Wrap Text
Zaway Discovery: New High-Grade Itabirite Intersections With Significant Exploration Upside
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”)
Zaway Discovery: New High-Grade Itabirite
Intersections with Significant Exploration Upside
HIGHLIGHTS
PLEASE NOTE: ALL GRAPHICS HAVE BEEN REMOVED FOR SENS
PURPOSES. PLEASE REFER TO TAWANA WEBSITE FOR THE COMPLETE
ANNOUNCEMENT
- Newly discovered multiple high-grade, coarse grained itabirite intersections
at the Zaway prospect; part of the Mofe Creek Project, Liberia
- Excellent exploration upside with over 5km strike potential defined from
rock chip assays up to 56.7% Fe within <1km of the Zaway deposit
- Strong continuity down and between drill holes with exceptionally low
contaminant levels recorded over mineralised widths
- Significant intersections over 2km strike, up to 200m wide and open to the
east:
o ZRC001: 6-32m @ 39.5% Fe
o ZRC006: 0-40m @ 34.6% Fe incl. 12-34m @ 40.6% Fe
o ZRC004: 0-34m @ 37.1% Fe
o ZRC018: 0-46m @ 36.2% Fe
o ZRC011: 0-100m end of hole (EOH) @ 29.4% Fe
o ZRC022: 0-4m @ 41.8% Fe, 16-26m @ 37.2% Fe & 36-64m @ 30.6% Fe
- High-grade, coarse grained itabirite intersected from surface in majority of
drill holes; visually identical to Gofolo Main mineralisation – potential
excellent upgradability to ‘Premium’ product
- Scoping Study underway; metallurgical testwork samples defined and en-
route to ALS Perth, resource, environmental and social consultants engaged
– Maiden resource on track for early second quarter release
Tawana Resources NL (ASX: TAW) (“Tawana” or “the Company”) is very pleased
to announce the discovery of new, multiple high-grade, coarse itabirite
intersections over the Zaway prospect at its flagship Mofe Creek Iron Ore Project in
Liberia.
Managing Director Len Kolff said “Surface mapping observations have been
confirmed with multiple high-grade, coarse grained itabirite intersections reported
in the maiden drilling programme.”
“Positive drilling observations in the first holes resulted in the planned programme
being extended and in-filled to 200m x 60m drill spacing in support of a maiden
inferred and indicated resource model” he said.
“Excellent geological continuity was observed within intersections and between
drill holes and high-grade itabirite was drilled over a 2km strike length with
surface widths of up to 200m defined and open to the east.”
“Additional exploration upside within the near vicinity of the Zaway prospect has
been confirmed in road cuttings and rock-chip sampling over a 5km strike,
providing excellent growth prospects and resource extensions for the project.”
“Visual observation of diamond drill core, excellent grade continuity and low level
contaminants within drill intersections at Zaway provides a high-degree of
confidence that the mineralisation will beneficiate to a premium product and as
well as the recently reported metallurgical results from Gofolo Main and Koehnko.”
(Refer ASX release of 14th January 2014).
Drilling Results
The Company is pleased to announce drilling results from its recently completed
reverse circulation (RC) resource drilling programme completed at the Zaway
prospect. A total of 32 RC holes for 2,572m was completed and all assays received.
Significant drilling intersections are reported in the table below with a complete
listing of intersections included in the appendices.
Prospect Hole_ID From To Interval Fe SiO2 Al2O3 P S TiO2 LOI 1000 Comment
Zaway ZRC001 6 32 26 39.50 39.10 2.21 0.027 0.019 0.13 1.80
Zaway ZRC004 0 34 34 37.09 37.86 4.87 0.023 0.024 0.22 3.19
Zaway ZRC006 0 40 40 34.58 35.95 8.30 0.024 0.034 0.26 5.30
Zaway incl.ZRC006 12 34 22 40.59 33.10 4.97 0.030 0.010 0.12 3.65
eoh; potentially
Zaway ZRC011 0 100 100 29.38 49.76 4.61 0.021 0.039 0.23 0.82 drilling down-dip
Zaway ZRC018 0 46 46 36.22 38.46 4.88 0.027 0.022 0.31 3.03
Zaway ZRC022 0 4 4 41.76 17.68 11.94 0.046 0.022 0.47 7.97
Zaway ZRC022 16 26 10 37.22 41.02 2.00 0.030 0.002 0.18 1.28
Zaway ZRC022 36 64 28 30.55 47.95 2.85 0.041 0.063 0.17 BD
Table 1 | Significant intersections from maiden RC resource drilling at the Zaway prospect
Drilling results have defined a 2km strike length high-grade, coarse grained
itabirite deposit along the northern and southern flank of the Zaway Hill.
