31 October 2016
Kyrgyz Republic Exploration – Aucu Gold Project
During the September quarter the Company continued drilling at the Aucu Gold deposit in Central Asia, targeting the high grade extension of the Upper Gold Zone. The drilling has identified a new mineralised zone containing visible gold in both the drill holes and in surface outcrop. At the date of this report 16 holes for 3650 metres have been completed of the 5,000 metre 2016 drill program.
Western Australian Exploration – Gold Projects
Extensive soil geochemical sampling programs have been completed at multiple prospects within the Merolia project. Substantial gold anomalies have been identified at the Ironstone, Comet Well and Burtville East prospects. The Company has applied for statutory drilling approvals and intend to test these targets either late in 2016 or early in 2017.
Western Australian Exploration – Lithium Projects
Liontown Resources Limited has completed an initial phase of exploration at the Lake Percy tenement which included collection of soil samples and reanalysis of historical samples. Liontown has identified several surface lithium anomalies associated with tin, tantalum and other elements typically hosted by rare metal pegmatites. Liontown can earn up to a 70% interest in the Lake Percy tenement for expenditure of $1.75 million.
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