Ongoing resource expansion drilling at Liontown Resources’ (ASX: LTR) wholly-owned Kathleen Valley lithium-tantalum project in Western Australia continues to intersect thick zones of high-grade, mineralised pegmatite and extend the mineralisation beyond the current resource boundary.
Results for two recent holes confirm the north-western strike continuity of the project’s best-ever intercept reported last month of 52 metres at 1.4% lithium oxide.
Among the intersections from these latest holes was 18m at 1.6% lithium oxide from 189m, including 12m at 2.2% lithium oxide from 190m; and 48m at 1.4% lithium oxide from 242m, including 8m at 2.3% lithium oxide from 218m, and 4m at 2.2% lithium oxide from 272m.
The thicker intersections have been interpreted to be a merged zone resulting from the coalescing of the Kathleen Valley and Mt Mann pegmatite swarms.
This zone has been confirmed by assays over a minimum strike length of 200m.
Visually similar zones have been intersected in a number of additional holes for a further 400m along strike, with the mineralised trend remaining open to the north-west and at depth.
Assays for these holes are still pending.
Managing director David Richards said the latest assays highlight the potential for Liontown to substantially increase Kathleen Valley’s current mineral resource estimate of 21.2 million tonnes at 1.4% lithium oxide and 170 parts per million tantalum pentoxide.
“[Our] current program is designed to increase the size of – and confidence in – the existing resource estimate by drilling immediately along strike, down-dip and between previous intersections,” he said.
“This latest data supports our increased exploration target which is in addition to the maiden resource estimate and, if successfully converted to a JORC compliant resource, could substantially extend the potential mine life at Kathleen Valley.”
Liontown will conduct a further 2,600m of reverse circulation drilling with three rigs over a two-week period.
Results from the program will be used to prepare an upgraded resource estimate for use in future feasibility studies.
At mid-afternoon, shares in Liontown were trading 42.86% higher at $0.07.