Perth based Liontown (ASX:LTR) have announced a second substantial lithium discovery today at one of their projects in Western Australia’s goldfields region. The exciting discovery has prompted the company to further develop its drilling program in the hope of discovering more lithium in the area.
The ore body was found at the Buldania project in the goldfields region and marks the small-cap explorer’s second lithium discovery this year. The good news follows the recent announcement of the Kathleen Valley lithium resource, 670km north east of Perth which boasted grades of 1.4% Li2O and 170ppm Ta205 (tantalum).
Drilling results at Buldania show intersections of 41m grading 1% lithium, with lithium mineralization at the prospect now increasing to 650m.
Shares in Liontown increased by nearly 11 cents on the news, recovering some of the losses experienced earlier this month.