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Liontown Resources Ltd.
Summary
| Project: | Kathleen Valley | |
|---|---|---|
| Deposit: | Kathleen Valley | |
| Location: | Australia | |
| Commodities: | Lithium-Tantalum | |
| Date: | 4/4/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 4-4-2019: Liontown Resources Ltd. announces an Exploration/Drilling Update report for its Kathleen Valley deposit at the Kathleen Valley project. Drilling results incl. 31m @ 1.7% Li2O from 192m. The current drill program is expected to take another 4-6 w | |
| Resources: | (Resource, Total): 21.2Mt @ 1.4% Li2O, 170ppm Ta2O5 | |
| CP/QP: | [Overall Report]: David Richards (Internal) | |
| ABSTRACT: | The current drill program is expected to take another 4-6 weeks to complete and is designed to increase both the size of, and confidence in, the existing MRE by drilling immediately along strike, down-dip and between previous intersections. Liontown previously announced (see ASX release dated 29th January 2019) that it was targeting an additional 8.5 – 16Mt @ 1.2 – 1.5% Li2O at Kathleen Valley; however, the latest drilling has resulted in the Company substantially increasing its Exploration Target to 15 – 22.5Mt @ 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.) Since drilling re-commenced in February 2019, a further 66 RC holes have been drilled, including five reentries, for 11,836m. This brings the total amount of drilling completed by Liontown at Kathleen Valley to 255 holes for 35,069m, comprising 213 RC holes for 30,507m and 42 diamond core holes for 4,562m. The latest drilling and assays (Appendix 1) are consistent with previously announced results and indicate that: | |
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