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Liontown Resources Ltd.
Summary
| Project: | Kathleen Valley | |
|---|---|---|
| Deposit: | Kathleen Valley | |
| Location: | Australia | |
| Commodities: | Lithium-Tantalum | |
| Date: | 4/29/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 29-4-2019: Liontown Resources Ltd. announces an Exploration/Drilling Update report for its Kathleen Valley deposit at the Kathleen Valley project. Drilling results incl. 52m @ 1.4% Li2O from 199m. Liontown Resources Limited (ASX: LTR, “Liontown” or “Compa | |
| 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 advise that ongoing resource expansion drilling at its 100%-owned Kathleen Valley Lithium-Tantalum Project in WA has continued to intersect thick zones of high-grade, mineralised pegmatite (Figure 1), highlighting the potential for significant growth in the Resource. The latest drilling results (see Appendix 1 for full listing of drill statistics) 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 (~400 ) pegmatite body (Figure 2). Liontown previously announced (see ASX release dated 4th April 2019) that it had updated its Exploration Target for Kathleen Valley and that it was targeting an additional 15 – 22.5Mt @ 1.2 – 1.5% Li2O; however, the latest drilling has resulted in the Company further increasing its Exploration Target to 19 – 31Mt @ 1.2 – 1.5% Li2O* which is in addition to the current MRE of 21.2Mt @ 1.4% Li2O. If the Exploration Target is successfully converted to JORC compliant Mineral Resources, it 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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