Wrap Text
TAW - Tawana Resources NL - Soil Anomaly Extended to 9 km at Sinoe Gold Project,
Liberia, West Africa
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")
Soil Anomaly Extended to 9 km at Sinoe Gold Project, Liberia, West Africa
(Note - All images and figures removed for SENS purposes and can be found on the
Company`s website)
HIGHLIGHTS
- Additional results received; Northern soil anomaly extended from 5.8 km to
9 km +30 ppb (up to 1 g/t) gold
- Two significant +30 ppb soil anomalies defined with up to 1 g/t gold in
soils on a broad 800 x 100m reconnaissance grid
- Southern anomaly 8 km long by 400 - 1400m wide, Northern anomaly 9 km long
by 400 - 1600m wide
- 25 km along strike from 3.8 Moz Dugbe 1 (AIM: HUM), 40 km along strike from
the 10 km long Bukon Jedeh soil anomaly (ASX: EQU)
- Emerging gold province in West Africa
- 200 x 50m infill soil sampling completed on Southern anomaly and underway
over Northern anomaly
- 400m of trenching completed
- Drilling likely to occur in second quarter 2012
Tawana Resources NL (ASX: TAW, the `Company`) is pleased to announce it has
extended and identified several high priority soil anomalies from its
maiden geological exploration program on the company`s Sinoe project in
Liberia, West Africa.
Tawana Resources NL, Managing director, Len Kolff said "These additional
results have extended considerably the strike length of the Northern
anomaly and confirm the ongoing potential of the Sinoe Gold Project",
further adding "infill 200 x 50m soil sampling has been completed in record
time on the Southern anomaly and trenching is underway to fast track target
generation for drilling potentially in second quarter 2012."
"The Dugbe Shear continues to shape up into a major new gold province in
the West African gold story; it is exciting to be part of this emerging
province" he said.
Meanwhile work continues at pace with a 400 x 50m soil sampling programme
completed over the Nimba BLEG anomaly and sampling teams now relocated to
commence sampling at the Lofa Project.
Sinoe Soil Anomalies
Additional results have been received from the maiden 800 x 100m soil
sampling programme over the Sinoe Gold Project area. An additional
approximate 1300 soil sample results submitted in late December 2011 were
received completing all outstanding samples on the maiden 800 x 100m
sampling grid.
The additional results have extended known gold anomalism from a strike
length of 5.8 km to a total strike length of 9 km and widths of between
400m to 1600m. Anomalism is broadly defined by +30 ppb with highest results
returned at approximately 1 g/t gold in soil on a very broad 800 x 100m
reconnaissance grid.
Results to date have defined two large coherent and continuous +30 ppb soil
anomalies with results up to 1 g/t Au in soils, providing confidence of
significant mineralisation occurring below. The southern +30 ppb soil
anomaly is approximately 8 km long and between 400 m to 1.4 km wide.
Additional smaller soil anomalies occur between and sub-parallel to the
primary anomalies. All soil anomalies strike roughly north-east, in a
similar orientation to the Dugbe 1.8 Moz and recently announced Tuzon 2.05
Moz maiden resource (AIM: HUM). The north-easterly strike direction is
evident on regional government geophysical data sets and major river
drainage orientations and is interpreted to represent north-easterly
striking secondary shears off the major Dugbe Shear.
The geology of the Sinoe North area is characterised by a package of gently
dipping biotite and garnet-biotite schists, intruded by cm to >10m scale
pegmatite dykes and sills, mafics and late granitic intrusives. The
pegmatite sills appear to be intimately associated with areas of enhanced
gold anomalism and are characterised by gently dipping sills of coarsely
crystalline quartz, feldspar, mica, accessory minerals and visible
sulphide.
Regional strike is east west dipping gently at around 25 to 30 degrees to
the north and swings to the north-east above the Dugbe Shear. The shallow
dip combined with the apparent association between enhanced gold anomalism
and greater abundance of mapped pegmatite sills enhances the potential of a
low strip ratio, high-tonnage per vertical meter system.
(Artisanal alluvial workings encountered within the project area and medium
grained gold produced by the local miners - image removed for SENS
purposes)
The streams and headwaters draining the anomalous areas are characterised
by intensive artisanal alluvial and eluvial mining activity. Fine to medium
grained gold won by the artisanals was observed as well as reports of
nugget gold within the strongest defined soil anomalies to date.
(Overview of Sinoe soil anomalies and project location relative to other
advanced projects in the area. Reported +30 ppb soil anomalies highlighted
in dashed white and other advanced projects in red polygons. Gridded soil
geochemistry by inverse distance squared and NE trending search ellipsoid;
image overlay on SRTM grey scale image - image removed for SENS purposes)
(Detail of Sinoe north area soil geochemistry and anomalies defined - image
removed for SENS purposes)
Sampling and Assay Methodology
Soil samples were collected on a nominal 800 x 100m grid. Lines were cut
and surveyed using hand held GPS. Approximately 1.5kg of B horizon soil was
collected below the surface vegetation and humus layer; generally around
the 30cm depth profile. Sample sites that occurred within close proximity
to transported stream sediments were moved to the nearest available site to
avoid sampling stream sediment and target in-situ weathered soil horizons.
