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Tawana Resources Nl - Continued Strong Metallurgical Results At The Bald Hill Mine

Release Date: 13/02/2017 09:35:00      Code(s): TAW     
Tawana Resources NL
(Incorporated in Australia)
(Registration number ACN 085 166 721)
Share code on the JSE Limited: TAW
JSE ISIN: AU0000TAWDA9
Share code on the Australian Securities Exchange Limited: TAW
ASX ISIN: AU000000TAW7
(?the Company? or ?Tawana?)

CONTINUED STRONG METALLURGICAL RESULTS AT THE BALD HILL MINE

Up to 93.4% Recovery and 7.1% Concentrate Grade

BALD HILL MINE JOINT VENTURE (AMAL 100%, TAW Earning 50%)

Tawana Resources NL (?Tawana? or the ?Company?) is pleased to provide an update to ongoing
metallurgical test work from the Bald Hill Mine.

The confirmation of the exceptional recoveries and high concentrate grades from the Bald Hill Mine
further demonstrates the strong position of the Company to become a spodumene producer in 2017
with a moderate upfront capital cost.

Refer to the attached Joint Announcement in relation to metallurgical results at the Bald Hill Mine.

Highlights

- Variability test work from multiple locations and grade ranges has confirmed consistent and
  unusually high gravity recoveries and high concentrate grades.
- Low grade feed also produces high grade concentrates and recoveries and the apparent lithium
  grades within light fractions are low.
- Dense Media Separation (DMS) test work at 10mm crush size returned exceptionally high primary
  concentrate grade indicating relative insensitivity of Bald Hill material to crush size.
- Ongoing test work is being undertaken to complete a flow sheet design and a six tonne bulk
  sample is being collected to produce a DMS concentrate for final product evaluation by a
  number of potential offtake parties.
- Feasibility study is due for completion by the end of March 2017 with the aim of commissioning of
  the spodumene concentrator to commence in October 2017.
- The highly favourable, simple metallurgy requirements of Bald Hill mineralisation has increased
  confidence that the Joint Venture will commence commissioning of the DMS circuit later this year.

Managing Director Mark Calderwood stated: ?The Bald Hill lithium pegmatites contain very coarse,
primary low iron spodumene that is proving highly acceptable to gravity separation at varying crush sizes
and head grades. Unlike secondary spodumene derived from petalite, coarse primary crystal spodumene
ores for the most part do not require fine grinding.

Bald Hill is expected to produce high grade concentrates well suited for to the Battery Industry
converters, with limited fines and without low grade petalite or lepidolite. The bulk sampling process
underway will provide prospective off take parties with larger samples of concentrate with the same
specifications as those expected to be produced.

The highly favourable, simple metallurgy requirements of Bald Hill will allow for a staged retrofit of a
DMS circuit followed by smaller fines circuit at a later date. The advantages of a DMS circuit are the low
capital cost and installation time requirements but also, the very low operating cost of the process which
avoids grinding and limits consumables. This gives us confidence that we will commence commissioning
the DMS circuit later this year.?

Bald Hill Project (AMAL 100%, TAW Earning 50%)
The Bald Hill Project (?Project?) area is located 50km south east of Kambalda in the astern Goldfields of
Western Australia. It is located approximately 75km south east of the Mt Marion lithium project and is
adjacent to the Company?s Cowan Lithium Project. The Project, owned by AMAL, includes a permitted
tantalum (pegmatite) mine, processing facility and associated infrastructure.

Tawana has entered into a Farm-In and Joint Venture arrangement (earning 50%) with SGX-Listed
Alliance Mineral Assets Limited (AMAL) for the purpose of exploration and joint exploitation of lithium
and other minerals at the Bald Hill Mine, which includes a processing plant, existing infrastructure and
permitted mining licences.

Metallurgical Test Work
Initial metallurgical test work results previously announced (refer ASX Announcements 24 October 2016
and 17 November 2016) show excellent performance from the initial samples at 3.35mm and 6.3mm
crush sizes.

Recent metallurgical test work has been focused on laboratory scale heavy liquid separation (HLS)
variability test work on samples from a number of locations using material at varying grade ranges.

