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Liontown Resources Ltd.
Summary
| Project: | Kathleen Valley | |
|---|---|---|
| Deposit: | Kathleen Valley | |
| Location: | Australia | |
| Commodities: | Lithium-Tantalum | |
| Date: | 2/20/2020 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 20-2-2020: Liontown Resources Ltd. announces an Exploration/Drilling Update report for its Kathleen Valley deposit at the Kathleen Valley project. Drilling results incl. 43m @ 3.1% Li2O, 56ppm Ta2O5 from 253m. Liontown Resources Limited (ASX: LTR, “Lionto | |
| Resources: | (Resource, Total): 139Mt @ 1.3% Li2O, 140ppm Ta2O5 | |
| CP/QP: | [Overall Report]: David Richards (Internal) | |
| ABSTRACT: | Liontown Resources Limited (ASX: LTR, “Liontown” or “Company”) is pleased to report further outstanding results from the ongoing resource in-fill and extensional drilling program at its 100%-owned Kathleen Valley Lithium-Tantalum Project in WA. The latest results, which include multiple individual metres grading >5% Li2O (see Appendix 1/KVRC0287 and Appendix 2/KVDD0048) and intercepts of up to 3.8% Li2O over 21m and 3.4% Li2O over 7m, continue to demonstrate the continuity of exceptionally high-grade mineralisation at Kathleen Valley, particularly in the north-west sector of the deposit where the mineralised system remains open (Figure 1). These significant new assay results follow the recent announcement of an interim upgrade in the MRE to 139Mt @ 1.3% Li2O and 140ppm Ta2O5, which represents an 86% increase from the previous MRE reported in July 2019. Given the high-grade nature of the latest results, Liontown has decided to extend the current drilling program to the north-west with drilling now expected to continue until mid-March 2020. In addition to testing for extensions of the high-grade mineralisation, drilling will also be completed to provide the in-fill data required to prepare a largely Measured and Indicated MRE. This MRE is scheduled for completion in late March/early April 2020 and will form the basis of a DFS. The DFS will examine extraction of ore, defined by the next MRE, from both an underground and open pit perspective which is anticipated to provide the best outcome for the project. | |
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