(SMM2, March 14): Liontown Resources (ASX:LTR) has updated its resources for the Kathleen Valley lithium project in Western Australia, with new exploration resources up 86 per cent from previous estimates.
The new resources in Catherine Valley currently total 139 million tons, with 1.3 per cent lithium and 140 ppm tantalum. 1.8Mt lithium or 4.5Mt equivalent lithium carbonate and 43 million pounds of tantalum are expected.
David Richards (David Richards), managing director, said: "based on the latest results of extended drilling, it is clear that it is expected to greatly exceed the amount of exploration announced."
He added: "this release of the resource update, which clearly shows that the Catherine Valley is a first-class lithium-tantalum deposit."
Liontown pointed out that the amount of resources here will be further updated to include ongoing drilling, which will be completed by the end of this month.
Liontown said that once all the remaining drilling data have been sorted out, the final mineral resources will be estimated next month and will be the basis for the company's final feasibility study.
In the case of lithium content of 1.2-1.5%, the resource greatly exceeds Liontown's extended exploration target 25-50Mt.
Catherine Valley (Kathleen Valley) is located in the eastern gold mining area of Western Australia, surrounded by transportation, energy and camp infrastructure.
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