The results showed remarkably consistent and high recoveries from the different grade ranges with high
recovery at the low grade end of the spectrum.
Tables 1a to 1d | Summary of Variability Test Work
Table 1a | High Grade Samples
                                                          
 ROM-HG              SG:+2.9 (main concentrate)            SG: 2.9-2.7              SG: -2.7 (lights)
 Sample      Head     Mass    Grade     Grade    Li        Mass    Grade     Li     Mass       Grade     Li
            Grade    Yield   %Li2O   %LFe2O3    Rec       Yield   %Li2O     Rec    Yield      %Li2O     Unrec.%
            %Li2O     %                         Rec        %                Rec     %
 1-100      1.07     14.1     7.07     0.48     93.4      5.0      0.73     3.4     80.8       0.04     3.2
 6-177      1.05     15.1     5.90     0.45     84.8      5.6      1.88     10.1    94.8       0.07     5.1
 42-120     1.25     13.6     7.34     0.54     79.7      7.0      1.94     10.8    79.7       0.15     9.5
 42-134     1.64     19.2     7.41     0.40     87.1      5.1      2.22     6.9     87.1       0.13     6.0
 Average    1.25     15.5     6.95     0.44     86.1      5.7      1.72     7.8     78.9       0.10     6.1
Table 1b | Low Grade Samples
                                                   
 ROM-LG             SG:+2.9 (main concentrate)           SG: 2.9-2.7                SG: -2.7 (lights)
Sample     Head     Mass    Grade     Grade    Li        Mass    Grade     Li     Mass       Grade     Li
            Grade    Yield   %Li2O   %LFe2O3   Rec       Yield   %Li2O     Rec    Yield      %Li2O   Unrec.%
            %Li2O     %                        %           %                %      %                                                  
          
 2-33        0.64   8.3     6.20      0.31     80.7       8.3     1.07     13.8     83.4    0.04      5.5
 42-148      0.87   9.9     6.71      0.45     76.6       6.8     1.72     13.5     83.2    0.10      9.9
 43-117      0.63   7.6     6.66      1.25     79.3       7.8     1.23      7.8     84.6    0.04     12.9
 43-131      0.84   12.6    5.93      1.00     88.7      15.6     0.38      7.0     71.8    0.05      4.3
 43-166      0.76   9.1     6.42      0.74     77.3       6.1     1.30     10.5     84.8    0.11     12.2
 Average     0.75   9.5     6.36      0.77     80.6       8.9     0.99     10.5     81.6    0.07      8.9
             
 

Table 1c| Very Low Grade Samples
                                                    
 VLG                SG:+2.9 (main concentrate)          SG: 2.9-2.7                  SG: -2.7 (lights)

Sample     Head     Mass    Grade     Grade    Li       Mass    Grade    Li    Mass       Grade     Li
            Grade    Yield   %Li2O   %LFe2O3   Rec      Yield   %Li2O    Rec   Yield      %Li2O   Unrec.%
            %Li2O     %                        %         %                %      %                                                  
                                  
 1-146       0.31   3.5     5.45     1.03      61.7     13.3    0.58    24.9   83.2       0.05     13.4

 39-116      0.30   2.7     5.60     0.65      51.2     4.9     1.60    26.5   92.3       0.07     22.3

 43-117      0.36   7.6     5.63     0.92      79.3     7.8     0.92    15.1   84.6       0.14     5.6
 Averag
             0.32   4.6     5.58     0.72      65.0     8.7     0.88    21.8   86.7       0.09     13.2
 e

Table 1d| Sub-Grade Samples
                                                   
 Sub-grade          SG:+2.9 (main concentrate)      SG: 2.9-2.7                       SG: -2.7 (lights)
 
Sample     Head     Mass    Grade    Grade    Li       Mass    Grade    Li    Mass       Grade     Li
            Grade   Yield   %Li2O   %LFe2O3   Rec      Yield   %Li2O    Rec   Yield      %Li2O   Unrec.%
            %Li2O     %                        %         %                %      %                                                  
                           
 3-68        0.12   1.4     5.89     0.45     67.2     3.5     0.34     9.6    95.1      0.03      23.2

 4-347       0.13   0.1     2.15      3.64     1.6     0.1     0.34     25.0   95.1      0.11      73.4

Notes
   1) Samples P100 3.35mm +1mm
   2) SG = specific gravity
       Rec. = percentage of total contained lithium contained within heavier concentrate
      3)
       Unrec. = percentage of total contained lithium not recovered into heavier concentrates
      4)
       ROM-HG= high grade, ROM-LG = low grade, VLG very low grade or marginal
      5)
       +2.9 SG ?Main concentrate? are spodumene rich, 2-7-2.9 SG ?middlings? represent spodumene
      6)
       attached to gangue minerals and lithium within?-2.7 SG (?lights?) comprises spodumene attached
       to gangue minerals and potentially other lighter lithium bearing minerals such as petalite.
     7) Concentrate 4-34, SG +2.9 contained 31.8% Ta205 and 3.03% SnO2
     8)Dense Media Separation (DMS) test work undertaken at P100 10mm +1mm returned significant primary
       concentrate grades of up to 7.1% Li2O and high overall recovery of 90.4%. To reduce the amount of
       spodumene reporting to the middlings the likely initial crush size will be 6.3mm.

