Junior lithium explorer Liontown Resources (ASX: LTR) has touted Kathleen Valley as a significant emerging lithium discovery after striking multiple high-grade pegmatites at the Western Australian project.
The company today announced a recent 5900m reverse circulation (RC) drilling program had intersected strong lithium mineralisation at the Kathleen’s Corner prospect, with highlights including 4m grading at 1.5% lithium oxide from a depth of 43m, including 3m at 1.8% lithium oxide from 44m.
In the same hole, a 15m intersection graded 1.1% lithium oxide from 65m, including 1m at 2.4% from 72m and 2m at 2.4% from 76m. Significant results were also returned from two other RC holes.
Liontown said the drilling program extended the known lithium mineralisation at Kathleen’s Corner in all directions, which remains open along strike and at depth.
In addition, assays have been received for two holes drilled at the Mt Mann prospect, also within the Kathleen Valley project, with results confirming the down-dip continuity of high-grade mineralisation.
Although assays are still pending for a further 25 RC holes, Liontown said the latest results together with geological logging, were sufficient to pave the way for resource drilling to start immediately.
The 2500sq m resource definition drilling program is expected to include 10,000m of RC drilling and 800m of diamond core drilling. Although, the total amount will depend on the final extent of the Kathleen’s Corner trend.
According to Liontown managing director David Richards, the continuity, grade and stacked nature of the multiple shallow-dipping pegmatites encountered at Kathleen’s Corner and Mt Mann bodes well for future mining.
“Our confidence in the scale and economic potential of the Kathleen Valley project grows with each round of drilling,” he said.
Liontown wholly owns three battery metal projects in Australia: the Kathleen Valley and Buldania lithium projects in Western Australia and the Toolebuc vanadium project in Queensland.
Shares in Liontown jumped up 12.5% to A$0.027 on the news by afternoon trade on Monday.