To view the PDF file, sign up for a MySharenet subscription.

Tawana - New Kimberlite Discovery-Daniel Kimberlite Project

Release Date: 21/12/2005 08:09
Code(s): TAW
Wrap Text

Tawana - New Kimberlite Discovery-Daniel Kimberlite Project Tawana Resources NL (Incorporated in Australia) (Registration number ACN 085 166 721) Share code on the JSE Limited: TAW ISIN: AU000000TAW7 Share code on the Australian Stock Exchange Limited: TAW ISIN: AU000000TAW7 ("Tawana" or "the Company") 21 December 2005 New Kimberlite Discovery-Daniel Kimberlite Project The Directors of Tawana are pleased to advise that a new kimberlite has been discovered in the Daniel Kimberlite Project (DKP) in South Africa. The kimberlite was located by soil sampling and a magnetic survey over Falcon target A95. Kimberlite was confirmed by percussion drilling and laboratory analysis of the drill cuttings. The kimberlite is in the form of a dyke (fissure) with several blows or small pipes and can be traced by magnetic data to the Eastern Gravel diamondiferous alluvial deposit. It was previously reported that the high quality (US$274 per carat) diamonds found in the Eastern Gravels are different to those found draining the Finsch Mine and are thought by Tawana geologists to be derived from a different source. The A95 kimberlite may be this source. As it is too early to confirm that this is the source, the kimberlite will be sampled by drilling and bulk sampling early in 2006 to ascertain whether it is diamondiferous and, if diamonds are recovered, to compare these diamonds with those recovered from the Eastern Gravels. Following the discovery of kimberlites A1 and A2 in November, the BHP Billiton Falcon data was reviewed and this led to a reassessment of the A95 target. Similar targets have now been selected for drilling in 2006. The DKP is a joint venture between Tawana, BHP Billiton and Seven Falls. The information in this report is based on information compiled by Wolf Marx BSc, BA, FAusIMM, CPGeo, Managing Director of Tawana Resources NL. He has sufficient experience relevant to the style of mineralization and types of deposits under consideration, and to the activity undertaken, to qualify as a competent person as defined in the 2004 addition of the "Australasian Code for Reporting of Mineral Resources and Ore Reserves" For enquires contact: Wolf Marx Andrew Smith Tel: +61 3 99097551 Tel: 08 82768794 Mob: 0428 398446 Mob: 0417 265205 wolf.marx@tawana.com.au ahs.taw@bigpond.net.au PricewaterhouseCoopers Corporate Finance Tel: +27 (0)11 7974440 or 797 4606 All press releases and announcements may be inspected on the Company"s web site, namely: www.tawana.com.au Date: 21/12/2005 08:09:08 AM Supplied by www.sharenet.co.za Produced by the JSE SENS Department

Share This Story