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Liontown Resources Ltd.

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Summary

Project:

Buldania

Deposit:Buldania
Location:Australia
Commodities:Lithium-Tantalum
Date:11/20/2018
Report Code:JORC
Report Type:Exploration/Drilling Update
Project Stage:Pursuing Resources Definition
Report details:20-11-2018: Liontown Resources Ltd. announces an Exploration/Drilling Update report for its Buldania deposit at the Buldania project. Drilling results incl. 30.0m @ 1.4% Li2O from 9.0m. Liontown Resources Limited (ASX: LTR) is pleased to advise that final
Resources:x
CP/QP:[Overall Report]: David Richards (Internal)
ABSTRACT:Liontown Resources Limited (ASX: LTR) is pleased to advise that final assays from a recently completed Reverse Circulation (RC) and diamond core drilling program have further expanded the scale of the emerging lithium discovery at its 100%-owned Buldania Lithium Project, extending the main zone of mineralisation over a confirmed strike length of at least 1.3 kilometres. The latest drilling has reinforced the potential of the Buldania Project as a potentially highly valuable and strategically located lithium project, with a clear pathway to advance it rapidly to a maiden Resource early next year. The latest assays have extended mineralisation at the main Anna pegmatite for at least another 450m to the south-east, for a continuous strike length of at least 1.3km with the system remaining open. 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 six RC holes (BDRC0091-0096) and the three diamond core holes (BDDD0001-0003) – see Appendices 1 and 2 for a full listing of significant drill statistics. The final six RC holes (BDRC0091-0096) of the program were designed to test for the south-eastern strike and depth extension of previously reported shallow mineralisation, and comprised 1-2 holes on 100m spaced, step-out lines. All but one of the drill holes recorded significant mineralisation (see Appendix 1) with the south-eastern most hole (BDRC0095) intersecting high-grade mineralisation (Figures 1 and 2), justifying follow-up drilling both across and along strike. The diamond core holes were designed to provide geological and geotechnical data and initial material for preliminary metallurgical test work. The shallow intersection in BDDD0003 (see Highlights) is located 50m from a previously reported intersection in BDRC0090 (39m @ 1.6% Li2O) and is interpreted to be the immediate strike extension of this intercept. Liontown’s Managing Director, David Richards, said the recently completed drilling had been successful in all of its objectives, delineating significant lithium mineralisation at the Anna pegmatite with clear potential for further growth. “Data from the latest program will be compiled and reviewed in order to prepare a maiden Mineral Resource estimate for the Anna pegmatite and plan further drilling,” Mr Richards said. “We are also planning to undertake drilling in the area 5-8km north-west of Anna where recent work, as outlined in our ASX release of 13th November 2018, has defined a number of spodumene-bearing pegmatites up to 800m long and 20m wide with assays up to 3.0% Li2O. “We now have a reasonable level of confidence that we have a lithium discovery of considerable scale and potential at Buldania, and we are looking forward to re-commencing drilling in Q1 2019 in parallel with the completion of a maiden Mineral Resource estimate,” he added

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