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Liontown Resources (ASX:LTR) - Outgoing Managing Director, David Richards
Outgoing Managing Director, David Richards
Source: HotCopper
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  • Liontown Resources (LTR) has received strong gold, nickel, copper, and PGE anomalies from its Moora Project in Western Australia
  • These anomalies were identified by the company’s recently completed gravity survey and auger sampling program
  • The gravity survey identified multiple dense, discrete bodies that are associated with magnetic highs while the auger sampling defined multiple strong multi-element anomalies such as gold, palladium, nickel, copper and platinum
  • Results peaked at 613 parts per billion gold, 492 parts per million nickel, and 280 parts per million copper
  • Given the success of the gravity survey and auger sampling program, Liontown will now extend both to the remainder of the project area
  • Liontown is steady on the market this morning and shares are trading for 10.5 cents each

Liontown Resources (LTR) has received strong gold, nickel, copper, and PGE (platinum group element) anomalies from its Moora Project.

The Moora Project is located approximately 150 kilometres north-northeast of Perth in Western Australia and it is made up of three exploration licences which cover an area of 467 square kilometres.

These anomalies were identified by Liontown’s recently completed gravity survey and auger sampling program.

These works were completed over two areas to determine if these processes could assess the project for bodies that may be prospective for precious and base metal mineralisation.

The gravity survey identified multiple dense, discrete bodies that are associated with magnetic highs.

Auger sampling defined multiple strong multi-element anomalies, such as gold, palladium, nickel, copper and platinum, in the western area which neighbour magnetic highs.

These anomalies peaked at 613ppb (parts per billion) gold, 50ppb palladium, 30ppb platinum, 492ppm (parts per million) nickel, and 280ppm copper.

Values greater than 1000ppm nickel were also returned.

Given the success of the gravity survey and auger sampling program, Liontown will extend both to the remainder of the project area.

The company will also progress with in-fill auger sampling across the anomalies and will use the results to design moving-loop electromagnetic surveys that can detect sulphide-rich zones.

It is not yet known when this will take place as the start date will partially depend on local cropping activities.

Liontown is steady on the market this morning and shares are trading for 10.5 cents each at 10:18 am AEST.

LTR by the numbers
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