Liontown confirms second significant lithium discovery in WA with new thick, high-grade hits at Buldania
Spodumene mineralisation at Anna prospect extended over a strike length of least 650m; Current drilling program expanded
HIGHLIGHTS
• Significant extensions of high-grade lithium mineralisation at the Buldania Project confirmed by follow-up drilling at the Anna prospect. New intersections include:
(True widths 90-100% of down-hole widths listed above)
• The mineralisation has been extended beneath shallow cover for a further 200m to the south-east for a minimum strike length of 650m and remains open.
• A diamond drilling program designed to provide geological data and samples for metallurgical test work is due to commence in late September.
• Current drilling program expanded and is ongoing.
• Results from the current program will be combined with those from previous drilling to fast-track a maiden Mineral Resource estimate for Buldania.
• Lithium is associated with spodumene mineralisation and hosted by outcropping pegmatites.
41m @ 1.0% Li2O from 8m (BDRC0040), including:
o 7m @ 1.8% Li2O from 19m; and
o 14m @ 1.4% Li2O from 27m
27m @ 1.2% Li2O from 88m (BDRC0041), including:
o 13m @ 1.5% Li2O from 95m
35m @ 1.2% Li2O from 35m (BDRC0056), including:
o 5m @ 1.6% Li2O from 42m; and
o 18m @ 1.7% Li2O from 51m
23m @ 1.4% from 136m (BRC0058), including:
o 18m @ 1.5% Li2O from 137m
26m @ 1.1% Li2O from 82m (BDRC061), including:
o 5m @ 1.5% Li2O from 87m; and
o 8m @ 1.8% Li2O from 94m
ASX ANNOUNCEMENT LIONTOWN RESOURCES LIMITED ASX:LTR Page 2 of 16
Liontown Resources Limited (ASX: LTR) is pleased to advise that follow-up Reverse Circulation (RC) drilling has confirmed that it has made a second significant WA lithium discovery at its 100%-owned Buldania Project, located ~30kms north-east of Norseman, ~600km east of Perth.
The new phase of drilling has extended lithium mineralisation at least 200m toward the south-east under shallow cover at the Anna prospect, confirming the presence of an extensive zone of spodumene-related lithium mineralisation.
The mineralisation is open in all directions, with the Anna pegmatite body covering a minimum strike length of 650m and with surface widths varying between 50m in the north-west to 250m in the south-east (Figure 1).
The current 32-hole, 5,000m RC program has also successfully confirmed the continuity of intersections reported earlier this year (up to 58m @ 1.2% Li2O).
Following receipt of the latest results, Liontown has decided to expand the drilling program to test for further strike extensions to the south-east.
A second drill rig has been contracted to complete three HQ diamond core holes commencing in late September. Data from the core drilling will be used for geological, structural, geotechnical and metallurgical studies.
Since acquiring the Buldania Project, Liontown has drilled a total of 68 holes for 7,371m.
The recent drilling (BDRC0037 – 0068) has focused on the Anna pegmatite, and assays have been received for holes BDRC0037-0061 (see Appendix 1 for a full listing of significant drill statistics).
The results indicate multiple, moderately south-west dipping, lithium-mineralised pegmatites, which have been defined over a minimum strike length of 650m (Figure 1) and 200m down-dip (~150m vertical / Figures 2 and 3).
Geological modelling is continuing as a pre-cursor to preparing a maiden Mineral Resource estimate. When completed, this will be Liontown’s second JORC compliant lithium Mineral Resource in WA following the recently announced maiden Mineral Resource for the Kathleen Valley Project (see ASX announcement, 4 September 2018).
The Buldania Project is part of a large, ~600km2, strategic land position owned by Liontown, including the neighbouring Norcott and Killaloe Projects, which is highly prospective for lithium. The projects are located in the southern part of the Eastern Goldfields Province, a region well-known for hosting large lithium deposits including Mt Marion and Bald Hill (Figure 4).
The Project is also close to major road and rail infrastructure, with direct links to the Port of Esperance, critical to the mining and production of bulk commodities such as spodumene concentrates.
GLTAH
(20min delay)