Mineralisation is open to the east along the northern flank and has been observed
in road cuttings to the east of hole ZRC008.
Combined mineralized surface widths of up to 200m were recorded on the western margin of the
deposit where both the northern and southern limbs almost coalesce.
Geological interpretation of results is ongoing; however, drilling intersections
suggest a folded sequence with the northern limb dipping at 60-70 degrees to the
south and the southern limb dipping more shallowly at 50-55 degrees towards the
north.
Contaminant levels within the reported drill intersections are very low in Al2O3 and
TiO2 levels (other than elevated Al2O3 associated with surface weathering) and
similar to the high-grade itabirite intersections reported at Gofolo Main.
An interval of 6m @ 50% Fe with low contaminants was intersected between 14-
20m in hole ZRC006. The represents the highest grade intersection to date and
occurred on the northern flank within close proximity to the surface DSO
magnetite boulder float. Although no consistent DSO intervals were intersected in
this phase of drilling, itabirite intersections were very consistent with low Al2O3, P,
S and TiO2 contaminants, excellent continuity down and between drill holes and
exceptionally coarse grained. Additional high-grade rock chips (up to 56.7% Fe) to
the north of the Zaway deposit also provide additional scope for DSO discovery.
This suggests that Zaway mineralisation will be very amenable to beneficiation and
potentially upgrade to a +63% to 68% Fe premium product as the recently
announced metallurgical testwork results announced for Gofolo Main and Koehnko
(Refer ASX release of 14th January 2014).
Exploration Potential
Significant exploration potential exists within hills to the north and east of the
main Zaway prospect. Mapping and rock chip sampling has defined over 5km of
additional prospective strike with coarse itabirite in outcrop returning assays
between 33% Fe and up to 56.7% Fe. An access track has exposed friable itabirite
in road cuttings along both the north and ‘far’ north anomaly areas with significant
widths over 120m exposed over a 4km strike. This represents an immediate walk-
up and drill target that has the potential to deliver significant resource upgrades
to the Zaway project area.
The northern limb of the Zaway prospect remains open to the east in current
drilling with an additional 1km of prospective strike untested (included within the
overall 5km figure).
All the Gofolo Main RC samples were submitted to SGS Laboratories in Liberia and
assayed on 2m intervals. A field duplicate, certified standard and blank was
inserted every 50th sample. All samples were dried and crushed to 75% passing
2mm, 1.5kg split by a riffle splitter and pulverised to 85% passing 75µm through a
ring and puck pulveriser with a 200g split sent for assay of major and minor
elements by X-Ray Florescent (XRF) fusion and Loss on Ignition (LOI) by Thermo
Gravimetric Analysis (TGA). The batch passed internal and external Quality
Assurance (QA) and Quality Control (QC) procedures.
About Tawana (ASX & JSE: TAW)
Tawana Resources NL (“Tawana” or “the Company”) is an iron ore focused ASX and
JSE-listed Company with its principal project in Liberia, West Africa. Tawana’s
100% owned Mofe Creek Project (“the Project”) is a new discovery in the heart of
Liberia’s historic iron ore district, located 20km from the coast and 80km from the
country’s capital city and major port, Monrovia.
Tawana is committed to becoming a mid-tier iron ore producer through the
development of the Mofe Creek Project, which covers 285km2 of highly prospective
tenements in Grand Cape Mount County. The Project hosts high-grade friable
itabirite mineralisation which can be easily upgraded to a superior quality iron ore
product of +60% Fe, for which there is consistent global demand.
