Proactiveinvestors Australia Liontown Resources https://www.proactiveinvestors.com.au Proactiveinvestors Australia Liontown Resources RSS feed en Mon, 27 May 2019 01:31:03 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Liontown Resources' high-grade results confirm extensions to lithium mineralisation ]]> https://www.proactiveinvestors.com.au/companies/news/213856/liontown-resources--high-grade-results-confirm-extensions-to-lithium-mineralisation-213856.html Liontown Resources Limited (ASX:LTR) has received encouraging high-grade assays from diamond core drilling completed last year at its Kathleen Valley project in WA.

The drilling program comprised 33 holes for a total of 2,896 metres and was designed to provide an additional four tonnes of samples for further metallurgical test work.

High-grade assays

New intersections include:

8.4 metres at 1.8% lithium oxide from 154.7 metres including 6 metres at 2% from 156.5 metres;

10 metres at 1.4% from 19 metres including 5 metres at 1.8% from 22 metres;

25.9 metres at 2% from 104 metres including 19 metres at 2.2% from 100 metres; and

16.5 metres at 1.4% from 45 metres including 8 metres at 2% from 48 metres

Additional metallurgical test work will begin on around 4 tonnes of mineralised samples collected from the program while a 16,000-metre reverse circulation program will test for further extensions to high-grade mineralisation along strike and at depth.

READ: Liontown Resources confirms lithium mining and processing potential

Preliminary test work on six holes of samples confirmed the potential to produce a saleable spodumene concentrate from Kathleen Valley with the next stage of work set for completion by mid-2019.

The next stage will:

Provide input data for the next stage of feasibility studies;

Optimise grade and recovery performance and produce a spodumene concentrate to a minimum 6% lithium oxide grade;

Confirm that a tantalum concentrate can be economically recovered; and

Provide sample for potential customers and off-take partners.

- Jessica Cummins

 

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Sun, 03 Feb 2019 21:38:00 +1100 https://www.proactiveinvestors.com.au/companies/news/213856/liontown-resources--high-grade-results-confirm-extensions-to-lithium-mineralisation-213856.html
<![CDATA[News - Liontown Resources study confirms lithium mining and processing potential ]]> https://www.proactiveinvestors.com.au/companies/news/213471/liontown-resources-study-confirms-lithium-mining-and-processing-potential-213471.html Liontown Resources Limited (ASX:LTR) has received positive scoping study outcomes demonstrating potential for a viable standalone lithium mining and processing operation at Kathleen Valley Lithium-Tantalum Project in WA.

The results were based upon engagement with various, highly credentialed Western Australian consultants using an extensive database of local capital and operating cost estimates.

As a result, the company has approved further studies and metallurgical test work to support a feasibility study targeted for completion in 2020.

“Very pleased with results”

Liontown Resources managing director David Richards said: “We are very pleased with the results of the scoping study.

“This has confirmed the potential to establish a significant new standalone lithium mining and processing operation capable of producing a spodumene concentrate for global and local markets.

360,000 tonnes annual concentrate production

“The scoping study outlines a base case 2 million tonnes/annum development with  potential to produce approximately 360,000 tonnes of spodumene concentrate over an initial 8 to 9-year mine life.

“This is a similar scale of operation to those which have recently been successfully commissioned in the Pilbara region of WA by Pilbara Minerals and Altura Mining.

“Importantly using conservative forecast product pricing assumptions, the study estimates competitive life of mine cash operating costs of around US$376 per tonne FOB of spodumene concentrate and potentially US$308 per tonne net of tantalum credits.

Potential to grow resource base

“Given these impressive results and the project’s location in a well-established mining district close to high-quality infrastructure, as well as the strong potential to continue growing the resource base, the board of Liontown has approved the commencement of further studies and a new drilling program to expand the existing mineral resource.

Commitment to move forward

“We have clear commitment to move the project forward as quickly as we can with a view to delivering a full definitive study by early 2020 and then moving into a financing and construction phase.

“That will position Kathleen Valley to take advantage of what is widely anticipated to be a rapid expansion of the global lithium-ion supply chain next decade as the electrification of the world’s transport fleet really begins to gather momentum.”

Next steps

Discussions with potential strategic offtake partners and consideration of financing alternative have begun with a new drilling program aimed at expanding the current mineral resource estimate starting in February 2019.

Further feasibility studies will begin in conjunction with advancing several opportunities to enhance financial metrics and to de-risk key elements of the project.

- Jessica Cummins

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Tue, 29 Jan 2019 02:01:00 +1100 https://www.proactiveinvestors.com.au/companies/news/213471/liontown-resources-study-confirms-lithium-mining-and-processing-potential-213471.html
<![CDATA[News - Liontown Resources’ Toolebuc project hosts an 84 million tonne maiden resource ]]> https://www.proactiveinvestors.com.au/companies/news/201784/liontown-resources-toolebuc-project-hosts-an-84-million-tonne-maiden-resource-201784.html Liontown Resources Limited (ASX:LTR) has established a maiden 84 million tonne vanadium resource for the Cambridge deposit at its wholly-owned Toolebuc project in northwest Queensland.

The company called the achievement confirmation the 1,000 square kilometre project 400 kilometres west of Townsville was a “signification addition” to its existing battery metals assets.

Resource features molybdenum

The 0.30% vanadium inferred mineral resource was prepared by independent assessor Optiro Pty Ltd and remains open.

Optiro applied a 0.25% cut-off grade to its assessment.

The inferred resource also contained 188 parts per million of molybdenum trioxide.

Liontown said an exploration target of 100-110 million tonnes grading about 0.28% to 0.32% vanadium had also been estimated adjacent to the inferred resource.

The company is planning to drill this target to extend the resource.

Toolebuc potential ‘demonstrated’

Liontown managing director David Richards said the maiden JORC 2012 resource for Toolebuc demonstrated the scale and potential of the project.

“The Cambridge deposit has a number of exciting attributes which make it a significant and potentially valuable addition to our portfolio of Australian battery metals projects,” he said.

“These include the shallow nature of the mineralisation, its proximity to major existing regional infrastructure, and the fact that it remains open and offers substantial growth potential – plus the opportunity for further discoveries within our large tenement holding.

“We intend to pursue this project with vigour, in parallel with our emerging lithium projects at Kathleen Valley and Buldania in Western Australia.”

Cambridge near Lilyvale

Mineralisation at Cambridge extends from 1 metre to 22 metres below surface, on average to 10 metres, and is about 2-17 metres thick, averaging about 9.7 metres thick.

Liontown’s Cambridge resource is immediately east of Intermin Resources Limited’s (ASX:IRC) 670 million tonne Lilyvale resource which is graded at 0.35% vanadium.

Cambridge is 5 kilometres long and up to 3 kilometres wide.

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Sun, 29 Jul 2018 23:43:00 +1000 https://www.proactiveinvestors.com.au/companies/news/201784/liontown-resources-toolebuc-project-hosts-an-84-million-tonne-maiden-resource-201784.html
<![CDATA[News - Liontown Resources has lithium results on the table from the newly acquired Buldania ]]> https://www.proactiveinvestors.com.au/companies/news/186223/liontown-resources-has-lithium-results-on-the-table-from-the-newly-acquired-buldania-186223.html Liontown Resources Ltd (ASX:LTR) recently acquired two projects, Buldania and Norcott, prospective for pegmatite-hosted lithium mineralisation.

