- Liontown Resources (ASX: LTR) have linked northern and southern mineralisations at its Kathleen Valley Lithium-Tantalum Project in WA
- The results from exploration drilling show the newly discovered northern extension is continuous from the southern Kathleen valley system
- Mineralised pegmatite has now been intersected over a strike length of 1.7km, an increase of 300m
- A Pre-Feasibility Study and a Maiden Ore Reserve released earlier this month estimated the mine life to be 26 years
- Following the drilling program, an updated Mineral Resource Estimate will be completed
- Shares in Liontown Resources closed 2.33 per cent lower today, worth 8.4 cents apiece at market close
Lion Resources (ASX: LTR) have linked northern and southern mineralisations at Kathleen Valley Lithium-Tantalum Project in WA.
The company today issued an update on the 10 most recent reverse circulation holes in exploration drilling at its fully owned project. This program is aiming to extend the current Mineral Resource.
The update revealed northern mineralisation, found in earlier drilling, is continuous with the southern Kathleen Valley system within the defined mineral resource.
The results mean mineralised pegmatite has now been intersected over a strike length of 1.7km, an increase of 300 metres. Although the mineralisation is still open to the north and at depth.
In addition, the latest assay results returned intercepts of grades up to 2.9 per cent lithium dioxide over 6 metres.
Liontown’s Managing Director David Richards believes the results bode well for a positive year ahead.
“This amounts to another significant exploration breakthrough at Kathleen Valley, as it further expands the overall scale of the system to 1.7km and reinforces the potential for substantial resource growth next year,” he said.
This update follows a Pre-Feasibility Study(PFS) and a Maiden Ore Reserve released earlier this month.
The PFS showed a maiden ore reserve of 50.4 megatons at 1.2 per cent of lithium dioxide, which will underpin 2 megatons per annum. This led to a life of mine estimate of 26 years.
Results from the current drilling program will be used in an updated Mineral Resource Estimate.
The drilling program will also be expanded next year, with plans for the number of rigs in use to be increased from three to four.
Shares in Liontown Resources closed 2.33 per cent lower today, worth 8.4 cents apiece at market close.