The Company is currently completing its maiden resource drilling program and
recently commenced its Scoping Study on the Mofe Creek Project. The Scoping
Study will consider both an early start-up, low capital cost project with a
production rate of 1-2 million tonnes per annum (Mtpa), as well as a longer-term
project capable of producing 5-10 Mtpa of iron ore product. Additionally, Tawana
has a joint venture agreement with Konblo Bumi Inc for the adjoining tenement
covering 624km2, for which Tawana has 100% of the iron ore mineral rights.
About Liberia
Liberia is a democratic West African country with a modern and transparent mining
code and a government proactively engaged with the mining industry to help
unlock the value of its potential mineral wealth. Her Excellency President Ellen
Johnson Sirleaf was Africa’s first elected female head of state in 2005 and was re-
elected in November 2011 for a second term. The country is hugely prospective for
minerals exploration and production, hosting several world-class iron ore deposits.
Liberia has historically been the largest exporter of iron ore in Africa and was the
5th largest iron ore producer globally during the 1960’s to 1980’s.
For further information please contact:
Lennard Kolff van Oosterwijk
Managing Director
Tel: +61 7 3510 2115
Mob: +61 424 942 589
Detailed information on all aspects of Tawana’s projects can be found on the
Company’s website www.tawana.com.au.
Competent Persons Statement
The information in this report that relates to 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 2012 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 appears.
Forward Looking Statement
Statements regarding plans with respect to the Company’s mineral properties, including statements, assumptions and
targets relating to the Preliminary Assessment are forward looking statements. There can be no assurance that the
Company’s plans for development of its mineral properties will proceed as currently expected, nor in accordance with the
Preliminary Assessment. There can also be no assurance that the Company will be able to confirm the presence of a mineral
deposit, that any mineralisation will prove to be economic or that a mine will successfully be developed on any of the
Company’s mineral properties, either in accordance with the Preliminary Assessment or otherwise.
03 February 2014
Pricewaterhousecoopers Corporate Finance (Pty) Ltd
APPENDIX 1: All intersections from Zaway RC resource drilling to date
Prospect Hole_ID From To Interval Fe SiO2 Al2O3 P S TiO2 LOI 1000 Comment
Zaway ZRC001 6 32 26 39.50 39.10 2.21 0.027 0.019 0.13 1.80
Zaway ZRC002 60 80 20 36.05 42.64 1.94 0.052 0.170 0.18 BD
Zaway ZRC004 0 34 34 37.09 37.86 4.87 0.023 0.024 0.22 3.19
Zaway ZRC005 42 48 6 33.40 44.62 3.87 0.034 0.036 0.13 2.10
Zaway ZRC005 56 80 24 29.47 53.37 2.75 0.028 0.039 0.14 BD
Zaway ZRC006 0 40 40 34.58 35.95 8.30 0.024 0.034 0.26 5.30