The projects are located in the southern part of the Eastern Goldfields Province of Western Australia, a region well known for hosting significant lithium deposits including Mt Marion and Bald Hill.

Investors haven't had to wait long for results, with Liontown entering a trading halt this morning pending exploration results from Buldania.

The halt will remain in place until the opening of trade on Monday 30th October 2017, or earlier if an announcement is made to the market.

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Thu, 26 Oct 2017 09:37:00 +1100 https://www.proactiveinvestors.com.au/companies/news/186223/liontown-resources-has-lithium-results-on-the-table-from-the-newly-acquired-buldania-186223.html
<![CDATA[News - Liontown Resources acquires two lithium projects in the Eastern Goldfields ]]> https://www.proactiveinvestors.com.au/companies/news/185987/liontown-resources-acquires-two-lithium-projects-in-the-eastern-goldfields-185987.html Liontown Resources Limited (ASX:LTR) has acquired two highly prospective lithium projects, Buldania and Norcott, located in the Eastern Goldfields of Western Australia.

Both the projects are located in a region well known for hosting significant lithium deposits, including Mt Marion and Bald Hill.

At Buldania, Liontown has entered into an agreement with a subsidiary of Westgold Resources (ASX:WGX) to secure the rights to lithium while Westgold will retain the rights to all other metals.

Although there has been no previous lithium exploration at Buldania, past geological mapping and petrological analyses have defined a large, undrilled, spodumene-bearing pegmatite swarm.

Individual pegmatites up to 500 metres long and 150 metres wide have been mapped at surface; however, true thicknesses are unknown due to the lack of structural and drill data.

The Norcott project is located four kilometres south of Buldania and includes the strike extension of the same lithium prospective stratigraphy.

Following the sale of its Bynoe Lithium project in the Northern Territory for $3.5 million, Liontown is well positioned to advance the Buldania and Norcott Projects.

Liontown’s new acquisitions are consistent with its stated strategy of exploring for and developing battery-related metal projects.

The new projects will complement the company’s other Australian projects, including the Kathleen Valley Lithium-Tantalum Project in Western Australia and the RJC Vanadium Project in Queensland.

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Mon, 23 Oct 2017 13:39:00 +1100 https://www.proactiveinvestors.com.au/companies/news/185987/liontown-resources-acquires-two-lithium-projects-in-the-eastern-goldfields-185987.html
<![CDATA[News - Liontown Resources calls halt in shares for asset update ]]> https://www.proactiveinvestors.com.au/companies/news/183873/liontown-resources-calls-halt-in-shares-for-asset-update-183873.html Liontown Resources Ltd (ASX:LTR) has been granted a trading halt this morning by the ASX, pending details of an asset disposal.

Liontown recently exercised an option to acquire 100% of the Bynoe lithium project in the Northern Territory.

The company also has assets in Tanzania.

The halt will remain in place until the opening of trade on Friday 15th September 2017, or earlier if an announcement is made to the market.

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Wed, 13 Sep 2017 10:28:00 +1000 https://www.proactiveinvestors.com.au/companies/news/183873/liontown-resources-calls-halt-in-shares-for-asset-update-183873.html
<![CDATA[News - Liontown Resources discovers lithium zone in Tanzania ]]> https://www.proactiveinvestors.com.au/companies/news/175973/liontown-resources-discovers-lithium-zone-in-tanzania-175973.html Liontown Resources (ASX:LTR) has identified high-grade, spodumene-related lithium mineralisation at its Mohanga Lithium-Tantalum Project in Tanzania.

The Mohanga Project, which Liontown acquired in late 2015, covers a total area of 177 square kilometres and is located circa 40 kilometres from Tanzania’s capital Dodoma.

The anomalous results come from the Tresor prospect, where rock chip sampling has recorded high grade lithium assays up to 3.3% lithium and >100 ppm tantalum.

The pegmatite zone is interpreted to be up to 90 metres wide and at least 500 metres long, with the trend open along strike beneath transported cover.

The high-grade (>1%) lithium zone is up to 30 metres thick and at least 150 metres long; however, its full extent is unknown due to limited outcrop.

The latest results have given Liontown the confidence to progress exploration activities including additional trenching and soil sampling.

A maiden drilling program will be designed based on the results of this work.

In addition to targeting lithium mineralisation, further work will also be undertaken to assess the potential of the Mohanga Project to host Archaean greenstone-hosted gold mineralisation.

Previous soil sampling has recorded up to 120 ppb gold at the Halo prospect.

Liontown’s shares were last trading 5.26% higher intra-day on Wednesday, at $0.02.

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Wed, 05 Apr 2017 13:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/175973/liontown-resources-discovers-lithium-zone-in-tanzania-175973.html
<![CDATA[News - Liontown Resources begins drilling for lithium at Kathleen Valley ]]> https://www.proactiveinvestors.com.au/companies/news/173293/liontown-resources-begins-drilling-for-lithium-at-kathleen-valley-173293.html Liontown Resources (ASX:LTR) has commenced the maiden reverse circulation drilling program at its Kathleen Valley Lithium-Tantalum Project, located in the Eastern Goldfields of Western Australia.

The Kathleen Valley Project is located 680 kilometres northeast of Perth and near to infrastructure, including the Goldfields Highway and the Goldfields Natural Gas Pipeline.

The program will initially comprise 2,000–3,000 metres of drilling and will test beneath and along strike of spodumene-mineralised pegmatite outcrops.

Previous rock chip sampling of these outcrops had returned numerous high grade lithium (>2% lithium) and tantalum values (up to 735ppm tantalum).

Liontown has mapped a pegmatite trend at surface which is more than 1-kilometre long, up to 30 metres wide and open along strike.

There has been no previous drilling in the immediate area or beneath the mineralised pegmatites.

The previous exploration at the project area focused on gold and nickel with the lithium potential untested.

Furthermore, Liontown is planning to soon start drilling at the Lake Percy Lithium Project in the heart of the Southern Yilgarn lithium province in Western Australia.

Importantly, the company has already identified a 2 kilometre-long strong lithium trend with thick pegmatites.

The project is located just 60 kilometres from Kidman Resources’ (ASX:KDR) world-class Earl Grey lithium discovery.

Liontown’s share price has increased more than 70% since the start of 2017, last trading at $0.029.

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Fri, 17 Feb 2017 11:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/173293/liontown-resources-begins-drilling-for-lithium-at-kathleen-valley-173293.html
<![CDATA[News - Liontown Resources bags $2.52M to accelerate lithium exploration ]]> https://www.proactiveinvestors.com.au/companies/news/172070/liontown-resources-bags-252m-to-accelerate-lithium-exploration-172070.html The placement was at an issue price of $0.02 per share and was strongly supported by professional and institutional investors, closing heavily oversubscribed.

Liontown will commence drilling at the Kathleen Valley Lithium-Tantalum Project in early to mid February 2017; at the Lake Percy Lithium Project in late February 2017; and at the Bynoe Lithium Project in Q2 2017.

Previous work at Kathleen Valley has defined multiple spodumene-bearing pegmatites with numerous high grade lithium (>2% lithium) values recorded from rock chip sampling.

The drilling, which will initially comprise 20-30 holes for circa 2,500 metres, will target the northern part of the pegmatite field, including outcropping zones of mineralisation.

