The Bynoe Project comprises 3 separate, granted exploration licences (EL29699, EL30012 and EL30015) and 2 smaller tenements (MLN16 and EMP28651) which are located entirely within EL30015. The combined tenement package covers a total area of ~88km2 area and is located 20-50km SSW of Darwin in the Northern Territory.
EL30012 and 30015 are subject to an Option Agreement with private company Orema Pty Ltd. Liontown may earn 100% equity
in the tenements by:Paying A$10,000 cash on signing of the Agreement
(completed);
Paying A$100,000 anytime within 19months of the execution date of the Agreement
MLN16, EMP28651 and EL29699 are wholly owned by LRL (Aust) Pty Ltd a wholly owned subsidiary of Liontown Resources Limited.
Ltr has only acquired the tenements on august the 3rd paying $110k plus exploration expenses including the airborne geophysical survey.
I would expect cxo to acquire these tenements for around the $110k to $400k mark if this is the case.
Ltr would most likely move focus to the Kathleen valley lithium play.
I did a bit of digging on bp32 and bp32w both seem to have the same geology as bp33 and both have a pegmatite thinkness ranging from 2m to 11m which may form into bp33.
With a bit more Rc drilling around this area bp33 could turn up with enough high grade spodumene for another dso project which would be very nice for cash flow![]()
I'm also interested in the litchfeild pegmatite that follows the grants mineralised trend with surface samples over 1km strike.
Tomorrow's ann will be an interesting one.![]()
gltah Cheers
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