LIONTOWN RESOURCES LIMITED ASX : LTR
ABN 39 118 153 825 ASX ANNOUNCEMENT 28 JUNE 2017 Bynoe Lithium Project, NT - Drilling Update- Initial phase of 2017 drilling completed comprising 20 RC holes for 2,222m
- Significant pegmatites (>10m thick) intersected at most prospects
- Program curtailed due to wet ground conditions preventing access for heavy equipment
- Testing of high-priority targets to resume in coming Quarter
Liontown Resources Limited (ASX: LTR) advises that it has completed part of its initial 2017 drilling program at the 100%-owned Bynoe Lithium Project, located near Darwin in the Northern Territory, with 20 Reverse Circulation (RC) holes drilled for a total 2,222m.
The drilling was designed to assess new targets defined by geochemical and geophysical surveys completed earlier in the year; however, due to boggy ground conditions the program was not completed and a number of high priority targets remain to be tested. Only seven of the new targets weretested with significant pegmatites (>10m thick) intersected at most prospects and >1% Li2O values recorded at Carlton and Hang Gong West (Figure 1/see Appendix 1 for drill-hole statistics).
Figure 1: Bynoe Project - EL30015 showing lithium-in-soil image and main prospects
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The results confirm that primary, ore grade lithium mineralisation is widespread at Bynoe highlighting the prospectivity of the Project with numerous pegmatites remaining to be drill tested.
Atthe Carlton prospect, drill-hole LBRC071 intersected 16m @ 0.8% Li2Ofrom 70m including 3m @ 1.4% Li2O from70m and 2m @ 1.8% Li2O from78m.
The Carlton prospect comprises a >200m long, 20m thick, east-dipping pegmatite which has only been effectively tested by a single drill hole (LBRC071). Two other holes (LBRC059 and 060) were drilled towards the east, sub-parallel to the dip of mineralisation, and failed to intersect the main pegmatite (Figure 2).
Figure 2: Bynoe Project - Carlton Prospect/Drill hole plan on magnetic image
Priority targets remaining to be tested include:
The >1km Litchfield soil anomaly, which is located ~2km SSW on the same mineralised trend as Core Exploration's high-grade Grant's resource (see CXO release dated 8th May 2017). At this prospect soil sampling has recorded strongly elevated lithium values (Figure
and field traversing has observed numerous historical workings and extensive sub- cropping pegmatites; and
The southern extension of the Sandras trend. Drilling at Sandras in 2016 recorded multiple thick >1%Li2Ointersections (up to 42m @ 1%Li2Ofrom 93m) hosted by a pegmatite which is coincident with a 250m long magnetic low. A similar, larger (~700m long) magnetic feature is located 200m south of Sandras (Figure 3) beneath transported cover.
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Figure 3: Bynoe Project - Magnetic image (RTP_F1p5VD_H_Wet) of Sandras area
Further drilling is scheduled to recommence next Quarter once ground conditions permit. In addition to new targets, the drilling will also follow up the Carlton intersection and a number of other prospects where thick pegmatites have been intersected at shallow depths but where lithium would have been depleted by weathering.
DAVID RICHARDS
Managing Director 28 June 2017
The Information in this report that relates to Exploration Results is based on and fairly represents information and supporting documentation prepared by Mr David Richards, who is a Competent Person and a member of the Australasian Institute of Geoscientists (AIG). Mr Richards is a full-time employee of the company.
Mr Richards has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activities being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Richards consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
This announcement contains forward-looking statements which involve a number of risks and uncertainties. These forward looking statements are expressed in good faith and believed to have a reasonable basis. These statements reflect current expectations, intentions or strategies regarding the future and assumptions based on currently available information. Should one or more of the risks or uncertainties materialise, or should underlying assumptions prove incorrect, actual results may vary from the expectations, intentions and strategies described in this announcement. No obligation is assumed to update forward looking statements if these beliefs, opinions and estimates should change or to reflect other future developments.