Ground conditions, regolith profile, soil composition and slope direction
were recorded at each sample site and the location surveyed using hand held
GPS. Alternating field duplicates and certified standards at various
analytical levels were inserted every 25th sample for QA/QC purposes.
All samples were submitted to SGS Laboratory in Monrovia for sample
preparation and gold analysis. The entire sample was crushed to a nominal
2mm by jaw crusher then pulverised to a nominal 85% passing 75Picam and a
200g scoop sub-sample taken for analysis. Laboratory preparation equipment
was flushed using barren material between each sample run. Gold analysis
was by Aqua Regia digest and Solvent Extraction AAS finish (DL 0.002 ppm).
Results received to date have passed internal QA/QC procedures and are
within reporting error limits (+/-95% CL) of certified standards and
duplicates inserted by the Company providing confidence in the reported
results.
Next Steps and Timing
Infill 200 x 50m soil sampling has been completed on the Southern anomaly
and samples submitted to the laboratory. Sampling teams have now relocated
to the Northern anomaly and commenced infill sampling. Trenching has
commenced along highest tenor gold intervals from the existing soil grid on
the Southern anomaly. Geological wall mapping and rock chip channel
sampling of an initial 400m of trenching has been completed and samples
submitted to the laboratory. Infill soil sampling and trenching is expected
to be completed in April 2012. Pending review of results, drilling is
planned to commence during the second calendar quarter 2012.
(Trenching, mapping and sampling currently underway on the Southern
anomaly. Quartz veining with limonite and goethite staining occurring
within metre scale pegmatite vein swarms - image removed for SENS purposes)
Nimba & Lofa Projects Update
Initial 400 x 50m soil sampling has been completed on the Nimba Gold
Project and samples submitted to the laboratory in Monrovia for analysis.
Soil sampling was targeted over a coincident BLEG, air magnetics and
topographic high with peripheral artisanal gold workings. Sampling teams
have now moved to commence soil sampling over the Lofa Gold Project BLEG
anomaly. Pending initial results infill soil sampling and trenching will be
planned.
Location and Access
(Sinoe license location relative to other Tawana projects and regional road
network- image removed for SENS purposes)
Access to the Sinoe Gold Project is via sealed and laterite road from
Monrovia and takes up to 12 hours by road during the wet season. There is
an operational airstrip and hospital in Greenville and roads around the
project area are in good condition due to the active logging companies.
Access to the Nimba and Lofa projects is via sealed and laterite road from
Monrovia and takes up to 8 hours by road during the wet season.
About Liberia
Liberia is a democratic country run by Her Excellency President Ellen
Johnson-Sirleaf; Africa`s first elected female head of state in 2005 and
recently re-elected for a second term in November 2011. The country is
hugely prospective and hosts several world class iron ore deposits but yet
is underexplored for gold and non-ferrous metals. Liberia has a modern and
transparent mining code and the government is supportive of foreign
investment especially in the exploration and mining industry to help unlock
the value of its potential mineral wealth. Tawana is one of the first ASX
listed junior companies into Liberia following in the footsteps of mining
majors BHPBilliton, Arcelor-Mittal and Severstal.
Liberia is located in West Africa dominantly within the Archean aged Kenema
Man Domain and lesser Birimian sediments to the east. There are a large
number of world class mineral deposits located in the Archean and Birimian
rock types throughout West Africa including Obuasi (+40 Moz) and Tasiast
(+18 Moz). West Africa is one of the fastest growing mineral provinces in
the world and Liberia currently hosts several world class iron ore deposits
and is underexplored for gold.
For further information, please contact:
Lennard Kolff van Oosterwijk
Managing Director
Competent Persons Statements
The information in this report in so far that it relates to Liberian
Project Exploration Results, Mineral Resources or Ore Reserves is based on
information compiled by Lennard Kolff van Oosterwijk, who is a Member of
the Australian Institute of Geoscientists included in a list promulgated by
the ASX from time to time. Lennard Kolff van Oosterwijk is a full-time
employee of the company and has sufficient experience which is relevant to
the style of mineralisation and type of deposit under consideration and to
the activity which he is undertaking to qualify as a Competent Person as
defined in the 2004 Edition of the `Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves`. Lennard Kolff van
Oosterwijk consents to the inclusion in the report of the matters based on
his information in the form and context in which it appear
12 March 2012
Sponsor
PricewaterhouseCoopers Corporate Finance (Pty) Ltd
Date: 12/03/2012 10:10:01 Supplied by www.sharenet.co.za
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