Liontown has announced a maiden Inferred Mineral Resource estimate of ~83.7Mt @ 0.30% V2O5 at the 100%-owned Toolebuc Vanadium Project in NW Queensland. The maiden JORC Resource demonstrates the significant scale and potential of the project as valuable addition to Liontown’s existing portfolio of Australian battery metal properties.
The resource for the Cambridge Deposit remains open and an Exploration Target of 100 – 110Mt at an average grade of 0.28% to 0.32% V2O5 has been estimated adjacent to and in addition to the Inferred Mineral Resource.
The Cambridge deposit is located immediately east of the 671Mt Lilyvale vanadium deposit (ASX: IRC - see release dated 20th March 2018). Initial work indicates that similar grades and widths of mineralisation occurs within Liontown’s tenure and that Intermin’s resource extends eastward onto the Toolebuc Project area.
The Toolebuc Vanadium Project is located close to existing infrastructure including a gas pipeline, a major highway and railway linked to Townsville Port.
For further information and figures please see ASX Announcement ‘Liontown Announces Maiden 84Mt Vanadium Resource – 30th July 2018’ and ASX Announcement 'Extensive Vanadium Mineralisation Defined - Toolebuc Project' - 23rd April 2018.
Figure 1: Cambridge - Lilyvale Area – Plan showing tenement boundaries and resource areas
The Project is located approximately 400km west of Townsville in north-west Queensland and comprises five granted Exploration Permits (EPMs) covering a total area of ~1,000km2 (Figure 2).
Figure 2: Toolebuc Vanadium Project - Location, regional geology and tenure
Vanadium mineralisation at the Cambridge deposit is located within marine sediments of the Early Cretaceous Toolebuc Formation, a stratigraphic unit that occurs throughout the Eromanga Basin in Central Northern Queensland.
The Toolebuc Formation is a flat-lying, early Cretaceous age sediment that consists predominantly of black carbonaceous and bituminous shale and minor siltstone with limestone lenses and coquinites. Mineralisation at Cambridge extends from 1m to 22m below surface (average 10m) and ranges in thickness from 2m to 17m, with an average thickness of 9.7m.
The Cambridge deposit is 5 km long, up to 3 km wide and lies adjacent to and immediately east of the Lilyvale vanadium deposit (Figures 1 and 2), owned by Intermin Resources Ltd. In March 2018, Intermin Resources Ltd reported Inferred Mineral Resources at the Lilyvale deposit of 671Mt at an average grade of 0.35% V2O5 above a cut-off grade of 0.29% V2O5.
Figure 3: Cambridge area – Drill hole plan showing Inferred Mineral Resource and Exploration Target Areas
The Toolubec Vanadium Project is 100% owned.
Click here for JORC Tables.