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- Liontown Resources (LTR) has received outstanding results from its Kathleen Valley Lithium-Tantalum Project in WA
- Lithium oxide grading up to 3.8 per cent was intersected
- Drilling at 403 holes has been completed at Kathleen Valley to date
- The company believes it now has sufficient data to prepare an interim MRE which will determine whether the exploration target has been achieved
- Liontown is currently up a steady 6.33 per cent with shares trading for 8.4 cents apiece
Liontown Resources (LTR) has received outstanding results from its Kathleen Valley Lithium-Tantalum Project in W.A.
Latest assay results, which include results of 3.8 per cent lithium oxide over 10.4 metres and 2 per cent lithium oxide over 33.4 metres, have confirmed the continuity of the Kathleen Valley mineralised system.
This mineralised system has now been defined over at least 1.7 kilometres with the 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 25-50 million tonnes at 1.2-1.5 per cent lithium oxide.
This is in addition to the 74.9 million tonnes at 1.3 per cent lithium oxide and 130 parts per million tantalum pentoxide MRE (mineral resource estimate) that was released in July 2019.
The company believes it now has sufficient data to prepare an interim MRE which will determine whether the exploration target has been achieved.
Independent resource consulting group Optiro has been engaged to prepare this update.
The interim MRE update may include a large inferred component however, infill drilling using up to five drill rigs will continue until the end of February to provide the data to prepare a final MRE.
The final MRE will include both underground and open pit resources which are anticipated to provide the best outcome for the definitive feasibility study (DFS).
Released in December 2019, the pre-feasibility study (PFS) and the July 2019 MRE have already demonstrated potential robust economics for the Kathleen Valley Project.
The PFS generated a maiden ore reserve of 50.4 million tonnes at 1.2 per cent lithium oxide.
Since drilling re-commenced in late August 2019, 26 new reverse circulation (RC) holes have been drilled, 11 previous RC holes have been extended and 32 new diamond core holes have been drilled for a total of 24,990 metres.
The total amount of drilling at Kathleen Valley now totals 403 holes, for 72,625 metres, comprising of 329 RC holes for 54,191 metres, and 74 diamond core holes for 18,434 metres.
Liontown is currently up a steady 6.33 per cent with shares trading for 8.4 cents apiece at 12:31 pm AEDT.
