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Liontown Resources Ltd.
Summary
| Project: | Toolebuc | |
|---|---|---|
| Deposit: | Cambridge | |
| Location: | Australia | |
| Commodities: | Vanadium-Molybdenum | |
| Date: | 7/30/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 30-7-2018: Liontown Resources Ltd. announces a Resource Estimation report for its Cambridge deposit at the Toolebuc project. Initial mineral resource estimate at the Cambridge deposit. Liontown Resources Limited (ASX: LTR – “Liontown” or “the Company”) is | |
| Resources: | (Resource, Inf.): 84Mt @ 0.30% V2O5, 188ppm MoO3 | |
| CP/QP: | [Resources]: Christine Standing (Optiro Pty Ltd.) | |
| ABSTRACT: | Liontown Resources Limited (ASX: LTR – “Liontown” or “the Company”) is pleased to announce a maiden Inferred Mineral Resource estimate of approximately 83.7Mt @ 0.30% V2O5 for its 100%-owned Toolebuc Vanadium Project, located 440km west of Townsville in NW Queensland. The Mineral Resource, which was prepared by independent specialist resource and mining consulting group Optiro Pty Ltd, encompasses the Cambridge deposit. The total Inferred Mineral Resource for the Cambridge deposit is summarised below: The Mineral Resource estimate was prepared by Optiro Pty Ltd and 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). Liontown’s Managing Director, Mr David Richards, said the maiden JORC Resource for the Toolebuc Project, which was based on the extensive historical drilling, demonstrated the significant scale and potential of the project. “The Cambridge deposit has a number of exciting attributes which make it a significant and potentially valuable addition to our portfolio of Australian battery metals projects,” he said. “These include the shallow nature of the mineralisation, its proximity to major existing regional infrastructure, and the fact that it remains open and offers substantial growth potential – plus the opportunity for further discoveries within our large tenement holding.” “Vanadium has been one of the strongest performing metals of the past two years, on the back of tight global supply and emerging demand from the grid-scale energy storage and renewable energy sectors, where it is used in vanadium redox batteries, or VRB’s.” “It is an exciting metal to have in our portfolio and, given the scale of the opportunity at Toolebuc, we intend to pursue this project with vigour, in parallel with our emerging lithium projects at Kathleen Valley and Buldania in Western Australia. In that regard, we will be updating the market on recent and upcoming activities at our lithium projects in the near future.” | |
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