At the Lake Percy Lithium Project, an anomalous lithium-in-soil trend which contains values of up to 354 ppm lithium has been outlined over a strike length of 2 kilometres.

A 2,000 - 2,500 metres reverse circulation drilling program has been designed to test beneath the strongest lithium soil geochemical anomalisms.

The drilling at the Bynoe Project will commence after the northern Australian wet season and will target immediate extension of the Grants and Sandras trends.

This is an interesting phase for Liontown as it looks to uncover Australia’s next major lithium deposit.

Liontown’s shares were last trading 4.35% higher intra-day on Tuesday, at $0.024.

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Tue, 24 Jan 2017 13:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/172070/liontown-resources-bags-252m-to-accelerate-lithium-exploration-172070.html
<![CDATA[News - Liontown Resources in capital raising ]]> https://www.proactiveinvestors.com.au/companies/news/171984/liontown-resources-in-capital-raising-171984.html The company is pending details in relation to a capital raising.

The halt will remain in place until the opening of trade on Wednesday, 25th January 2017, or earlier if an announcement is made to the market.

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Mon, 23 Jan 2017 11:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/171984/liontown-resources-in-capital-raising-171984.html
<![CDATA[News - Liontown Resources’ drilling reveals potential of Bynoe Lithium Project ]]> https://www.proactiveinvestors.com.au/companies/news/168433/liontown-resources-drilling-reveals-potential-of-bynoe-lithium-project-168433.html The results confirm extensions to the previously defined Sandras Prospect and returned additional thick intercepts of spodumene-related lithium mineralisation.

Best results from the drilling program include:
- 27 metres at 1.1% lithium from 94 metres; and
- 28 metres at 1.0% lithium from 77 metres.

The program comprised 34 drill holes for a total 3,750 metres and tested 15 prospects. Assay results are awaited for 10 prospects.

Liontown’s drilling was designed to follow up previously reported >1% lithium intersections at Sandras, Talmina West, Rocky Ridge, BP33 and Lees, as well as ten other mapped pegmatite targets.

The latest drilling at the Sandras Prospect, together with previously reported intersections, have defined a 200-metre long, steeply-plunging shoot with true width up to 35 metres.

With assay results awaited for a further 10 prospects, there is potential to delineate an economic lithium deposit at Bynoe.

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Thu, 03 Nov 2016 08:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/168433/liontown-resources-drilling-reveals-potential-of-bynoe-lithium-project-168433.html
<![CDATA[News - Liontown Resources Ltd opens rights issue to fast-track lithium projects ]]> https://www.proactiveinvestors.com.au/companies/news/165194/liontown-resources-ltd-opens-rights-issue-to-fast-track-lithium-projects-70873.html Liontown Resources Ltd (ASX:LTR) will undertake a $1.4 million rights issue to fast-track drilling of two highly prospective Australian lithium projects.

The funds will be used for drilling programs at the Bynoe Lithium Project in the Northern territory and the Kathleen Valley Lithium-Tantalum Project in Western Australia.

The drilling at the Bynoe Lithium Project, located 50 kilometres from Darwin, is planned to commence within the next few weeks.

The company recently completed a maiden drilling program at Bynoe, confirming the presence of thick spodumene-related lithium mineralisation.

Lithium values of >1% Li2O were returned at six of the initial 10 targets tested.

Drilling will also commence at the Kathleen Valley Project as soon as permitting and heritage clearance is obtained.

The project contains a spodumene-bearing pegmatite swarm extending 3.5 kilometres by 1 kilometre and represents an advanced lithium opportunity with walk-up drilling targets.

Surface samples of up to 3.5% Li2O have been discovered at the Mt Mann and Kathleen’s Corner prospects, enhancing the economic potential of the Kathleen Valley Project.

Liontown’s 1-for-5 non-renounceable pro-rata rights issue is at a price of $0.01 per share.

Notably, Liontown’s Chairman and largest shareholder, Tim Goyder, has confirmed his intention to take up his full entitlement worth $377,000.

All other directors have also committed to take up their full entitlements.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 06 Sep 2016 13:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/165194/liontown-resources-ltd-opens-rights-issue-to-fast-track-lithium-projects-70873.html
<![CDATA[News - Liontown Resources Ltd to acquire Kathleen Valley lithium rights ]]> https://www.proactiveinvestors.com.au/companies/news/165193/liontown-resources-ltd-to-acquire-kathleen-valley-lithium-rights-70250.html Liontown Resources Ltd (ASX:LTR) has entered into an agreement to acquire 100% of the rare metal rights, including lithium and tantalum, at the Kathleen Valley Project in Western Australia.

The project, located 680 kilometres northeast of Perth, is currently held by Ramelius Resources Ltd (ASX:RMS).

Liontown will acquire the mining leases by issuing 25 million ordinary shares, worth $525,000 valued at Liontown’s last traded share price.

Ramelius is presently conducting gold mining operations at the Kathleen Valley Project, which are expected to conclude later this year.

The project contains a spodumene-bearing pegmatite swarm extending 3.5 kilometres by 1 kilometre and represents an advanced lithium exploration opportunity with walk-up drilling targets.

Liontown’s initial focus will be the Mt Mann area, where a publicly available report and previous mapping has documented a swarm of spodumene-bearing pegmatites.

One traverse of rock chip sampling by Liontown across the Mt Mann pegmatite reported results of 3.9%, 1.5%, 1.8% and 1.2% Li2O (for an average of 2.1% Li2O) and an average Ta2O5 value of 195 ppm.

Liontown is planning to commence systematic rock chip sampling across all pegmatites in the 3.5 x 1 kilometre swarm, followed by reverse circulation drilling.

Ramelius will continue to retain exclusive gold rights and uninhibited access for gold-mining related activities.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 04 Aug 2016 14:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/165193/liontown-resources-ltd-to-acquire-kathleen-valley-lithium-rights-70250.html
<![CDATA[News - Liontown Resources Ltd to pounce on lithium project ]]> https://www.proactiveinvestors.com.au/companies/news/158104/liontown-resources-ltd-to-pounce-on-lithium-project-70211.html Liontown Resources Ltd (ASX:LTR) is preparing some details on the acquisition of a lithium project.

The ASX has granted the company a trading halt to prepare, with its shares placed in pre-open.

The halt will remain in place until the opening of trade on Friday 5th August 2016, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 03 Aug 2016 10:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/158104/liontown-resources-ltd-to-pounce-on-lithium-project-70211.html
<![CDATA[News - Liontown Resources Ltd finds strong investor support for lithium capital raising ]]> https://www.proactiveinvestors.com.au/companies/news/158103/liontown-resources-ltd-finds-strong-investor-support-for-lithium-capital-raising-67742.html Liontown Resources Ltd (ASX:LTR) has received firm commitments to raise $1.3 million before issue costs to fund the exploration and evaluation of its lithium projects in Australia and Africa.

The non-brokered placement, comprising 87,133,335 shares at an issue price of $0.015 per share, was oversubscribed with support from a number of sophisticated and professional investors.

Liontown shares have been on a tear since August 2015 when the share price was $0.005.

The funds raised will be used to advance the company’s exploration and drilling activities at the Bynoe Lithium Project in Northern Territory, the Mohanga Lithium Project in Tanzania and for general working capital purposes.

The placement is scheduled to be completed on or around 31 March 2016.

Liontown has also reached an agreement with Chairman Tim Goyder to settle at par, an outstanding loan of $350,000 provided by Mr. Goyder, by issuing 23,333,333 shares to him at $0.015 per share.