Tables 2 | Summary of DMS Test Work Results

           Primary Concentrate            Middlings                Total         Fines
P100       %Li2O        Recovery%    %Li2O         Recovery %      Recovery       %
 mm                                                                  %
 
 10        6.87           33.4       3.81           57.0            90.4         15.1
 6.3       6.00           82.0       2.43           11.6            93.7         28.0
 3.35      6.89           80.6       2.63           13.7            94.3         50.3

Notes
   1) P100 mm = crush size in millimetres.
   2) Recovery = percentage of total contained +1mm lithium contained within concentrate
   3) Fines = percentage of total material below 1mm at the given crush size


About Tawana (ASX & JSE: TAW)
Tawana Resources NL, is focussed on becoming a spodumene producer in 2017 with its high-
quality lithium projects in Western Australia and Namibia.

Tawana?s principal projects are the Bald Hill Lithium and Tantalum Mine (earning a 50%
interest) and the surrounding and adjacent Cowan Lithium Project. The projects have
numerous high quality spodumene-rich pegmatites, some of which have been historically mined
and processed for tantalum at the existing Bald Hill processing facility.
The Company also owns rights to the giant Uis pegmatite tailings stockpile in Namibia,
estimated to be 20 million tonnes. Drilling has been completed and metallurgical test work is
planned to confirm acceptable recoverable grades, there is potential for a low capex/opex
operation.

The Company also owns the Mofe Creek Iron Ore Project in coastal Liberia. The deposits are
characterised by exceptionally coarse grained, high-grade free-dig, itabirite that have the
potential to deliver a premium, low cost product. The Company is completing a Mineral
Development Agreement (?MDA?) with the Government of Liberia and is considering initially
collaborating with owners of the under-utilized port of Monrovia or others with a desire to
develop a low capital cost DSO operation.

Competent Persons Statement
The information in this news release that relates to Exploration Results is based on and fairly represents information
and supporting documentation compiled by Mr Mark Calderwood, an employee of the Company. Mr Calderwood is a
member of The Australasian Institute of Mining and Metallurgy. Mr Calderwood has sufficient experience relevant to
the style of mineralisation under consideration and to the activity which they are undertaking to qualify as a
Competent Person as defined in the 2012 edition of the ?Australasian Code for Reporting of Exploration Results,
Mineral Resources and Ore Reserves?. Mr Calderwood consents to the inclusion in this report of the matters based
on their information in the form and context in which it appears.


Metallurgy
The information in this release that relates to metallurgy and metallurgical test work has been reviewed by Mr Noel
O?Brien, FAusIMM, MBA, B. Met Eng. Mr O?Brien is not an employee of the company, but is employed as a contract
consultant. Mr O?Brien is a Fellow of the Australasian Institute of Mining and Metallurgy, and he has sufficient
experience with the style of processing response and type of deposit under consideration, and to the activities
undertaken, to qualify as a competent person as defined in the 2012 edition of the ?Australian Code for the
Reporting of Exploration Results, Mineral Resources and Ore Reserves? (The JORC Code). Mr O?Brien consents to the
inclusion in this report of the contained technical information in the form and context as it appears.

Forward Looking Statement
This report may contain certain forward looking statements and projections regarding estimated, resources and
reserves; planned production and operating costs profiles; planned capital requirements; and planned strategies and
corporate objectives. Such forward looking statements/projections are estimates for discussion purposes only and
should not be relied upon. They are not guarantees of future performance and involve known and unknown risks,
uncertainties and other factors many of which are beyond the control of Tawana Resources NL. The forward looking
statements/projections are inherently uncertain and may therefore differ materially from results ultimately
achieved.

Tawana Resources NL does not make any representations and provides no warranties concerning the accuracy of the
projections, and disclaims any obligation to update or revise any forward looking statements/projects based on new
information, future events or otherwise except to the extent required by applicable laws. While the information
contained in this report has been prepared in good faith, neither TAW or any of its directors, officers, agents,
employees or advisors give any representation or warranty, express or implied, as to the fairness, accuracy,
completeness or correctness of the information, opinions and conclusions contained in this presentation.
Accordingly, to the maximum extent permitted by law, none of TAW, its directors, employees or agents, advisers,
nor any other person accepts any liability whether direct or indirect, express or limited, contractual, tortuous,
statutory or otherwise, in respect of, the accuracy or completeness of the information or for any of the opinions
contained in this announcement or for any errors, omissions or misstatements or for any loss, howsoever arising,
from the use of this announcement.

13 February 2017

Sponsor
PricewaterhouseCoopers Corporate Finance (Pty) Limited

Date: 13/02/2017 09:35:00 Supplied by www.sharenet.co.za                     
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