Zaway Incl.ZRC006 12 34 22 40.59 33.10 4.97 0.030 0.010 0.12 3.65
Zaway ZRC008 0 28 28 26.21 47.61 9.28 0.034 0.031 0.33 5.16
Zaway ZRC009 74 82 8 28.55 55.61 2.89 0.036 0.050 0.10 BD
Zaway ZRC010 0 4 4 30.73 45.42 6.46 0.043 0.010 0.27 4.47
Zaway ZRC010 22 66 44 29.77 45.87 6.35 0.036 0.062 0.36 2.16
eoh; potentially
Zaway ZRC011 0 100 100 29.38 49.76 4.61 0.021 0.039 0.23 0.82 drilling down-dip
Zaway ZRC012 0 8 8 23.29 32.39 19.87 0.019 0.042 0.73 13.60
Zaway ZRC013 0 30 30 25.03 36.69 15.04 0.058 0.063 0.39 11.79
Zaway ZRC014 0 8 8 27.54 43.70 8.62 0.024 0.025 0.38 7.56
Zaway ZRC014 36 46 10 27.56 47.95 5.84 0.082 0.013 0.21 5.23
Zaway ZRC015 0 10 10 36.99 28.28 9.41 0.052 0.055 0.42 9.48
Zaway ZRC015 16 20 4 36.70 21.76 11.87 0.041 0.121 0.33 13.77
Zaway ZRC015 66 78 12 30.11 47.29 2.53 0.032 0.065 0.08 3.61
Zaway ZRC016 0 6 6 37.40 17.96 14.06 0.053 0.071 0.58 11.71
Zaway ZRC016 32 52 20 21.39 40.11 16.41 0.032 0.032 0.58 10.02
Zaway ZRC017 0 30 30 30.55 35.60 9.97 0.048 0.052 0.62 8.72
Zaway ZRC018 0 46 46 36.22 38.46 4.88 0.027 0.022 0.31 3.03
Zaway ZRC018 56 76 20 28.17 50.10 4.86 0.042 0.044 0.24 BD
Zaway ZRC020 40 50 10 27.42 49.29 6.69 0.038 0.103 0.28 3.81
Zaway ZRC021 0 16 16 43.42 24.79 6.40 0.034 0.029 0.41 4.77
Zaway ZRC022 0 4 4 41.76 17.68 11.94 0.046 0.022 0.47 7.97
Zaway ZRC022 16 26 10 37.22 41.02 2.00 0.030 0.002 0.18 1.28
Zaway ZRC022 36 64 28 30.55 47.95 2.85 0.041 0.063 0.17 BD
Zaway ZRC023 0 28 28 34.01 43.03 4.10 0.032 0.013 0.17 2.41
Zaway ZRC023 36 40 4 35.72 42.88 2.78 0.034 0.039 0.11 0.87
Zaway ZRC024 68 96 28 33.27 48.46 2.71 0.039 0.053 0.11 BD
Zaway ZRC025 54 62 8 34.04 47.92 2.90 0.046 0.072 0.07 BD
Zaway ZRC027 0 6 6 34.39 20.10 15.24 0.023 0.037 0.64 14.45
Zaway ZRC027 28 40 12 33.69 35.05 6.87 0.058 0.054 0.18 8.87
Zaway ZRC028 0 20 20 29.86 38.92 9.79 0.032 0.043 0.44 8.03
Zaway ZRC028 80 84 4 23.17 49.96 4.95 0.046 0.403 0.22 7.22 eoh
Zaway ZRC029 0 8 8 42.53 17.53 9.38 0.074 0.041 0.42 11.71
Zaway ZRC029 58 82 24 26.70 54.36 3.41 0.038 0.172 0.19 1.88
Zaway ZRC030B 0 6 6 27.47 36.83 13.99 0.036 0.077 0.61 8.94
Zaway ZRC030B 134 158 24 27.54 49.87 4.71 0.040 0.094 0.20 BD
Hole location data:
DataSet Prospect Hole_ID Hole_type UtmE_29N UtmN_29N Reg_RL Plan_dip Plan_Azim Hole_depth(m) Hole_Start Hole_Finish Drill_Prog
Mofe Creek Zaway ZRC001 RC 262711 761761 65 -50 7 54 22/10/2013 23/10/2013 Resource RC Driling
Mofe Creek Zaway ZRC002 RC 262709 761709 64 -50 7 86 23/10/2013 23/10/2013 Resource RC Driling
Mofe Creek Zaway ZRC004 RC 262298 761686 60 -50 7 54 24/10/2013 24/10/2013 Resource RC Driling
Mofe Creek Zaway ZRC005 RC 262296 761638 63 -50 7 90 25/10/2013 26/10/2013 Resource RC Driling
Mofe Creek Zaway ZRC006 RC 262498 761732 62 -50 7 54 25/10/2013 25/10/2013 Resource RC Driling
Mofe Creek Zaway ZRC007 RC 262502 761682 63 -50 7 84 25/10/2013 25/10/2013 Resource RC Driling
Mofe Creek Zaway ZRC008 RC 262914 761827 56 -50 7 60 25/10/2013 25/10/2013 Resource RC Driling
