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Liontown Resources Ltd.
Summary
| Project: | Kathleen Valley | |
|---|---|---|
| Deposit: | Kathleen Valley | |
| Location: | Australia | |
| Commodities: | Lithium-Tantalum | |
| Date: | 5/9/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 9-5-2019: Liontown Resources Ltd. announces an Exploration/Drilling Update report for its Kathleen Valley deposit at the Kathleen Valley project. Drilling results incl. 48m @ 1.5% Li2O, 110ppm Ta2O5 from 277m. 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 report new results from the ongoing resource expansion drilling at its 100%-owned Kathleen Valley Lithium-Tantalum Project in WA, where drilling continues to intersect thick zones of high-grade, mineralised pegmatite (Figure 1) and extend the mineralisation to the north-west well beyond the current Resource boundary. The latest assays (see Appendix 1 for full listing of drill statistics) combined with geological logging 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). This zone extends over a strike length of at least 600m and remains open to the north-west and at depth. 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.) The current drill program, which is expected to take another 1-2 weeks to complete, is designed to increase both the size of, and confidence in, the existing MRE by drilling immediately along strike, downdip and between previous intersections. | |
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