Highlights from the review include the definition of :

  • A 1km long, SW/NE trending target (Zone A) which remains open along strike ; and
  • Extensive high order soil anomalism ( > 100 ppb Au) that has not yet been drilled.

Liontown considers Zone A to be a highly prospective target and a 14 hole, 1600m RC drill program has been designed to test its continuity and for possible strike extensions.

The Simba prospect is located in the southwest corner of the Jubilee Reef Project and previous drilling by Liontown and Acacia Mining (see below) has recorded a number of significant intersections including:

  • JBRRC019 37 m @ 1.3 g/t gold from 9 m
  • JBRRC041 21 m @ 4.7 g/t gold from 70 m
  • JBRRC118 44m @ 3 .0 g/t gold from 24m
  • MSRCDD0029 29.7m @ 3.2g/t Au from 114m and 20.2m @ 2.6g/t Au from 226.8m

The review follows the March 2015 acquisition of the western portion of Simba which was held by Acacia Mining (formerly African Barrick Gold) from mid – 2005 until mid – 2014.

The combination of new and existing dataset s highlighted a SW/NE gold trend ( Zone A ) that includes the intersections listed above and which align with the underlying bedrock as defined by aeromagnetic data.

Zone A is also coincident with strong gold anomalism defined by mid – 1990s soil sampling with a good spatial relationship between the better drill intersections and peak (> 100ppb Au) soil values.

Furthermore, the eastern half of the soil anomaly is largely un tested by drilling including the NE extension of Zone A where >100ppb gold in soil values continue for a further 300m. Of particular note is that the highest soil value (810ppb Au) for the prospect has not been tested by drilling.

In late 2012, Acacia Mining undertook a 19 hole, ~ 3800m RC/diamond core drilling program close to Liontown’s then tenement boundary. Acacia re corded a number of significant results including the intersection listed for MSRCDD0029.

The proposed drilling program will test a total strike length of approximately 1 .2 km with particular focus on the following:

  • The 100m gap (Target 1) between intersections in MSRCDD0029 and JBRRC118 which had not been drilled previously due to the tenement boundary ;
  • The NE extension of Zone A (Target 2 ) which is coincident with strong soil anomalism;
  • The SW extension of Zone A (Target 3 ) which is obscured by shallow soil cover; and
  • A parallel trend 150 – 200m SE of Zone A (Target 4 ) defined by anomalous gold in soil values.

The mineralised trend remain s open along strike which provides further exploration upside if the planned dri lling program intersects strong gold results.