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Liontown Resources (ASX:LTR) - Managing Director, Tony Ottavanio - The Market Herald
Managing Director, Tony Ottavanio
Source: Liontown Resources
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  • Liontown Resources (LTR) has hit an impressive widespread gold assay in its first reverse circulation (RC) drillhole at the Moora Project in WA
  • The company intersected 1.6 grams per tonne gold along a 44-metre stretch of drillcore, which included 20 metres at 3.2 grams per tonne gold and four metres at 10.1 grams per tonne gold
  • The notable hole is one of three RC drill holes interrogating the site’s recently uncovered Angepena Zone, which the company believes could house over 900 metres of bedrock mineralisation
  • Liontown Resources is up 6.82 per cent to 47 cents per share

Liontown Resources (LTR) has hit an impressive widespread gold assay in its first reverse circulation (RC) drillhole at the Moora Project in WA.

The company intersected 1.6 grams per tonne gold along a 44-metre stretch of drillcore, which included 20 metres at 3.2 grams per tonne gold and four metres at 10.1 grams per tonne gold.

Beginning around 200 metres down, the hole may have hit along strike from an aircore hole that recorded 12 metres at 1.4 grams per tonne of gold just last month.

This first RC hole is one of three RC drill holes interrogating the site’s recently uncovered Angepena Zone. According to Liontown, this latest result further indicates the potential of the zone to hold more than 900 metres of bedrock mineralisation.

Assays from another 11 RC holes and a further 145 in-fill and first-pass aircore holes are still pending. The company is awaiting results before planning its next move.

Liontown’s departing Managing Director, David Richards, called the intersect an “exciting moment” for the company, and one that validates its exploration approach.

“It’s obviously still early days, but the data suggests the potential for a large mineralising system at Angepena that will require intensive drill testing. The fact that the shallow anomalism we have been seeing in auger and air-core drilling is directly related to primary bedrock mineralisation is a vital breakthrough that confirms that we have an emerging discovery opportunity at Moora,” he added.

Liontown Resources is up 6.82 per cent to 47 cents per share at 10:37 am AEDT.

LTR by the numbers
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