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Liontown Resources Ltd.
Summary
| Project: | Kathleen Valley | |
|---|---|---|
| Deposit: | Kathleen Valley | |
| Location: | Australia | |
| Commodities: | Lithium-Tantalum | |
| Date: | 2/5/2020 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 5-2-2020: Liontown Resources Ltd. announces an Exploration/Drilling Update report for its Kathleen Valley deposit at the Kathleen Valley project. Drilling results incl. 58m @ 1.3% Li2O from 318m. Liontown Resources Limited (ASX: LTR, “Liontown” or “Compan | |
| Resources: | (Resource); 74.9Mt @ 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 expansion drilling program at its 100%-owned Kathleen Valley Lithium-Tantalum Project in WA. The latest assay results, which include high-grade intercepts up to 3.8% Li2O over 10.4m and 2% Li2O over 33.4m, have confirmed the continuity of the Kathleen Valley mineralised system which has now been defined over at least 1.7km with mineralisation remaining open along strike and at depth. Liontown previously announced that the current drilling program was designed to test for a resource extension Exploration Target of 25 – 50Mt @ 1.2 – 1.5% Li2O, which was in addition to the MRE (74.9Mt @ 1.3% Li2O and 130ppm Ta2O5) released in July 2019. (The potential grade and tonnage of the Exploration Target is conceptual in nature and there has been insufficient exploration to estimate an expanded Mineral Resource. It is uncertain if further exploration will result in the estimation of an expanded Mineral Resource. See Table 1 for full explanation of assumptions used to estimate ranges.) The Company believes that it now has sufficient data to prepare an interim MRE update, which will determine whether the Exploration Target has been achieved. Independent resource consulting group Optiro Pty Ltd has been engaged to prepare this update. The interim MRE update may include a large Inferred component; however, infill drilling utilising up to five drill rigs will continue until the end of February to provide the data to prepare a final MRE which should be largely Measured and Indicated and a suitable basis for a Definitive Feasibility Study (DFS) due to start later this year. | |
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