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Liontown Resources Ltd.
Summary
| Project: | Kathleen Valley | |
|---|---|---|
| Deposit: | Kathleen Valley | |
| Location: | Australia | |
| Commodities: | Lithium-Tantalum | |
| Date: | 7/9/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 9-7-2019: Liontown Resources Ltd. announces a Resource Estimation report for its Kathleen Valley deposit at the Kathleen Valley project. Kathleen Valley lithium resource increases by 353%. Liontown Resources Limited (ASX: LTR – “Liontown” or “the Company” | |
| Resources: | (Resource, Total): 74.9Mt @ 1.3% Li2O, 140ppm Ta2O5 | |
| CP/QP: | [Resources]: Christine Standing (Optiro Pty Ltd.) | |
| ABSTRACT: | Liontown Resources Limited (ASX: LTR – “Liontown” or “the Company”) is pleased to advise that it has taken a major step towards its objective of developing a high-quality, long-life lithium-tantalum mining operation in Western Australia with the announcement of a substantial increase in the Mineral Resource for its 100%-owned Kathleen Valley Lithium Project, located 670km north-east of Perth (Figure 1). The Measured, Indicated and Inferred Mineral Resource, which was prepared by independent specialist resource and mining consulting group Optiro Pty Ltd (“Optiro”), comprises 74.9Mt @ 1.3% Li2O and 140ppm Ta2O5. The Mineral Resource estimate is reported and classified in accordance with the guidelines of the 2012 Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code; 2012). The updated Mineral Resource Estimate (MRE), which incorporates the results of the highly successful resource expansion drilling program completed this year, represents an increase of 353% in tonnes compared with the maiden Mineral Resource announced in September 2018. The updated MRE now comprises 0.97Mt of contained lithium oxide and 23Mlbs of contained tantalite. Using the benchmark Lithium Carbonate Equivalent (LCE) measure, the resource contains 2.5Mt of LCE, underlining its position as one of the few new, significant lithium projects of scale currently being progressed towards development in Australia over the next 2-3 years. | |
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