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APPENDIX 1 - BYNOE PROJECT - 2017 DRILL HOLE STATISTICS
Hole ID | Prospect | East | North | RL | Dip | Azimuth | Depth (m) | Significant (>0.5%) Lithium Results | |||
From (m) | To (m) | Interval (m) | Grade (%) | ||||||||
LBRC056 | Hang Gong | 694550 | 8598806 | 27 | -65 | 260 | 97 | 81 | 84 | 3 | 1.5 |
incl. 1m @2.1% from 82m | |||||||||||
LBRC057 | Hang Gong | 694534 | 8598781 | 28 | -60 | 260 | 75 | No significant assays | |||
LBRC058 | Hang Gong | 694589 | 8598791 | 27 | -75 | 260 | 120 | 74 | 79 | 5 | 0.9 |
incl. 1m @ 1.7% from 76m | |||||||||||
LBRC059 | Carlton | 693760 | 8597980 | 33 | -66 | 90 | 130 | No significant assays | |||
LBRC060 | Carlton | 693730 | 8597927 | 35 | -60 | 90 | 132 | ||||
LBRC061 | Rubix | 693764 | 8597356 | 36 | -65 | 135 | 64 | ||||
LBRC062 | Roadside | 691545 | 8594745 | 29 | -65 | 120 | 146 | ||||
LBRC063 | Bells Mona | 691157 | 8594165 | 35 | -70 | 110 | 122 | ||||
LBRC064 | Hang Gong | 694591 | 8598701 | 28 | -67 | 260 | 93 | 55 | 57 | 2 | 1.4 |
LBRC065 | Hang Gong | 694251 | 8598702 | 30 | -65 | 115 | 108 | No significant assays | |||
LBRC066 | Hang Gong | 694350 | 8598651 | 30 | -65 | 295 | 109 | ||||
LBRC067 | Hang Gong | 694351 | 8598650 | 30 | -65 | 115 | 109 | ||||
LBRC068 | Hang Gong | 694443 | 8598604 | 30 | -65 | 295 | 109 | ||||
LBRC069 | Hang Gong | 694449 | 8598601 | 30 | -65 | 115 | 150 | ||||
LBRC070 | Johnstones | 693730 | 8598940 | 24 | -65 | 125 | 109 | ||||
LBRC071 | Carlton | 693845 | 8597930 | 33 | -60 | 270 | 115 | 70 | 86 | 16 | 0.8 |
incl. 3m @ 1.4% from 70m and | |||||||||||
2m @ 1.8% from 78m | |||||||||||
LBRC072 | Hordens | 693027 | 8596695 | 33 | -70 | 235 | 83 | No significant assays | |||
LBRC073 | Roadside | 691655 | 8594683 | 30 | -60 | 300 | 93 | ||||
LBRC074 | Bells Mona | 691241 | 8594124 | 35 | -70 | 290 | 108 | ||||
LBRC075 | Hang Gong | 694601 | 8598534 | 30 | -60 | 270 | 150 | ||||
True widths - 75% of down hole widths
APPENDIX 2 - BYNOE PROJECT - SANDRAS DRILL HOLE STATISTICS
Hole ID | Prospect | East | North | RL | Dip | Azimuth | Depth (m) | Significant (>0.5%) Lithium Results | |||
From (m) | To (m) | Interval (m) | Grade (%) | ||||||||
LBRC012 | Sandras | 693222 | 8576799 | 55 | -65 | 290 | 102 | No significant assays | |||
LBRC013 | 693252 | 8576866 | 52 | -65 | 297 | 96 | 65 | 73 | 8 | 0.8 | |
LBRC014 | 693253 | 8576866 | 52 | -80 | 297 | 162 | 93 | 135 | 42 | 1 | |
incl. 4m @ 2.6% from 94m and | |||||||||||
incl. 3m @ 1.5% from 132m | |||||||||||
LBRC015 | 693307 | 8576976 | 53 | -65 | 300 | 114 | 70 | 94 | 24 | 1.1 | |
incl. 1m @ 2.4% from 70m and | |||||||||||
4m @ 1.5% from 83m | |||||||||||
LBRC022 | 693270 | 8576903 | 52 | -80 | 295 | 163 | 94 | 121 | 27 | 1.1 | |
incl. 3m @ 1.6% from 108m and | |||||||||||
2m @ 1.8% from 119m | |||||||||||
130 | 140 | 10 | 0.7 | ||||||||
incl. 1m @ 1.8% from 131m | |||||||||||
LBRC023 | 693269 | 8776903 | 52 | -65 | 295 | 120 | 52 | 81 | 29 | 0.9 | |
incl. 4m @ 1.5% from 69m | |||||||||||
and 2m @ 2.3% from 78m | |||||||||||
96 | 99 | 3 | 1.1 | ||||||||
LBRC024 | 693235 | 8676830 | 52 | -65 | 295 | 103 | No significant assays | ||||
LBRC025 | 693256 | 8576830 | 52 | -80 | 295 | 169 | 109 | 110 | 1 | 1.4 | |
136 | 152 | 16 | 1.1 | ||||||||
incl. 6m @ 1.7% from 139m | |||||||||||
LBRC026 | 693235 | 8576874 | 52 | -60 | 295 | 85 | 61 | 66 | 5 | 0.6 | |
LBRC027 | 693286 | 8576939 | 52 | -65 | 295 | 120 | 65 | 71 | 6 | 1.1 | |
incl. 2m @ 2.3% from 66m | |||||||||||
77 | 105 | 28 | 1 | ||||||||
incl. 2m @ 1.6% from 79m and | |||||||||||
3m @ 1.5% from 87m and | |||||||||||
3m @ 1.5% from 98m | |||||||||||
LBRC028 | 693287 | 8576939 | 52 | -80 | 295 | 168 | 116 | 136 | 20 | 0.9 | |
incl. 2m @ 1.8% from 122m | |||||||||||
LBRC029 | 693202 | 8576757 | 52 | -73 | 295 | 127 | No significant assays | ||||
LBRC030 | 693338 | 8577047 | 52 | -65 | 295 | 127 | |||||
True widths ~50% of down hole widths
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Liontown Resources Limited published this content on 28 June 2017 and is solely responsible for the information contained herein.
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