Liontown Resources Share Price Rises 15.48% after Record Intercept

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Today, Liontown Resources Ltd [ASX:LTR] confirmed drilling at the Kathleen Valley Lithium-Tantalum Project in Western Australia.

At time of writing, Liontown Resources’ share price is trading at $0.10, up 21.43%.

Related: Don’t buy a single lithium stock until you’ve read this report. Read more about it here for free.

Liontown’s Kathleen Valley project

The drilling saw the best intercept recorded at Kathleen Valley, with an intercept of 90m grading 1.3% Li₂o from a 209m down-hole.

This latest data is encouraging for Liontown, and its increased Exploration Target, as stated in its ASX announcement on 29 April 2019.

Liontown managing director, David Richards commented on the results, saying:

‘With the resource drilling program now in its final phases, we have been able to generate some exceptional results from within what has clearly emerged as feeder zone for the Kathleen Valley lithium deposit.

‘The combination of this, high-grade core to the deposit below the current conceptual open pit, together with the flat-lying geometry of the shallower portions of the pegmatite swarm, could potentially drive a significantly larger and deeper open pit that may present a very attractive mining proposition.’

Liontown resources’ share price outlook 2019

It’s not unusual for a lithium stock such has Liontown to see such a big jump in share price after such an exciting announcement.

This isn’t necessarily an indication that Liontown resources’ share price will keep going up, but it is encouraging news for shareholders.

Investors should be aware that it is unclear whether further exploration will result in the estimation of an increased mineral.

Stay tuned.

Regards,

Ryan Clarkson-Ledward,
For Money Morning

PS: Free investor report reveals the highest potential growth sectors for 2019 and beyond. Download now to find out more (for free).

Tags: ASX:LTR

Ryan Clarkson-Ledward

Ryan Clarkson-Ledward is an Editor at Money Morning.

Ryan holds degrees in both communication and international business. He helps bring Money Morning readers the latest market updates, both locally and abroad. Ryan tackles all the issues investors need to know about that the mainstream media neglects.

Ryan is also the Editor of Australian Small-Cap Investigator, a stock tipping newsletter that hunts down promising small-cap stocks by dissecting the latest events affecting the world.

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