In addition, 2,666,666 fully paid ordinary shares will be placed to the company’s non-executive director Craig Williams at $0.015 per share to raise an additional $40,000.

The Company will hold a general meeting of shareholders in May 2016 to consider the issue of shares to Mr Goyder and Mr Williams.

Liontown had announced in early February 2016, the acquisition of the Bynoe Lithium Project near Darwin.

Liontown announced further expansion of the Bynoe project in March 2016, by acquiring the Hang Gong pegmatite.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Tue, 29 Mar 2016 16:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/158103/liontown-resources-ltd-finds-strong-investor-support-for-lithium-capital-raising-67742.html
<![CDATA[News - Liontown Resources Ltd raising funds after lithium expansion ]]> https://www.proactiveinvestors.com.au/companies/news/158102/liontown-resources-ltd-raising-funds-after-lithium-expansion-67669.html Liontown Resources Ltd (ASX:LTR) has been granted a trading halt by the ASX, pending details of a capital raising.

Earlier in the week the company satisfied due diligence for the acquisition of a 100% interest in the Hang Gong property.

The property comprises two tenements, MLN16 and EMP28651, which will form part of Liontown’s larger Bynoe lithium-tantalum project in the Northern Territory.

The halt will remain in place until the opening of trade on Tuesday 29th March 2016, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 23 Mar 2016 11:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/158102/liontown-resources-ltd-raising-funds-after-lithium-expansion-67669.html
<![CDATA[News - Liontown Resources Ltd adds to growing lithium-tantalum portolio ]]> https://www.proactiveinvestors.com.au/companies/news/158101/liontown-resources-ltd-adds-to-growing-lithium-tantalum-portolio-67651.html Liontown Resources Ltd (ASX:LTR) is proceeding with the acquisition of Hang Gong property near Liontown’s Bynoe lithium-tantalum project acquired in February/March 2016, located 40 kilometres south of Darwin.

The acquired 80km2 tenement package near Darwin contains an extensive pegmatite field with lithium mineralisation reported from a number of prospects.

It comes with drill ready targets.

The Hang Gong property will enhance Bynoe and comprises two tenements, MLN16 and EMP28651, which will form part of the larger Bynoe lithium-tantalum project.

Pegmatites up to 390 metres long and 60 metres wide have been defined on Liontown’s project area by previous explorers.

The area is known for its tin-tantalum mineralisations which is commonly associated with lithium.

Liontown Resources will have the drill spinning at Bynoe in May 2016.

In January 2016, Liontown Resources announced that grades of up to 4.93% lithium and 1,862ppm tantalum were returned from two prospect areas at its central Tanzanian project.

The company also owns the Jubilee Reef Gold Project in Tanzania with a resource base of 390,000 ounces.

Reflecting the interest in the lithium projects, the share price of Liontown Resources has been on an upward trend since October 2015.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Tue, 22 Mar 2016 15:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/158101/liontown-resources-ltd-adds-to-growing-lithium-tantalum-portolio-67651.html
<![CDATA[News - Liontown Resources finds lithium and tantalum in Tanzania ]]> https://www.proactiveinvestors.com.au/companies/news/158100/liontown-resources-finds-lithium-and-tantalum-in-tanzania-66695.html Lithium is a story that continues to play out as Liontown Resources (ASX:LTR) finds lithium and tantalum from trenching work at its central Tanzanian project.

The Mohanga project which Liontown acquired last year, contains a number of historical lithium occurrences which is notable as this is apparently the only lithium find reported in Tanzania.

Grades of up to 4.93% lithium and 1,862ppm tantalum were returned from two prospect areas.

Given the Mohanga Project area is 177km2 and underlain by an Archaean greenstone belt with no exploration to date, further exploration will look to define spodumene mineralisation, a primary hard rock source of lithium globally.

Investors have bid listed lithium stocks higher and higher as growth potential of the lithium-ion battery sector is projected to increase rapidly.

 


Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Mon, 25 Jan 2016 09:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/158100/liontown-resources-finds-lithium-and-tantalum-in-tanzania-66695.html
<![CDATA[News - Liontown Resources to update on activities in Tanzania ]]> https://www.proactiveinvestors.com.au/companies/news/158099/liontown-resources-to-update-on-activities-in-tanzania-66238.html Liontown Resources (ASX:LTR) has been granted a trading halt by the ASX, pending an update on recent field activities at the Mohanga Project in Tanzania, East Africa.

The halt will last until the opening of trade on Monday 21st December 2015, or earlier if an announcement is made to the market.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 17 Dec 2015 16:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/158099/liontown-resources-to-update-on-activities-in-tanzania-66238.html
<![CDATA[News - Liontown Resources to reveal next step in Tanzania ]]> https://www.proactiveinvestors.com.au/companies/news/158098/liontown-resources-to-reveal-next-step-in-tanzania-65743.html Liontown Resources (ASX:LTR) has been granted a trading halt by the ASX, with its shares placed in pre-open.

Liontown requested the halt pending details in relation to a transaction where it has secured the rights to a lithium-tantalum project in Tanzania.

The halt will remain in place until the opening of trade on Wednesday 25th November 2015, or earlier if an announcement is made to the market.

 

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Mon, 23 Nov 2015 10:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/158098/liontown-resources-to-reveal-next-step-in-tanzania-65743.html
<![CDATA[News - Liontown Resources to acquire high grade copper-zinc project in Tanzania ]]> https://www.proactiveinvestors.com.au/companies/news/158097/liontown-resources-to-acquire-high-grade-copper-zinc-project-in-tanzania-54512.html Liontown Resources (ASX: LTR) has entered three agreements to acquire a high grade copper-zinc Project in northern Tanzania.

Rock chip sampling at the Ibaga project recorded very high copper and zinc values with associated silver and gold.

Better results included 39.2% copper with 126g/t silver; 34.6% copper with 128g/t silver; 12.6% copper with 11.3% zinc and 136g/t silver, and 45.8% zinc with 0.54% copper and 24g/t silver.

These high metal values are hosted by massive to semi-massive sulphide horizons up to 4 metres thick, with mineralisation exposed in pits indicating minimum strike length of 300 metres, with strike extensions obscured by thin soil cover.

Notably, no previous drilling or other modern exploration has been undertaken at the project.

Liontown has completed due diligence for two of the agreements, with finalisation of the third pending.

The three agreements are with separate and independent parties who hold a Total of 34 tenements which together form the Ibaga, Ibaga North and Ibaga West contiguous tenements.

Total combined consideration payments, assuming all are exercised, involve initial fees of US$230,000 payable after satisfaction of all conditions, and annual payments of US$125,000 on the first anniversary, reducing to $15,000 by the 5th year.

Various royalties are to paid to the vendors, ranging up to a 1% gross royalty in addition to the statutory government royalty of 4%.

Lion will pay a maximum of US$2.7 million in total acquisition and royalty costs, with option periods ranging between two and five years.

Following acquisition of geophysical and geochemical data, Liontown intends to undertake a reverse circulation drill program to test for immediate strike and depth extensions of the mineralisation visible in the open pits pits.

Recently, Liontown also expanded its Tanzanian gold operations, after securing an option to acquire a 100% interest in a high grade gold project in the Lake Victoria Goldfield of northern Tanzania.

The company is presently valued at around $14 million.

