDD0001-0003) for 548.5m. Since acquiring the Buldania Project in late 2017, Liontown has drilled a total of 99 holes for 11,557.5m. Assays have been received for a further 29 RC holes (BDRC0062-0090) – see Appendix 1 for a full listing of significant drill statistics. Assays are pending for six RC holes (BDRC0091-0096) and the three diamond core holes. The latest results indicate multiple, southeast striking, lithium-mineralised pegmatites, which have now been intersected over a total strike length of 1.3km (Figure 1) and to a vertical depth of 200m. At the northwest end of the mineralised system the pegmatites dip shallowly - moderately to the southwest (Figure 2). Towards the southeast where the pegmatites plunge under cover, the dip appears to flatten. Data from the latest program will be reviewed before planning more drilling at Buldania. Geological modelling is also ongoing as a pre-cursor to preparing a maiden Mineral Resource estimate. When completed, this will be Liontown’s second JORC compliant lithium Mineral Resource in WA following the recently announced maiden Mineral Resource for the Kathleen Valley Project (see ASX announcement, 4 September 2018). | |
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