Olympio Metals (ASX:OLY) reports that Liontown Resources (ASX:LTR) has completed a soil geochemistry program over the Mulwarrie Joint Venture Project in Western Australia.
Liontown collected 1,135 samples at the Mulline and Mulwarrie prospects during June to August 2023 as part of its farm-in obligations under its deal with Olympio. The samples have been submitted to ALS Laboratories for multi element analysis.
All of the sample results are expected in 4 to 5 weeks, subject to the lab turnaround time.
Olympio, which has a $14.60 million market capitalisation, says both prospects are prospective for lithium-caesium-tantalum (LCT) pegmatite mineralisation, with lithium mineralisation identified in the region.
Commenting on the program, Olympio Metals Managing Director Sean Delaney says: “Liontown have completed a comprehensive soil sampling program over the Mulline and Mulwarrie prospects, which will provide a quality dataset to evaluate the lithium potential.
“We look forward to the results for the complete program, which should be available over the coming weeks“
The program took a little longer than anticipated due to heavy rainfall and some difficult terrain to be accessed, but Liontown have done a great job sampling all the greenstone areas as agreed.
We look forward to the results for the complete program, which should be available over the coming weeks.”
The Mulwarrie Lithium Project is located in the Eastern Goldfields of Western Australia.
Olympio Metals is an ASX-listed exploration company focused on the discovery and development of critical minerals projects. As of 30 June 2023, the company had $2.732 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Olympio Metals