Liontown Resources' Jubilee Reef JV in Tanzania is unveiling its iron potential, returning best intersections of 31 meters from surface at 33.9% iron. Other highlights included 43 meters at 32% iron from surface, 31 meters at 31% from surface and 15 meters at 30.9% from 28 meters.

The reverse circulation drilling program, comprising 770 meters in 12 holes on two traverses, was designed to test beneath extensive banded iron formations developed in the east of the Jubilee Reef tenements.

Although Liontown's main exploration focus within the project is on the gold potential it is believed that the tenements also hold significant potential for iron ore, a commodity which has previously attracted little attention in Tanzania despite the abundance of banded iron formations.

A boost to the potential of the Jubilee Reef JV is the fact that it lies within the Lake Victoria Goldfield in a similar geological terrain to the Mid-West region of Western Australia where a number of large iron ore resources have been discovered.

Analysis of data from previous explorers at Jubilee Reef revealed that drilling targeting gold had intersected up to 121 meters at 32% iron in banded iron formations.

Systematic rock chip sampling across the banded iron formations horizons conducted by Liontown averaged 30% iron from 125 samples, with a maximum iron value of 60.7%.

This suggests there may be potential for direct shipping ore within the banded iron formations in the Jubilee Reef area.