Liontown Resources finds new gold zone

THE DRILL SERGEANT: Liontown Resources has unearthed a new zone of mineralisation at the Masabi Hill prospect via an ongoing program of drilling being conducted on the company’s Jubilee Reef gold project in Northern Tanzania.

The results come from reverse circulation percussion (RC) drilling being carried out 250m south of the previously discovered mineralised zone at Masabi Hill.

 

Masabi Hill prospect – Drill hole plan and better drill results. Source: Company announcement

 

The company said the latest results had provided it further evidence of the project’s potential.

The latest assays returned:

–    20 metres at 2.5 grams per tonne gold from 12 metres and 32 metres grading 2.3 grams per tonne gold from 48 metres within an overall intercept of 80 metres grading 1.7 grams per tonne gold from 8 metres down-hole.

“This new intersection is from the first RC hole drilled into the southern contact of the Masabi Hill granitoid where anomalous gold was defined by shallow RAB/Aircore drilling in 2011,” Liontown Resources explained in its ASX announcement.

“The contact zone is completely covered by transported sediments and has only been partially defined by drilling.

“The newly discovered mineralised contact zone between granitoid and dolerite remains open along strike and at depth.”

The newly-identified zone is located approximately 250m south of a previously discovered central zone of gold mineralisation where drilling by Liontown recently intersected:

–    62m at 2.4g/t gold from 70m including 21m at 4.7g/t gold from 70m.

Liontown commenced a combined RC/aircore/diamond core drilling program at Jubilee Reef at the beginning of May 2012.