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Liontown Resources Ltd.
Summary
| Project: | Kathleen Valley | |
|---|---|---|
| Deposit: | Kathleen Valley | |
| Location: | Australia | |
| Commodities: | Lithium-Tantalum | |
| Date: | 5/20/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 20-5-2019: Liontown Resources Ltd. announces an Exploration/Drilling Update report for its Kathleen Valley deposit at the Kathleen Valley project. Drilling results incl. 90m @ 1.3% Li2O, 78ppm Ta2O5 from 209m. Liontown Resources Limited (ASX: LTR, “Lionto | |
| Resources: | (Resource, Total): 21.2Mt @ 1.4% Li2O, 170ppm Ta2O5 | |
| CP/QP: | [Overall Report]: David Richards (Internal) | |
| ABSTRACT: | Liontown Resources Limited (ASX: LTR, “Liontown” or “Company”) is pleased to announce a record intercept of 90m grading 1.3% Li2O from 209m down-hole from the ongoing resource expansion drilling program at its 100%-owned Kathleen Valley Lithium-Tantalum Project in WA. This is the best intercept recorded at Kathleen Valley, eclipsing the previous best intercept of 52m at 1.4% Li2O from 199m announced on 29 April 2019 and adding momentum to the current drilling program which continues to intersect thick zones of high-grade, mineralised pegmatite (Figure 1) and extend the mineralisation well beyond the current Resource boundary. The latest assays (see Appendix 1 for full listing of drill statistics), combined with geological logging of recently completed drill-holes, indicate that the shallow-dipping Kathleen’s Corner pegmatites are merging with the Mt Mann pegmatites at depth to form a thick (>30m), moderately dipping pegmatite body (Figures 2 and 3). This body remains open to the north-west and at depth, has been intersected over a strike length of at least 600m, and is interpreted to be the feeder zone for the Kathleen Valley pegmatites. This feeder zone is part of larger high-grade mineralised system which has now been defined over a strike length of at least 900m. The latest data supports Liontown’s previously announced increased Exploration Target of 19 – 31Mt @ 1.2 – 1.5% Li2O* (see ASX release dated 29th April 2019). This target is in addition to the maiden MRE of 21.2Mt @ 1.4% Li2O and, if successfully converted to JORC compliant Mineral Resources, could substantially extend the potential mine life. (*The potential grade and tonnage of the Exploration Target referred to above is conceptual in nature and there has been insufficient exploration to estimate an increased Mineral Resource. It is uncertain if further exploration will result in the estimation of an increased Mineral Resource. See Appendix 2 for full explanation of the assumptions used to estimate ranges.) | |
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