Australia's Liontown declares Li resource at Buldania
Australian lithium developer Liontown Resources has confirmed a new lithium-tantalum discovery in Western Australia.
It has a declared a maiden mineral resource of 14.9mn t at its Buldania project estimated to contain 144,530t of lithium oxide or 372,889t of lithium carbonate equivalent, indicating that there is significant potential for the resource to be increased. The Buldania project is in an area not known for lithium deposits and may lead to a new exploration zone.
Liontown already owns one of Australia's largest lithium resources through its high-grade Kathleen Valley project, which is also in Western Australia and has a mineral resource of 74.9mn t grading 1.3pc lithium oxide and 140 parts per million tantalum pentoxide. An upgrade to this resource is expected soon.
Against the backdrop of a major downturn in the global lithium market, Liontown is nearing the completion of a pre-feasibility study at Kathleen Valley, which will be immediately followed by a definitive feasibility study.
Some lithium producers in Western Australia have cut back on production to counter the fall in demand from mainly Chinese converters, while others have suspended operations or delayed expansion projects.
source: Argus Media
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