Kathleen Valley Project

HIGHLIGHTS  

  • ~21.2Mt @ 1.4% Li2O (lithium) and 170ppm Ta2O5 (tantalum).
  • 75% of the Mineral Resource is Measured or Indicated.
  • Metallurgical confirms saleable concentrate and low iron (<0.5% Fe203).
  • Scoping Study due early Q1 2019.
  • Granted Mining Leases close to established transport, energy and camp infrastructure.
  • Stacked and predominantly shallow-dipping pegmatites (up to 20m thick) intersected at Kathleen’s Corner over a strike length of >1,100m, open in all directions.
  • High grade lithium mineralisation also intersected over a ~650m strike length at the Mt Mann pegmatite, located 250m SW of Kathleen’s Corner, with the zone open at depth.

OPPORTUNITY  

The Kathleen Valley Project is a high-grade lithium discovery located on granted Mining Leases in a Tier-1 mining jurisdiction, approximately 680km north-east of Perth, Western Australia.
 
A maiden ~21.2 million tonne Lithium-Tantalum Mineral Resource has set a strong growth foundation for the Company’s battery metal assets, with 75% classified as Measured or Indicated:
 
 
Table 1: Kathleen’s Corner and Mt Mann Mineral Resource as at September 2018
 
  • Notes: Reported above a Li2O cut-off grade of 0.5%
  • Tonnages and grades have been rounded to reflect the relative uncertainty of the estimate

 

The Measured, Indicated and Inferred Mineral Resource was prepared by independent specialist resource and mining consulting group Optiro Pty Ltd (“Optiro”) and encompasses the Kathleen’s Corner and Mt Mann deposits. The Mineral Resource estimate is reported and classified in accordance with the guidelines of the 2012 Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code; 2012).
 
Details of the Mineral Resource estimate are provided in ASX release titled 'Maiden 21.2 million tonne Lithium-Tantalum Mineral Resource sets strong growth foundation for Liontown at Kathleen Valley' - 4th September 2018.
 
Strong zones of shallow, high-grade lithium mineralisation have been intersected by RC drilling at both Kathleen’s Corner and Mt Mann.

Figure 1: Kathleen Valley Project – Location plan, interpreted bedrock geology, tenure and mapped pegmatite swarms

DRILLING PROGRAM  

For all significant drilling results and statistics please see ASX Announcement ‘Final assays expand Kathleen Valley lithium deposit ahead of maiden Resource' - 6th August 2018.

For further information please see our Investor Presentation and ASX Announcements.

Figure 2: Kathleen Valley– 3D views of the drill holes and mineralised pegmatites coloured by domain code (top - side view, looking north-west, bottom - looking west) 2x vertical exaggeration

GEOLOGY

The Kathleen Valley Lithium Project is located on the western edge of the Norseman-Wiluna Belt within the Archaean Yilgarn Craton approximately 400km north of Kalgoorlie. The lithium mineralisation is hosted within spodumene-bearing pegmatites, which are part of a series of LCT-type rare metal pegmatites that intrude mafic and sedimentary rocks in the region. 

Eighteen mineralised pegmatites have been identified hosted by two pegmatite swarms – Kathleen’s Corner and Mt Mann (Figure 2).

LAND STATUS

The Kathleen Valley Lithium Project comprises four Mining Leases (MLs) and one Exploration Licence (EL). The MLs and rights to pegmatite hosted rare-metal mineralisation were acquired from Ramelius Resources Limited via a Sales Agreement completed in 2016. The MLs have been transferred to LRL (Aust) Pty Ltd, a wholly owned subsidiary of Liontown Resources Limited (LTR); however, Ramelius retains the rights to gold.

Ramelius acquired the Kathleen Valley Project MLs in June 2014 from Xstrata Nickel Operations Pty Ltd (Xstrata). Xstrata retains rights to any nickel discovered over the land package via an Offtake and Clawback Agreement.

LRL (Aust) Pty Ltd has assumed the following Agreement:

  • 2% Gross Production Royalty affecting M36/264-265 and 459-460.

The EL is in the name of Liontown Resources Limited (LTR) with no third party obligations apart from statutory requirements.

RELATED DOCUMENTS

Click here for JORC Tables.
 

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