Liontown Resources Limited (ASX: LTR) is planning to significantly expand exploration activities at its Moora Project, north of Perth, after receiving encouraging results from a recently completed combined gravity survey and auger sampling programme.
The combined gravity/auger programme was undertaken over two areas to determine whether these techniques could effectively assess the larger Project area for intrusive mafic/ultramafic bodies that may be prospective for precious and base metal mineralisation.
The gravity survey defined a number of dense, discrete bodies spatially associated with magnetic highs, with the results indicating the presence of mafic/ultramafic intrusions significantly larger than indicated by the surface geology, which is typically obscured by strong weathering or transported cover.
Managing Director, David Richards, said auger sampling has defined a number of strong multi-element (Au+Pd+Pt+Ni+Cu) anomalies in the western area which overlie, or are adjacent to, gravity and/or magnetic highs.
The geochemical anomalies are defined by multiple sample points with values peaking at 613ppb gold, 50ppb palladium, 30ppb platinum, 492ppm nickel and 280ppm copper. The high Platinum Group Element (PGE) and copper values are interpreted to be indicative of possible sulphide-related mineralisation at depth.
Highly elevated nickel values (>1,000ppm) were also recorded in the eastern sampling area coincident with mapped mafic/ultramafic outcrops.
Given the success of the initial field programme, Liontown will extend the 400m x 400m gravity surveying and auger sampling to the remainder of the Project area.
The company will also undertake in-fill auger sampling across the recently defined geochemical anomalies, with the results to be used to design Moving Loop Electromagnetic (MLEM) Surveys that can detect conductive sulphide-rich zones beneath the weathered regolith.
Mr Richards said the timing of the next phase of work will be partially dependent on local cropping activities, which have recently begun on the underlying farms, and the negotiation of access agreements.
The Moora Project comprises three contiguous, 100%-owned granted Exploration Licences (ELs) covering a total area of 467km2 which the company applied for in 2018 and 2019 as part of its generative exploration strategy.
Historical surface sampling and shallow drilling within Liontown’s central tenement defined strong Ni+Cu+PGE+Au anomalism; however, no deeper drill testing of the fresh bedrock was undertaken. There has been no prior effective exploration across Liontown’s western tenement.