Highlight intercepts from this project include 12 metres at 3.9 grams per tonne gold from 32 metres, 6 metres at 6g/t gold from 26 metres and 8 metres at 4.3g/t gold from 10 metres.

There has been no drilling on the property since the 1990s, and the mineralised trend remains open in all directions.

 

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Thu, 24 Apr 2014 16:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/158097/liontown-resources-to-acquire-high-grade-copper-zinc-project-in-tanzania-54512.html
<![CDATA[News - Liontown Resources secures project in Tanzania with 39.2% copper rock chips ]]> https://www.proactiveinvestors.com.au/companies/news/158096/liontown-resources-secures-project-in-tanzania-with-392-copper-rock-chips-54054.html Liontown Resources (ASX: LTR) has secured a new copper-zinc project in northern Tanzania after entering option agreements to acquire a contiguous ground package known as the Ibaga Project.

Rock chip samples by Liontown have returned up to 39.2% copper, 45.8% zinc, and 136g/t silver, with other results of 34.6% copper, 15% copper and 11.3% zinc.

The project incorporates 34 tenements held by three independent owners, and represents a valuable addition to Liontown's exploration portfolio in Tanzania.

Notably, there has been no previous drilling or modern exploration within the Ibaga Project area.

Mineralisation is hosted by at least two trending, steeply dipping, massive sulphide horizons up to 4 metres thick which have been exposed in small, 20-40 metre deep open pits being mined by local operators.

The distribution of workings currently mined by local groups indicates a main zone with a minimum strike length of 300 metres and a hanging wall zone of open length.

Following acquisition of geophysical and geochemical data, Liontown intends to undertake a reverse circulation drill program in mid-2014 to test for immediate strike and depth extensions of the mineralisation exposed in the pits.

Consideration payments, assuming all options are exercised, include an initial fee of US$230,000 payable after satisfaction, and annual payments of US$125,000 on the first anniversary reducing to $15,000 by the 5th year.

A maximum of US$2.7million with option periods ranging between two and five years will be paid by Liontown, as well as various royalties ranging up to a 1% gross royalty in addition to the statutory government royalty of 4%.

Liontown is capitalised at about $10 million, and drilling below rock chips of 39% copper and 45% zinc is bound to attract some market interest.

 

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Wed, 02 Apr 2014 11:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/158096/liontown-resources-secures-project-in-tanzania-with-392-copper-rock-chips-54054.html
<![CDATA[News - Liontown Resources expands Tanzanian gold footprint ]]> https://www.proactiveinvestors.com.au/companies/news/158095/liontown-resources-expands-tanzanian-gold-footprint--42633.html Liontown Resources (ASX: LTR) has secured an option to acquire a 100% interest in a high grade gold project in the Lake Victoria Goldfield of northern Tanzania from private Tanzanian company Bismark Hotel Mining Company.

Importantly, this option provides the company with a low cost entry to a prospective ground package with extensive gold mineralisation.

The project, named the Rupa/Suguti property, comprises a largely contiguous package of tenements covering Archaean greenstones, and includes a previously defined 7 kilometre long, east to west trending gold mineralised corridor.

The Rupa-Suguti Option Agreement is Liontown’s second property in Tanzania alongside the Jubilee Reef Project located about 200 kilometres to the south. 

In the 1990s, shallow reverse circulation drilling of 16 holes over an 800 metres section, known as the Chirorwe prospect, recorded multiple intersections that indicate the presence of good gold grades and continuous mineralisation.

Highlight intercepts include 12 metres at 3.9 grams per tonne (g/t) gold from 32 metres, 6 metres at 6g/t gold from 26 metres and 8 metres at 4.3g/t gold from 10 metres.

There has been no drilling on the property since the 1990s program and the mineralised trend remains open in all directions.

In 2008-09, Twigg Gold also held an option on the property and excavated a single trench across the Chirorwe mineralised zone, as well as undertook soil sampling and ground magnetics over the larger project area.

Assays from the trench recorded 16 metres at 5.5g/t gold with strong gold values recorded from both siliceous lode material and adjacent altered basaltic wall rocks.

As part of the due diligence process, Liontown undertook rock chip sampling of artisanal workings coincident with the area drilled at Chirorwe recording strong gold values of up to 18.9g/t in lode material and adjacent wall rock, over a 600 metre strike.

Gold assays from Liontown’s sampling are consistent with previous drilling and trench results.

The company will complete infill soil sampling over the entire 7 kilometre long gold corridor to define further drill targets in addition to the Chirorwe prospect.


Option terms

Under the option agreement, Liontown must make an initial payment of US$20,000 and annual payments of US$15,000 for up to three years.

The company then has the right to wholly acquire the project by paying between US$750,000 and $1.5 million depending on the timing of exercising the option and the grade and tonnage of any resource discovered.

Once the option is exercised, Liontown will also pay Bismark a royalty of US$3 per ounce.

At the end of the March quarter 2013, Liontown’s cash balance was about $1.4 million.


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Tue, 30 Apr 2013 12:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/158095/liontown-resources-expands-tanzanian-gold-footprint--42633.html
<![CDATA[News - Liontown Resources to move to full ownership of Tanzanian gold project ]]> https://www.proactiveinvestors.com.au/companies/news/158094/liontown-resources-to-move-to-full-ownership-of-tanzanian-gold-project-42577.html Liontown Resources (ASX: LTR) has inked a deal to acquire the remaining 34% interest in the Jubilee Reef Gold Project in Tanzania from joint venture partner Currie Rose Resources, giving Liontown full ownership of the project.

The company said consolidating ownership of the project was an important factor in being able to manage future exploration as effectively as possible.

Consideration for the 34% interest is the issue of 12 million Liontown shares, which were last trading at $0.018 – valuing the share issue at $216,000, and a cash payment of up to US$120,000 (A$116,427) for any transaction costs.

The Jubilee Reef Project is located about 850 kilometres northwest of Dar es Salaam within the Lake Victoria Goldfield of northern Tanzania.

This is an Archaean greenstone-granite terrain which hosts several multimillion ounce gold deposits including African Barrick’s Bulyanhulu deposit and AngloGold Ashanti’s Geita deposit.

Since starting work on the Jubilee Reef Project in mid-2011, Liontown has drilled a total of 22,296 metres of reverse circulation, diamond and aircore drilling.

Extensive gold mineralisation has been discovered near some of Tanzania’s largest gold mining operations.

The Jubilee Reef Project abuts tenements owned by African Barrick Gold, Tanzania’s largest gold miner.

Three advanced prospects – Masabi Hill, Panapendesa and Chela – have been delineated to date with more to be tested and strong potential for a large scale gold discovery.

Broad, near-surface gold zones have been intersected at Masabi Hill and Panapendesa.

Better intersections, at Masabi Hill in particular, comprise 50 metres at 1.8 grams per tonne (g/t) gold from 40 metres, including 27 metres at 2.8g/t gold; 62 metres at 2.4g/t gold from 70 metres, including 21 metres at 4.7g/t gold; and 86 metres at 1.7g/t gold from 9 metres, including 44 metres at 3g/t gold.

At Masabi Hill, early results have highlighted the potential for repeats of nearby gold deposits.

The gold anomalism remains open, with the potential for a large gold system with multiple lodes.

A review of all data is well advanced and planning is underway for field work to be undertaken once the northern Tanzanian wet season has ended.


