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Liontown Resources Ltd.
Summary
| Project: | Bynoe | |
|---|---|---|
| Deposit: | Bynoe | |
| Location: | Australia | |
| Commodities: | Lithium | |
| Date: | 7/26/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 26-7-2016: Liontown Resources Ltd. announces an Exploration/Drilling Update report for its Bynoe deposit at the Bynoe project. Drilling results incl. 42m @ 1.0% Li2O from 93m. Liontown Resources Limited (ASX: LTR) is pleased to report encouraging initial | |
| Resources: | x | |
| CP/QP: | [Overall Report]: David Richards (Internal) | |
| ABSTRACT: | Liontown Resources Limited (ASX: LTR) is pleased to report encouraging initial assay results from its maiden drilling program at the Bynoe Lithium Project, located immediately south of Darwin in the Northern Territory (Figure 1), where it has confirmed the presence of thick zones of spodumene-related lithium mineralisation. The results, which included intercepts of 42m @ 1.0% Li2O from 93m in hole LBRC014 and 24m @ 1.1% Li2O from 70m in LBRC015, were returned from the Sandras’ prospect (Figures 2-5) where a pegmatite up to 40m thick and at least 300m long has been defined with strike extensions obscured by transported cover. Liontown completed its maiden drilling program in early July with 21 Reverse Circulation holes drilled for 2,170m at 10 prospects. The drilling was designed to intersect previously defined Sn-Ta pegmatites beneath the weathering profile, where spodumene mineralisation would be preserved. It is important to note that the breakdown of spodumene during weathering commonly results in lower Li2O values near surface. Assays have been received for 8 of the 10 targets drilled with results pending for the Bilatos South and Talmina West prospects (Figure 2). To date, plus 1% Li2O values have been intersected at five of the prospects (see Appendix 1), indicating that lithium mineralisation is widespread at the project and enhancing the potential for an economic discovery. | |
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