PERTH (miningweekly.com) – ASX-listed Liontown Resources has reported a maiden inferred mineral resource of some 83.7-million tonnes at its Toolebuc project, in Queensland, grading 0.30% vanadium pentoxide.
MD David Richards said on Monday that the maiden Joint Ore Reserves Committee-compliant resource, which was based on extensive historical drilling, demonstrated the significant 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.
“These include the shallow nature of the mineralisation, its proximity to major existing regional infrastructure, and the fact that it remains opens and offers substantial growth potential, plus the opportunity for further discoveries within our large tenement holding.”
Richards said that Liontown would pursue the project, in parallel with its emerging lithium projects at Kathleen Valley and Buldania, in Western Australia.
In addition to the maiden inferred resource, the Cambridge deposit also holds an exploration target of between 100-milliion to 110-million tonnes, at an average grade of between 0.28% to 0.32% vanadium pentoxide.