Liontown Resources Limited (ASX: LTR) has announced high-order PGE and gold results from initial wide-spaced, first-pass geochemical sampling at the Koojan JV Project, located ~150km north-northeast of Perth in Western Australia.
LTR said that the assays confirm exploration potential of the JV area, which is located immediately adjacent to Liontown’s 100%-owned Moora Project.
The company said that two large areas of strong geochemical anomalism were defined by wide-spaced geochemical sampling – Mallory PGE-Gold Anomaly and Bourbana Gold Anomaly.
Koojan JV Project
Liontown’s exploration footprint in the emerging Julimar mineral province comprises a largely contiguous, 1,067km2 area including the Koojan JV (600km2), and the 100%-owned Moora Project (467km2). Liontown had entered into an agreement with Lachlan Star Limited (ASX: LSA) giving it the right to earn a 51% interest in the Koojan Project.
Initial field work at Koojan
The company had recently commenced an initial wide-spaced, first-pass geochemical sampling at the Koojan JV Project. There was no systematic exploration of the area prior to Liontown commencing its work program.
The geochemical program totalled 2,124 samples, largely collected using shallow (<1m) auger sampling (1,995 samples) with soils collected in less accessible areas. Sample spacing varied from 200x50m up to 400x400m.
The company has now reported the assays for 1,565 samples with the remaining results due by mid-May 2021.
These latest results follow on from Liontown’s discovery of the high-grade Angepena gold zone (up to 43m @ 1.7g/t Au) at its 100%-owned Moora Project, located immediately to the east of the Koojan JV Project.
Geochemical sampling delineates two strong anomalies
Liontown reported that the results received delineated two significant anomalies – Mallory PGE-Gold Anomaly and Bourbana Gold Anomaly, which would require follow-up exploration.
Mallory PGE-gold anomaly
The company said that the Mallory PGE-gold anomaly is defined by 200x200m spaced samples with a number of plus 100ppb (0.1g/t) PGE values recorded coincident with strongly anomalous gold, copper, and nickel.
The coincident anomalous copper and nickel are interpreted to indicate possible sulphide-related mineralisation. LTR said that government geological mapping indicates that the underlying bedrock geology comprises poorly exposed mafic, metasedimentary, and gneissic rock units.
Bourbana gold anomaly
LTR reported that the Bourbana gold anomaly is defined by 400x100m sampling with multiple plus 50ppb Au values. The bedrock geology is obscured by shallow lateritic cover; however, the anomaly is coincident with linear magnetic highs, suggestive of iron-rich mafic units.
LTR said that further work including in-fill sampling and geological mapping will be planned once all assays are received from the geochemical sampling.
Image Source: Liontown Resources Limited