Liontown Resources rediscovers historic interim proof of vanadium prospectivity at Toolebuc
Date:Apr 24, 2018
Liontown Resources (ASX: LTR) has reviewed ten-year-old drill-holes from Intermin Resources‘ (ASX: IRC) exploration at now Liontown’s 100%-owned Toolebuc vanadium prospect, finding significant vanadium mineralisation at the ground 440km west of Townsville in Queensland.
The data, pulled by the state government’s Department of Natural Resources and Mines from a historical statutory report, used 35 aircore holes to help define a mineralised zone over an area of five kilometres by 3km.
The area extends eastwards to Intermin’s (ASX: IRC) 671 million tonne Lilyvale mineral resource which contains 0.35% vanadium at a 0.29% lower cut-off grade.
Liontown managing director David Richards said today the historic Toolebuc grades of more than 0.25% vanadium pentoxide and widths of the mineralisation appeared similar to Lilyvale’s resource.
Among the highlights were four metres at 0.48% vanadium from 15m, including 2m @ 0.63% vanadium from 16m and 7m at 0.35% vanadium from 16m, including 1m @ 0.71% vanadium from 18m.
Liontown will evaluate whether DNRM’s historic Intermin data can be used to define a resource and undertake its own exploration at Toolebuc.