New agreement terms

Under the terms of the existing Jubilee Reef joint venture agreement, Currie Rose would receive a 3% net smelter royalty upon its interest being diluted to 5%.

Under the new agreement, Currie Rose will now receive a 2% net smelter royalty on future gold production from the Jubilee Reef Project.

Liontown will have the option to purchase the 2% net smelter royalty in the event that a Preliminary Economic Assessment is completed for a resource in excess of 250,000 ounces of gold or gold equivalent.

At the end of the March quarter 2013, Liontown’s cash balance was about $1.4 million.


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Mon, 29 Apr 2013 13:40:00 +1000 https://www.proactiveinvestors.com.au/companies/news/158094/liontown-resources-to-move-to-full-ownership-of-tanzanian-gold-project-42577.html
<![CDATA[News - Liontown Resources discovers broad gold zones during Tanzanian elephant hunt ]]> https://www.proactiveinvestors.com.au/companies/news/158093/liontown-resources-discovers-broad-gold-zones-during-tanzanian-elephant-hunt-37179.html Liontown Resources (ASX: LTR) is hunting for elephants in the Tanzanian goldfields, with the company discovering very broad mineralised zones in the north of the country.

Jubilee Reef is located in the heart of the Lake Victoria Goldfields, one of the world’s premier gold provinces.

Another plus for Liontown is that its tenements and sandwiched between Tanzania’s largest gold miner, African Barrick Gold, which is active on the boundary.

The latest reverse circulation drilling highlight is; 88 metres at 1.8g/t gold from 8 metres, including 44 metres at 3.1g/t gold, discovered at the Masabi Hill prospect within Jubilee Reef.

Result follows on from a number of recently reported significant intersections at Masabi Hill and the Panapendesa prospect where assaying of 1 metre samples has recorded high grade values including; 4 metres at 15.4g/t gold from 113 metres, including 1 metre at 46.9g/t gold.

Liontown has now wrapped up drilling for 2012 which covered around 17,000 metres.


Lake Victoria Goldfield

Highlighting the potential of the area, the Lake Victoria Goldfield has a plus 50 million ounce gold endowment, and is home to several world-scale deposits, including multiple plus 10 million ounce deposits and six operating mines.

Thes operating mines include Bulyanhulu (African Barrick Gold ~17Moz), Geita (AngloGold Ashanti ~12.5Moz) and Buzwagi (African Barrick Gold ~4.5Moz).

 

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Tue, 11 Dec 2012 15:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/158093/liontown-resources-discovers-broad-gold-zones-during-tanzanian-elephant-hunt-37179.html
<![CDATA[News - Liontown Resources uncovers more gold at Jubilee Reef gold project ]]> https://www.proactiveinvestors.com.au/companies/news/158092/liontown-resources-uncovers-more-gold-at-jubilee-reef-gold-project-36176.html Liontown Resources (ASX: LTR) has received encouraging gold assay results from recent drilling at the Masabi Hill and Panapendesa prospects in the Jubilee Reef project, Tanzania.

Notable results at the more advanced Masabi Hill prospect, where multiple zones with more than 1 gram per tonne (g/t) gold were intersected from the southern and central parts of the intrusive complex include:

-    8 metres at 4.7 g/t gold from 112 metres; and
-    23 metres at 2.1g/t gold from 51 metres including 14 metres at 3.2g/t gold from 52 metres.

Shallow drilling at the prospect has intersected a new zone of mineralisation about 400 metres north of previously defined zones and assays are pending for reverse circulation drilling completed to follow up these results.

Anomalous gold has now been defined over 1 kilometre east-west and 800 metres north-south at Masabi Hill with the mineralised system still not closed off.

Further drilling is required to determine the true widths and controls of the mineralisation at Masabi Hill.

Eight of the 49 reverse circulation drill holes in the program targeted Panapendesa and returned notable results including:

-    12 metres at 3.8g/t gold from 93 metres including 8 metres at 5.6g/t gold from 93 metres;
-    60 metres at 1.2g/t gold from surface including 24 metres at 2.5g/t gold from 24 metres; and
-    60 metres at 1.1 g/t gold from 44 metres including 24 metres at 1.5g/t gold from 48 metres.

These holes were designed to test the continuity and strike extents of previously reported gold mineralisation.

Continuous gold mineralisation has now been intersected over 300m strike at Panapendesa with the latest results indicating multiple, steep south dipping lodes.

Assays are still pending for a number of reverse circulation holes at both prospects and follow up drilling will be planned once all results are processed.

Three traverses of aircore drilling were undertaken at Chela to test the south eastern part of the interpreted granitic complex where it intrudes banded iron formation - a geological setting analogous to the Geita gold deposit located to the north of Jubilee Reef.

Strongly anomalous gold results were recorded from the ends of all three drill lines and further drilling is still required to define the limits of the mineralised system.

Liontown has a 51% interest in Jubilee Reef and has the option to earn up to 75% under its agreement with Canadian partner Currie Rose Resources (TSXV: CUI).

 

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Wed, 21 Nov 2012 12:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/158092/liontown-resources-uncovers-more-gold-at-jubilee-reef-gold-project-36176.html
<![CDATA[News - Liontown Resources earns 51% interest in Jubilee Reef gold project ]]> https://www.proactiveinvestors.com.au/companies/news/158091/liontown-resources-earns-51-interest-in-jubilee-reef-gold-project-34238.html Liontown Resources (ASX: LTR) has earned its initial 51% interest in the Jubilee Reef Gold Project in Northern Tanzania after completing more than 14,000 metres of drilling since starting work last year.

This could increase to about 64% if the work program is completed as planned as Canadian partner Currie Rose Resources (TSXV: CUI) has elected not to contribute to exploration expenditure for the last quarter of 2012.

Liontown is currently undertaking a combined 14,000 metre reverse circulation, aircore and diamond core drilling program to follow up multiple zones of gold mineralisation intersected previously on the project.

The Jubilee Reef Project is located in the Lake Victoria Goldfield, where Liontown is currently earning up to 75% equity in the project via a joint venture with Currie Rose.

The Lake Victoria Goldfield hosts granite/greenstone terrain similar to the Eastern Goldfields of Western Australia, and comprises a plus-50 million ounce gold endowment.

There are a number of 10 million ounce gold projects in this under-explored emerging region.

More recent drilling has returned outstanding results, highlighting the potential for a large-scale gold system at the Masabi Hill prospect.

Masabi Hill shows multiple gold zones with intersections of up to 62 metres at 2.4 grams per tonne (g/t) gold from the Discovery (Central) Zone and up to 74 metres at 1.8g/t gold from the Southern Zone.

The gold anomalism remains open, with the potential for a large gold system with multiple lodes.

Around 11,500 metres of drilling has been completed since the joint venture’s inception in 2011, with multiple priority gold prospects and mineralised zones identified.

Mineralisation has been drilled so far over 600 metres of strike and 600 metres of width, and the system appears to be shallow with significant growth potential. The majority of the Masabi granitoid remains untested.

A resource drilling program is targeted for 2013.

There appears to be an emerging gold system of significant size and scale at Jubilee Reef where multiple zones of mineralisation have been defined by Liontown to date, which is bullish for Liontown in 2012/2013.