Mofe Creek Zaway ZRC010 RC 262075 761369 58 -50 7 72 26/10/2013 26/10/2013 Resource RC Driling
Mofe Creek Zaway ZRC011 RC 262075 761324 45 -50 7 102 26/10/2013 27/10/2013 Resource RC Driling
Mofe Creek Zaway ZRC012 RC 262093 761559 64 -50 7 60 28/10/2013 28/10/2013 Resource RC Driling
Mofe Creek Zaway ZRC013 RC 262082 761506 58 -50 7 60 28/10/2013 28/10/2013 Resource RC Driling
Mofe Creek Zaway ZRC014 RC 262078 761421 65 -50 7 73 28/10/2013 28/10/2013 Resource RC Driling
Mofe Creek Zaway ZRC015 RC 261888 761455 `72 -50 7 84 28/10/2013 28/10/2013 Resource RC Driling
Mofe Creek Zaway ZRC016 RC 261886 761407 54 -50 7 90 29/10/2013 29/10/2013 Resource RC Driling
Mofe Creek Zaway ZRC017 RC 261885 761359 58 -50 7 66 29/10/2013 29/10/2013 Resource RC Driling
Mofe Creek Zaway ZRC018 RC 261895 761306 45 -50 7 78 30/10/2013 30/10/2013 Resource RC Driling
Mofe Creek Zaway ZRC019 RC 261799 761399 48 -50 7 66 30/10/2013 30/10/2013 Resource RC Driling
Mofe Creek Zaway ZRC021 RC 262287 761398 82 -50 7 72 30/10/2013 31/10/2013 Resource RC Driling
Mofe Creek Zaway ZRC022 RC 262296 761345 60 -50 7 84 1/11/2013 1/11/2013 Resource RC Driling
Mofe Creek Zaway ZRC023 RC 262490 761409 60 -50 7 78 1/11/2013 2/11/2013 Resource RC Driling
Mofe Creek Zaway ZRC024 RC 262492 761362 50 -50 7 101 1/11/2013 3/11/2013 Resource RC Driling
Mofe Creek Zaway ZRC025 RC 262601 761410 44 -50 7 72 3/11/2013 4/11/2013 Resource RC Driling
Mofe Creek Zaway ZRC026 RC 262591 761359 41 -50 7 78 4/11/2013 5/11/2013 Resource RC Driling
Mofe Creek Zaway ZRC027 RC 261984 761571 72 -50 7 78 5/11/2013 5/11/2013 Resource RC Driling
Mofe Creek Zaway ZRC028 RC 261981 761520 69 -50 7 84 6/11/2013 6/11/2013 Resource RC Driling
Mofe Creek Zaway ZRC029 RC 261984 761422 76 -50 7 90 6/11/2013 9/11/2013 Resource RC Driling
Mofe Creek Zaway ZRC030B RC 262280 761433 68 -90 7 162 9/11/2013 11/11/2013 Resource RC Driling
Mofe Creek Zaway ZRC032 RC 262498 761632 75 -90 7 102 11/11/2013 Resource RC Driling
APPENDIX 3: JORC Table; Sampling techniques and data – Reporting of Exploration
Results
Drilling and - All drilling was conducted by reverse circulation
Sampling drilling with sampling conducted by riffle splitting to
Techniques 2-3kg for dispatch to the assay laboratory
- All sampling conducted on a 1m basis and composited
to 2m intervals for assay
Drill Sample - Moisture content and recovered sample weight were
Recovery recorded at time of sample recovery on a 1m basis
- Data used to verify recoveries and sample quality
- No sample recovery or quality issues were
encountered during the current drill program likely to
impact on the quality of data derived
- Lower RC drill chip recovery was recognised in the top
10 to 15m from surface and twinned diamond core
holes planned at each prospect to check for any
potential sample bias
Logging - All drill chips logged on site for lithology and
mineralisation. A representative sample of the chips
on a 1m basis retained on site.
