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Liontown Resources (ASX:LTR) - Managing Director, David Richards - The Market Herald
Managing Director, David Richards
Sourced: HotCopper
  • Liontown Resources (LTR) is reporting promising Julimar-style results from infill and extensional auger drilling at its Moora project in WA
  • Located around 95 kilometres to the north of Julimar, the Moora project contains two principal areas of interest
  • Both areas have shown heightened levels of elements found at Julimar, and are believed to have similar underlying geology
  • Based on early results, there seems to be considerable promise of nickel, gold, copper and platinum group element mineralisation
  • Further auger sampling and an airborne electromagnetic survey will now be used to map priority targets for a maiden drilling program
  • Liontown Resources is trading four per cent lower at Monday's close, with shares priced at 12 cents each

Liontown Resources (LTR) is reporting promising Julimar-style results from infill and extensional auger drilling at its Moora project in WA.

Julimar two?

Located around 95 kilometres to the north of Julimar, the Moora project contains two principal areas of interest.

The Mt Yule–Felton Corridor (MYFC) is a 15-kilometre long, 2.5-kilometre wide zone containing multiple areas of gold and platinum group element (PGE) anomalism.

The Bindi Bindi area has so far revealed several zones of nickel anomalism across an area approximately seven by seven kilometres, believed to host mafic and ultramafic units below shallow cover.

Two auger drilling programs have now been completed, with the second program infilling the first while also extending to adjacent areas.

Both the MYFC and Bindi Bindi areas have shown heightened levels of elements found at Julimar, and are believed to have similar underlying geology to Chalice Gold's recent discovery.

Both Moora and Julimar lie within the Western Gneiss Terrain of the Archaean Yilgarn Craton — host to the largely unexplored Jimperding Metamorphic Belt.

If the anomalism at Moora is a true indicator of similar underlying mineralisation as that found at Julimar, Liontown could have quite a discovery on its hands.

Next steps

Liontown will conduct an airborne electromagnetic (AEM) survey across the entire Moora project.

AEM surveying has proven effective in locating sulphide bodies in geological formations similar to those at Moora and Julimar.

The program will map the terrain across 200-metre spaced lines.

AEM results will then be analysed, with a drilling program to be planned around areas of coincident AEM and auger sample anomalies.

Liontown Managing Director, David Richards, says the auger sample results were some of the most compelling he'd seen in such early-stage exploration.

"The coincidence of extensive high-order gold-PGE-nickel anomalism with large magnetic bodies indicates the potential for a mineralised system of significant scale,” David said.

"We are looking forward to completing the first-ever drilling to test the fresh bedrock beneath the weathered cover, which is estimated to be only 20 to 40 metres thick," he added.

The AEM survey is set to begin in August. Along with further auger sampling across the project, Liontown will be hoping to pin down some priority targets ahead of the maiden drilling program.

Liontown Resources is trading four per cent lower at Monday's close, with shares priced at 12 cents each.


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