 

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Mon, 08 Oct 2012 13:10:00 +1100 https://www.proactiveinvestors.com.au/companies/news/158091/liontown-resources-earns-51-interest-in-jubilee-reef-gold-project-34238.html
<![CDATA[News - Liontown Resources banks $1.1m to advance Tanzanian gold quest ]]> https://www.proactiveinvestors.com.au/companies/news/158090/liontown-resources-banks-11m-to-advance-tanzanian-gold-quest--34157.html Liontown Resources (ASX: LTR) has raised A$1.1 million after allotting the shortfall of shares from its recent non-renounceable rights issue, which was fully underwritten by Bell Potter Securities.

The proceeds from the entitlement offer, together with existing cash reserves, will primarily be used to advance the company’s Jubilee Reef Gold Project in Northern Tanzania.

The Jubilee Reef Project is located in the Lake Victoria Goldfield, where Liontown is currently earning up to 75% equity in the project via a joint venture with Currie Rose Resources (TSXV: CUI).

The Lake Victoria Goldfield hosts granite/greenstone terrain similar to the Eastern Goldfields of Western Australia, and comprises a plus-50 million ounce gold endowment.

The region features world class, above 10 million ounce gold deposits and established infrastructure.

Drilling during 2011 and 2012 from the Masabi Hill and Shangaza/Panapendesa prospects has confirmed the potential for economic mineralisation.

More recent drilling has returned outstanding results, highlighting the potential for a large-scale gold system at Masabi Hill.

Masabi Hill shows multiple gold zones with intersections of up to 62 metres at 2.4 grams per tonne (g/t) gold from the Discovery (Central) Zone and up to 74 metres at 1.8g/t gold from the Southern Zone.

The gold anomalism remains open, with the potential for a large gold system with multiple lodes.

Around 11,500 metres of drilling has been completed since the joint venture’s inception in 2011, with multiple priority gold prospects and mineralised zones identified.

Mineralisation has been drilled so far over 600 metres of strike and 600 metres of width, and the system appears to be shallow with significant growth potential. The majority of the Masabi granitoid remains untested.

Liontown is planning 5,400 metres of reverse circulation drilling to further define strike and dip extensions of substantial intersections at the Masabi Hill prospect, as well as following up on other known targets.

Around 9,000 metres of aircore drilling is also proposed which will further define the extent of gold mineralisation across the broader Jubilee Reef Project and identify further reverse circulation drilling targets.


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Thu, 04 Oct 2012 17:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/158090/liontown-resources-banks-11m-to-advance-tanzanian-gold-quest--34157.html
<![CDATA[News - Liontown Resources in pre open to prepare capital raising announcement ]]> https://www.proactiveinvestors.com.au/companies/news/158089/liontown-resources-in-pre-open-to-prepare-capital-raising-announcement-32550.html Liontown Resources (ASX: LTR) has been granted a trading halt today by the ASX pending the release of capital raising details, with the company's shares placed in pre-open.

Liontown has not yet indicated where the potential new inflow of funds will be allocated, but the company has recently been very busy with a drilling program at the Jubilee Reef joint venture in northern Tanzania - with all results forecast to be received by the end of this month.

The company has the right to earn 75% in the joint venture, with some drilling highlights from Masabi Central including; 62 metres at 2.4g/t gold from 70 metres; and 50 metres at 1.8g/t gold from 40 metres; and the higher grade 21 metres at 4.7g/t gold.

The halt will last until the earlier of an announcement being made to the market or the open of trade on Wednesday 22nd August.

 

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Mon, 20 Aug 2012 15:20:00 +1000 https://www.proactiveinvestors.com.au/companies/news/158089/liontown-resources-in-pre-open-to-prepare-capital-raising-announcement-32550.html
<![CDATA[News - Liontown Resources identifies potential new gold zone at Jubilee Reef ]]> https://www.proactiveinvestors.com.au/companies/news/158088/liontown-resources-identifies-potential-new-gold-zone-at-jubilee-reef-29900.html Liontown Resources (ASX: LTR) has highlighted the potential discovery of a new zone of gold mineralisation in results from recent drilling at the Jubilee Reef Project in Northern Tanzania.

The most recent assay from reverse circulation percussion drilling at Liontown’s flagship Masabi Hill prospect has returned 80 metres at 1.7 grams per tonne (g/t) gold from 8 metres, including 20 metres at 2.5g/t gold and 32 metres at 2.3g/t gold.

Mineralisation remains open along strike and at depth. Follow up drilling at both the existing and the new zone will be carried out to test for immediate extensions to mineralisation.

This is the first reverse circulation hole drilled in the southern contact of the Masabi Hill granitoid, 250 metres south of the known mineralised zone, indicating potential to expand mineralisation.

Results have been received for the first 5 reverse circulation holes drilled at Jubliee Reef, as part of a reverse circulation, aircore and diamond core drilling program.

To date, 18 reverse circulation holes and 23 aircore holes have been drilled.



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Fri, 08 Jun 2012 13:20:00 +1000 https://www.proactiveinvestors.com.au/companies/news/158088/liontown-resources-identifies-potential-new-gold-zone-at-jubilee-reef-29900.html
<![CDATA[News - Liontown Resources in pre open pending Tanzanian gold drilling results ]]> https://www.proactiveinvestors.com.au/companies/news/158087/liontown-resources-in-pre-open-pending-tanzanian-gold-drilling-results-29830.html Liontown Resources (ASX: LTR) has been granted a trading halt by the ASX ahead of an announcement relating the drilling results from the Jubilee Reef Gold Project in Tanzania, West Africa.

The company has been progressing second phase drilling at Jubilee Reef, in which it has the right to earn a 75% interest, and last month returned strong results from the first three drill holes of the program.

These results included a peak intercept of 62 metres at 2.4 grams per tonne (g/t) gold from 70 metres, including 21 metres at 4.7g/t gold.

This intercept lies immediately downdip of a previous intersection from drilling in 2011 of 50 metres at 1.8g/t gold.

Liontown has an emerging gold portfolio in the world class Lake Victoria Goldfield, in Tanzania.

The granite and greenstone terrain in the Lake Victoria region is similar to that found in the Eastern Goldfields of Western Australia, and the region also hosts African Barrick Gold PLC's (LON: ABG) Bulyanhulu mine.

Shares in Liontown will remain in pre open until the earlier of the release of an announcement to the market or the commencement of trading on Tuesday June 12, 2012.



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Thu, 07 Jun 2012 11:10:00 +1000 https://www.proactiveinvestors.com.au/companies/news/158087/liontown-resources-in-pre-open-pending-tanzanian-gold-drilling-results-29830.html
<![CDATA[News - Liontown Resources’ East African focus well supported by the market, shares jump 25% ]]> https://www.proactiveinvestors.com.au/companies/news/158086/liontown-resources-east-african-focus-well-supported-by-the-market-shares-jump-25-27062.html Liontown Resources (ASX: LTR) shares jumped 25.46% today on high volume, an indicator of ongoing support for the company which is focused on accelerating drilling for gold in East Africa.

More than 13.2 million Liontown shares traded hands today, with the company closing at A$0.069.

The company’s share price performance is even more impressive when viewed over the past three months, rising 119% since early January.

Liontown is advancing its interests in East Africa, where it has an emerging gold portfolio in the world class Lake Victoria Goldfield, in Tanzania.

The granite and greenstone terrain in the Lake Victoria region is similar to that found in the Eastern Goldfields of Western Australia, and the region also hosts African Barrick Gold PLC's (LON: ABG) Bulyanhulu mine.

