- Initial results from Liontown Resources’ (LTR) maiden drilling campaign at the Moora Project in WA have defined a copper-gold zone over one kilometre in length
- The battery metals exploration and development company is aircore drilling beneath gold-platinum group element-nickel-copper anomalies
- Assay results from the program to date indicate potential magnetic sulphide mineralisation at depth and Liontown has begun reverse circulation drilling to test this hypothesis
- Liontown will also drill another 80 to 90 aircore holes to test anomalies and carry out further regional auger drilling to evaluate priority magnetic targets
- Shares have been trading 2.4 per cent lower at 41 cents
Initial results from Liontown Resources’ (LTR) maiden drilling campaign at the Moora Project have defined an extensive zone of copper-gold mineralisation.
The WA project is located in the same geological terrain as Chalice Mining’s (CHN) Julimar platinum group element (PGE)-nickel-copper-gold discovery and the aircore drilling campaign at Moora was designed to test beneath anomalies of the sort, identified in shallow auger sampling last year.
Prior to the Christmas shutdown, Liontown had completed 119 holes and has now received assays from the first 38 of these. The results defined copper-gold mineralisation in a zone stretching one kilometre in length and up to 200 metres in width.
Holes in this zone also returned elevated levels of nickel and platinum, and Liontown interprets this association of anomalous gold-copper-nickel-platinum as indicating potential magnetic sulphide mineralisation at depth.
The battery metals exploration and development company has begun a 12 to 15 hole reverse circulation (RC) program to drill deeper and test this hypothesis.
Liontown Managing Director David Richards said the results to date, particularly the association with nickel and platinum geochemistry, is highly encouraging.
“Achieving potentially ore-grade copper and gold intercepts in our very first batch of assays from this early-stage of air-core drilling is a very encouraging result which gets our maiden exploration program at Moora off to a very strong start.”
“We are looking forward to seeing what RC drilling beneath some of the stronger aircore results will reveal, and to receiving the balance of the aircore numbers.”
“We are continuing to pursue a systematic and multi- pronged approach to unlocking a possible commercial discovery at Moora, employing the full range of exploration methodologies including ground EM, auger drilling, aircore drilling and, now, RC drilling,” he added.
Later this month, the company will recommence aircore drilling and complete another 80 to 90 holes. It will also carry out regional auger drilling to evaluate previously untested, priority magnetic targets.
Shares have been trading 2.4 per cent lower at 41 cents at 10:33 am AEDT.