Liontown Resources Limited (ASX: LTR) is pleased to report that results from the Company’s maiden drilling program at its Jubilee Reef JV in Tanzania, East Africa indicate potential for the Project to host large-scale gold deposits with significant widths and grades of mineralisation intersected.  
 
A program comprising approximately 4,000m RC and RAB drilling was undertaken at three gold prospects and was designed to test beneath and along strike of previously reported shallow gold intersections (see ASX announcements dated 25th January and 27th January 2011).
 
Better intersections are listed above and results for all holes for which assays have been received are appended. Assay results are still pending for one RC hole drilled into the Shangaza/Panapendesa gold target and for 12 RC holes drilled into iron targets located in the eastern part of the Project area. Holes JBRRC018 and JBRRC019 were drilled at the Masabi Hill prospect and confirm the down dip extension of extensive gold mineralisation intersected in previous shallow RAB holes. The mineralisation remains open along strike to the east and at depth.
 
Holes JBRRC024 and JBRRC025 were drilled at the Shangaza/Panapendesa prospect. JBRRC024 was drilled approximately 50m down dip of a previous intersection of 19m at 3.6g/t gold reported at the bottom of a RAB hole JLRB126 while JBRRC025 was drilled approximately 100m along strike to the north-east.  The mineralisation remains open along strike to the east and at depth.
 
The RAB drilling was undertaken at the Masabi Hill prospect to test for extensions of a large, 150x500m, east-west trending gold geochemical anomaly which had been partially defined by previous soil sampling and RAB drilling.  The gold mineralisation at Masabi Hill is hosted by a strongly altered granitic intrusion and the recent RAB drilling program was also designed to intersect the previously untested contact with the adjacent greenstone lithologies.
 
Results from the RAB drilling confirm that strong gold anomalism (>0.1g/t) extend eastwards beneath shallow transported cover for at least another 350m from the previously defined mineralised zone.  The latest results are of similar magnitude as that recorded by previous RAB drilling up dip of the intersections in JBRRC018 and JBRRC019 referred to above.
 
Significantly the results in JLRB483, JLRB0498 and JLRB499 confirm the potential of granite contact zone to host economic gold mineralisation. The granite contact, which geophysics indicates is at least 3km long on the JV area, is completely covered by shallow transported soil and has only been intersected by the single RAB traverse drilled by Liontown.
 
Commenting on the results, Liontown’s Managing Director, Mr David Richards, said “These are very exciting results for a maiden drilling program and highlight the potential for a major gold system, particularly at Masabi Hill. More RAB drilling is needed to define the extent of the gold anomalism at Masabi Hill as well as diamond core drilling to get a better handle on what is controlling mineralisation. We will then need an RC rig to work out the real size of the system. This work will start as soon as all assay results are received (including 1m splits of composite samples) and suitable drill rigs can be secured.”

Liontown entered into the Jubilee Reef JV Project with Canadian company Currie Rose Resources Ltd (TSX.V: CUI) at the beginning of 2011. Liontown has the right to earn up to 75% equity in the Project which is located in the Lake Victoria Goldfield, an Archaean greenstone-granite terrain similar to the Eastern Goldfields of W.A.  
 
Several multi-million ounce gold deposits are currently being mined in the region including Bulyanhulu and Geita.