- All RC chips are photographed for digital storage
Sub-sampling - Assaying and sample preparation conducted at SGS
techniques and laboratory in Monrovia
sample preparation - 2-3kg samples as received from Tawana Resources are
dried and crushed to 75% passing 2mm
- 1.5kg riffle split is then pulverised by ring & puck mill
to 85% passing 75µm and 200g recovered for analysis
Quality of Assay - All assaying conducted by Lithium metaborate
and laboratory /lithium tetraborate mixture digest and XRF finish for
tests major elements and Thermo Gravimetric Analyser
(TGA) for loss on ignition
- Blind standards, blanks and field duplicates inserted
every 50th sample by Tawana Resources in the field.
Acceptable accuracy and precision have been
established for all samples reported
- SGS laboratory conducts internal QA/QC on sample
preparation;
- Every 50th sample screened to confirm % passing 2
mm and 75 um
- Crusher and pulverizers cleaned with barren material
at the start of every batch
- % dust loss determined once per week.
- SGS laboratory conducts QA/QC on sample analysis;
- 1 Reagent Blank in 40
- 1 Preparation Blank (prep process blank) in 40
- 1 Weighed replicate in 40
- 1 Preparation Duplicate (resplit) in 40
- 1 SRM’s in 40
Verification of - All sampling data is recorded in hardcopy format
sampling and before data entry on site.
assaying
Location of Data - Collar surveys conducted by DGPS survey after hole
points completion. Down hole surveys conducted at collar
and hole bottom and at 5m intervals downhole by
Reflex gyroscopic tool
- Drill results reported in UTM 29N
Data Spacing and - Drilling conducted on 400 x 60m and 200 x 60m
Distribution nominal grid for resource drilling at Gofolo Main and
Zaway
- Drilling conducted on a nominal 400 x 60m grid for
exploration drilling at Gofolo NE
Orientation of data - Drilling has been conducted inclined 50o towards 024
in relation to at Gofolo Main and Koehnko
geological structure - Drilling has been conducted inclined 50o towards 007
UTM at Zaway
- Drilling has been conducted inclined 50o towards 327
UTM at Gofolo NE
- The orientations are essentially perpendicular to the
main structural trends at the prospects.
Sample Security - All samples are stored in a secure and gated
compound at Tawana Resources Camp facility until
handover to the independent laboratory in Monrovia
Audits or Reviews - Field duplicates are reviewed periodically by Tawana
Resources technical staff and confirm the validity of
the current sampling practice
Mineral tenement - All drilling has been conducted on the Mofe Creek
and land tenure exploration license MEL-12029.
status - Tawana Resources is 100% holder of the Mofe Creek
exploration license.
Exploration done by - No other parties have conducted exploration on the
other parties license
Geology - Mineralization is associated with moderately to
steeply dipping iron formation; likely metamorphosed
BIF to itabirite and recrystallised within a package of
intermixed itabirite and amphibolite and
hanging/footwall basement granite-gneiss. The
itabirite is medium to coarse grained with relict
banded texture and is friable where weathered from
surface to an average depth of 25-45m vertical. In-situ
iron grades are increased where weathered to form an
enrichment blanket from surface to average 25-45m
vertical depth and locally higher iron grades are
associated with primary magnetite accumulations.
Data Compositing - Data composited using weighted average and a
maximum of 4m of consecutive internal dilution
Relationship - Drilling has been planned to intersect mineralisation
between thickness of the lithological units hosting iron
widths and formation
intercept lengths - Intersections through friable mineralisation associated
with the weathering profile are typically 25% longer
than vertical depth
Balanced reporting - All drill intersections have been included in the
appendices for received and QA/QC reviewed results
Other substantive - For initial exploration drilling conducted, refer to ASX
exploration data release of 12th March 2013 and subsequent Gofolo Main
drilling intersections refer to ASX release of 20th
November 2013
Further Work - Further work will include diamond core drilling for
metallurgical test-work and twinning of RC drilling for
QA/QC
Date: 03/02/2014 12:18:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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