Liontown Resources (ASX:LTR) has completed its due diligence on the Hang Gong lithium-tantalum property in Australia’s Northern Territory, and will complete the acquisition of the property by paying $75,000 to A & SF Maddalozzo.
As quoted in the press release:
The Hang Gong property comprises two tenements, MLN16 and EMP28651, which will form part of Liontown’s larger, 80km2 Bynoe lithium-tantalum project located ~40km south of Darwin (Figure 1 and 2).
Pegmatites up to 390m long and 60m wide have been defined on Liontown’s project area by previous explorers, including Greenbushes Ltd, targeting tin-tantalum mineralisation which is commonly associated with lithium.
The Company intends to commence drilling at Bynoe in May 2016 subject to normal approvals.