A world-class lithium deposit with a Mineral Resource Estimate (MRE) of 156Mt @ 1.4% Li2O and 130ppm Ta2O5 (released May 2020).
80% of the MRE is Measured and Indicated.
An updated Pre-Feasibility Study (PFS) for which results were announced in early October 2020 outlines stronger economics for the project compared with the December 2019 PFS.
The updated PFS estimates the project’s NPV at $1.12b (previously $507m), IRR at 37% (previously 25%), LOM free cash flow of $4.8b (previously $1.9b) with development capital costs at $325m.
Liontown will now progress a Definitive Feasibility Study (DFS) on Kathleen Valley,
Kathleen Valley is the only independent, globally significant, spodumene-related, hard rock, lithium resource in Australia.
The Project is 100%-owned and largely located on granted Mining Leases in an established, well-serviced mining district close to existing infrastructure.
Located in the same geological terrain as the Julimar discovery, 95 km south, where Chalice Gold Mines has discovered significant gold, PGE, nickel and copper mineralisation hosted within a mafic-ultramafic intrusion (see ASX:CHN release 9th July 2020).
Shallow auger sampling (<1m deep) by Liontown at Moora has defined extensive, strong Au-PGE-Ni-Cu anomalism coincident with large geophysical highs interpreted to indicate near-surface mafic-ultramafic intrusions obscured by shallow cover.
Multiple +100ppb Au anomalies defined with individual values up to 925ppb (0.92g/t Au).
The gold is coincident with highly anomalous PGEs (up to 75ppb Pd+Pt), nickel (up to 492ppm) and copper (up to 884ppm)
An airborne EM survey was performed over the entire Project area in August 2020 with maiden drill testing underway.
There has been no prior drill testing of the fresh, un-weathered bedrock at Moora.
The Project is 100%-owned and well serviced by transport and power infrastructure.