Liontown plans extra drilling to find the edges of the hefty (and growing) Kathleen Valley deposit

It’s been a crazy run for advanced hard rock explorer Liontown Resources (ASX:LTR), a stock which has consistently flipped the bird at weak lithium market sentiment to be up 400 per cent over the past 12 months
8th November 2019
Resources Rising Stars

It’s been a crazy run for advanced hard rock explorer Liontown Resources (ASX:LTR), a stock which has consistently flipped the bird at weak lithium market sentiment to be up 400 per cent over the past 12 months (reports Stockhead).

Liontown’s flagship Kathleen Valley project in WA boasts a current resource estimate of 74.9 million tonnes, which already makes it the 5th biggest deposit in Australia.

A current 15,000m drilling program is aiming to build on this by testing an additional exploration target of 25-50 million tonnes at 1.2-1.5 per cent lithium. “Exceptional” new drilling results suggest that Kathleen Valley is about to get a whole lot bigger.

This drilling has now defined a high-grade mineralised system over a minimum strike length of 1.4km and to depth of 400m below surface, the company says.

But the deposit also remains open (which means they haven’t found the edges yet) and so more drilling – on top of the originally planned 15,000m program – is needed “to delineate its extents” prior to preparing an updated resource estimate, the company says.

A pre-feasibility study (PFS), based on the current resource estimate of 74.9 million tonnes, is scheduled for completion this quarter.

Read more at https://stockhead.com.au/resources/battery-metals-liontown-plans-extra-drilling-to-find-the-edges-of-the-hefty-and-growing-kathleen-valley-deposit/

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