Exploration is progressing at the Jubilee Reef joint venture, in which Liontown has the right to earn a 75% interest.

Although Liontown’s main exploration focus within the project is on the gold potential it is believed that the tenements also hold significant potential for iron ore, a commodity which has previously attracted little attention in Tanzania despite the abundance of banded iron formations.

Best intersections from a reverse circulation drilling program include:

- 31 metres at 33.9% iron from surface;
- 43 metres at 32% iron from surface; and
- 31 metres at 31% iron from surface.

A further 10,000 metres of drilling at Jubilee Reef is planned for the June quarter of 2012, expected to commence in April.

Liontown also has other projects in Tanzania and one in Australia. The company has free-carried exposure to exploration in the Mt Windsor joint venture project in North Queensland, with exploration fully funded by partner Ramelius Resources.

Mt Windsor covers a large land position of more than 3,500 square kilometres, and is located within a well endowed gold province.

$1 million capital raising

Earlier this month, Liontown announced a share placement to raise A$1.14 million to advance exploration at Jubilee.

The capital raising comprised the placement of 30 million shares at A$0.038 per share, which was a 9% premium to the company’s last closing price prior to the agreement.

Arranged by Bell Potter Securities, the placement was made pursuant to the 15% allowance under the ASX listing Rules.

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Thu, 29 Mar 2012 17:36:00 +1100 https://www.proactiveinvestors.com.au/companies/news/158086/liontown-resources-east-african-focus-well-supported-by-the-market-shares-jump-25-27062.html
<![CDATA[News - Liontown Resources granted trading halt pending capital raising announcement ]]> https://www.proactiveinvestors.com.au/companies/news/158085/liontown-resources-granted-trading-halt-pending-capital-raising-announcement--26246.html Liontown Resources (ASX: LTR) is in pre-open this morning as it prepares to release an announcement on the details of a capital raising.

While there was no indication where the money might be allocated, the company is progressing exploration at its Jubilee Reef Joint Venture in Tanzania.

Although Liontown’s main exploration focus within the project is on the gold potential it is believed that the tenements also hold significant potential for iron ore, a commodity which has previously attracted little attention in Tanzania despite the abundance of banded iron formations.

Previous best intersections include 31 metres at 33.9% iron, 43 metres at 32% iron, and 31 metres at 31% iron.

The company will remain in pre-open until the earlier of an announcement being made available to the market, or the opening of trade on Tuesday 13 March.

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Fri, 09 Mar 2012 13:23:00 +1100 https://www.proactiveinvestors.com.au/companies/news/158085/liontown-resources-granted-trading-halt-pending-capital-raising-announcement--26246.html
<![CDATA[News - Liontown Resources’ Tanzania JV shows potential to host DSO iron ]]> https://www.proactiveinvestors.com.au/companies/news/158084/liontown-resources-tanzania-jv-shows-potential-to-host-dso-iron--21878.html Liontown Resources’ (ASX: LTR) Jubilee Reef Joint Venture in Tanzania is unveiling its iron potential, returning best intersections of 31 metres from surface at 33.9% iron.

Other highlights included 43 metres at 32% iron from surface, 31 metres at 31% from surface and 15 metres at 30.9% from 28 metres.

The reverse circulation drilling program, comprising 770 metres in 12 holes on two traverses, was designed to test beneath extensive banded iron formations developed in the east of the Jubilee Reef tenements.

Although Liontown’s main exploration focus within the project is on the gold potential it is believed that the tenements also hold significant potential for iron ore, a commodity which has previously attracted little attention in Tanzania despite the abundance of banded iron formations.

A boost to the potential of the Jubilee Reef Joint Venture is the fact that it lies within the Lake Victoria Goldfield in a similar geological terrain to the Mid-West region of Western Australia where a number of large iron ore resources have been discovered.

Analysis of data from previous explorers at Jubilee Reef revealed that drilling targeting gold had intersected up to 121 metres at 32% iron in banded iron formations.

Systematic rock chip sampling across the banded iron formations horizons conducted by Liontown averaged 30% iron from 125 samples, with a maximum iron value of 60.7%.

This suggests there may be potential for direct shipping ore within the banded iron formations in the Jubilee Reef area.

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Thu, 10 Nov 2011 14:27:00 +1100 https://www.proactiveinvestors.com.au/companies/news/158084/liontown-resources-tanzania-jv-shows-potential-to-host-dso-iron--21878.html
<![CDATA[News - Liontown Resources in trading halt pending capital raising ]]> https://www.proactiveinvestors.com.au/companies/news/158083/liontown-resources-in-trading-halt-pending-capital-raising-20535.html Liontown Resources (ASX:LTR) has requested a trading halt pending a capital raising as well as an update on its Tanzanian exploration program.

In early August, Liontown commenced a 4,000 metre drill program at the Jubilee Reef Gold project joint venture in Tanzania.

That drilling was designed to follow up an intersection of 19 metres at 3.6g/t gold from just 26 metres depth returned from previous drilling. 

Liontown has the right to earn up to 75% equity in the Jubilee Reef Joint Venture Project, located in the Lake Victoria Goldfield.

Signifying the prospectivity in Tanzania for gold, African Barrick Gold, a subsidiary of Barrick Gold (NYSE: ABX), operates the Tulawaka Gold Mine, a combined underground and open pit gold mine located in the Biharamulo district. 

The other three mines owned by Barrick are: Bulyanhulu, Buzwagi and the North Mara Gold Mine. In the financial year 2009, the four operations produced a combined amount of 716,000 attributable ounces of gold.

 

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Mon, 10 Oct 2011 10:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/158083/liontown-resources-in-trading-halt-pending-capital-raising-20535.html
<![CDATA[News - Liontown Resources secures new gold focused interest in East Africa ]]> https://www.proactiveinvestors.com.au/companies/news/158082/liontown-resources-secures-new-gold-focused-interest-in-east-africa-13379.html Liontown Resources (ASX: LTR) has acquired an interest in the gold focused Jubilee Reef project in Tanzania through a joint venture with Currie Rose Resources (CVE: CUI).

The project is located in the Lake Victoria Goldfield, a geological terrain containing several world class gold deposits such as African Barricks’s 15 million ounce Bulyanhulu Mine and Anglogold Ashanti’s 10 million ounce Geita Mine.

The terms of the joint venture include:

- Stage 1. A 4 month data review and target definition period to commence immediately;
- Stage 2. Liontown can earn 51% equity in the Jubilee Reef project by drilling a minimum 5,000 metres in 2011, and drilling a further 10,000 metres by December 31 2013;
- Stage 3. Liontown can, at its election, increase its equity to 75% by completing a Definitive Feasibility Study; and
- Liontown must spend US$50,000 during Stage 1 before having right to withdraw from the agreement with Currie Rose.

Providing some interesting potential to the project, Liontown said Jubilee was in a similar geological setting to the multi-million ounce mines in the area.

Previous exploration including soil sampling and shallow drilling has defined several high order gold anomalies that are open along strike and untested at depth.

Liontown will continue to maintain an active gold exploration program in northeast Queensland, where the company is one of the biggest land holders with a tenement portfolio of 5,000 square kilometres.

 

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Tue, 25 Jan 2011 14:47:00 +1100 https://www.proactiveinvestors.com.au/companies/news/158082/liontown-resources-secures-new-gold-focused-interest-in-east-africa-13379.html