Liontown Resources up 11.1 per cent after high-grade lithium find

Liontown Resources gained 11.1 per cent in the ASX today after announcing seven high-grade lithium intersections. The company reported highs of 2.1 per cent to lows of 1.4 per cent at the Kathleen Valley pit in WA. The news represents some of the company’s best intersections yet.

Liontown owns full interest in the Kathleen Valley project. Other positive results included 1.9 per cent and 2.0 per cent.

Intersections ran from along the 300m strike zone and 150m down-dip. A mineralised trend continues and the company expects a consistent lithium quality.

Liontown Managing Director David Richards says the latest drilling has continued to achieve and exceed expectations.

Liontown previously estimated the project to provide a maximum of 22.5Mt of lithium, but reports a possible 31Mt could instead be extracted.

The latest results increase the company’s current lithium resource count to 21.1Mt at an average grade of 1.4 per cent.

Liontown expects to complete in the next three to four weeks a total of 6,000m of further reverse circulation drilling undertaken by two rigs.

“We are looking forward to seeing what the balance of the drilling program can deliver and then getting to work on an updated Mineral Resource while we start drilling again at our second lithium project at Buldania,” said Richards.

Please see announcement for further details