Wrap Text
Maiden Lithium Mineral Resource for Bald Hill Lithium and Tantalum Project
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”)
Maiden Lithium Mineral Resource for Bald Hill Lithium and
Tantalum Project
Tawana Resources NL (“Tawana”) and Alliance Mineral Assets Limited (SGX: AMAL) are
pleased to announce a maiden Indicated and Inferred lithium Mineral Resource for the Bald Hill
Lithium and Tantalum Project.
Highlights
- Resource independently estimated by CSA Global Pty Ltd.
- Maiden Indicated and Inferred lithium Mineral Resource of:
- High grade of 12.8 million tonnes at 1.18% Li2O and 158ppm Ta205 at a 0.5% Li20 cut-
off.
- High grade tantalum Resources have increased 250% to 8.9 million tonnes at 304ppm Ta2O5
containing 6 million pounds of tantalum pentoxide, including 5.7 million tonnes at 311ppm
Ta2O5 not included in the +0.5% Li2O lithium resource.
- Approximately 80% of the lithium and tantalum resources above 0.5% Li20 occurs in a 100m
deep interval commencing from about 30m below the lowest surface level.
- Maiden Resource covers only 20% of the known southern swarm of lithium pegmatites. Ongoing
drilling continues to expand the resource footprint.
- The Resource satisfies the condition precedent to the second offtake prepayment with Burwill
Holdings Ltd, due on 15 July 2017.
- The substantial Resource complements the excellent recoveries from metallurgical test work.
- Feasibility Study completion is imminent.
- First lithium shipment targeted for Q1 2018.
Tawana Resources Managing Director Mark Calderwood stated: “The 18.5Mt of combined high-
grade lithium and tantalum resources is an excellent start from initial drilling at Bald Hill which has
only tested 20% of the initial mineralised target area. Exploration drilling is continuing at Bald Hill
with the intention of providing resource upgrades over the next six months. We are also pleased to
have met the Resource condition precedent of the off-take early.”
Mineral Resource Estimate
CSA Global Pty Ltd (“CSA Global”) was commissioned by Tawana to compile the maiden lithium
Mineral Resource estimate for the Bald Hill Project and update the tantalum Resource.
The Bald Hill Pegmatite Mineral Resource comprises one large, main, sub horizontal pegmatite
body, striking north-south, with a strike length of 1,070 metres, and a width at its widest point of
775 metres. This main body is surrounded by several smaller discrete pegmatite bodies, sub-
parallel to the main, which result in a total strike length for the whole resource of 1,245 metres,
and a total width of 990 metres. The Mineral Resource has a total vertical depth of 195 metres,
beginning 20 metres below the natural surface and plunging gently to the south along its entire
strike length.
The Mineral Resource has been classified as Indicated and Inferred in accordance with the JORC
Code, 2012 Edition on a qualitative basis; taking into consideration numerous factors including
drillholes spacing, estimation quality statistics (kriging slope of regression), number of informing
samples, average distance to informing samples in comparison to the semivariogram model ranges,
and overall coherence and continuity of the modelled mineralisation wireframes. All factors that
have been considered have been included in Section 1 and Section 3 of Appendix 1.
Table 1 | Bald Hill Project, Resources above 0.5% Li2O cut-off
Grade Contained Grade Contained
Resource Tonnes
Li2O Li2O Ta2O5 Ta205
Category (Mt)
% Tonnes ppm (,000) Lbs
Indicated 4.6 1.25 57,100 207 2,200
Inferred 8.2 1.14 94,300 130 2,500
Total 12.8 1.18 151,400 158 4,700
Table 2 | Bald Hill Project, Resources above 0.5% Li2O and 200ppm Ta2O5 cut-offs
Resource Tonnes Grade Contained Grade Contained
Category (Mt) Li2O Li2O Ta2O5 Ta205
% Tonnes ppm (,000) Lbs
Indicated 1.9 1.26 23,700 312 1,300
Inferred 1.4 1.10 15,000 291 900
Total 3.2 1.19 38,700 303 2,100
Note
The tantalum resources form part of the lithium/tantalum resources reported in Table 1
Table 3 | Bald Hill Project, Resources below 0.5% Li2O and above 200ppm Ta2O5 cut-offs
Resource Tonnes Grade Contained
Category (Mt) Ta2O5 Ta205
ppm (,000) Lbs
Indicated 2.8 325 2,000
Inferred 2.9 297 1,900
Total 5.7 311 3,900
Note
1) The tantalum resources reported in Table 3 are additional to those reported in Table 1 and 2.
Off Take Condition Precedent
The CSA Global Mineral Resource estimate at a 0.5% Li2O cut-off (refer Table 1 & 4) satisfies
the tonnage and grade condition precedent to the second and third prepayment due to AMA and
Tawana on 15 July 2017 (Refer Tawana ASX announcement on 26 April 2017 and AMA
Announcement on 27 April 2017) from Burwill Holdings Ltd (Burwill).
Burwill has agreed to advance Tawana and AMA a combined amount of A$25,000,000 in total
(“Advance Payment Amount”) in the amounts, and on the dates set below:
• A$3,750,000 (to each Tawana and AMAL) was received on signing the Agreement;
• On 15 July 2017, A$4,375,000 to each of Tawana and AMA; and
• On 15 September 2017, A$4,375,000 to each of Tawana and AMA.
The Advance Payments shall be used for the development and operational costs of the Bald Hill Project.
Tawana and AMAL has committed all 2018 and 2019 lithium ore concentrate that comes from
the planned Bald Hill Lithium and Tantalum Project for a fix price of US$880/t (FOB
Esperance) for 6% Li2O with price adjustment increment/decrement of US$/15t based on grade
variation of 0.1%. The minimum accepted grade is 5.5%.
Prior Estimates
The current resource estimate supersedes the prior resource as reported in the August 2016
Independent Qualified Person’s Report for AMA, on the Bald Hill Tantalum Project. This prior
estimate was not completed by CSA Global.
Table 4 | Previous Mineral Resource Estimate (Prior Resource)
Resource Tonnes Grade Contained
Category (Mt) Ta2O5 Ta205
ppm ,000 Lbs
Indicated 2.3 304 1,600
Inferred 1.1 339 800
Total 3.4 315 2,400
Feasibility Study
The completion of the Resource estimate will enable proposed mine scheduling to be completed.
Mining scheduling was the last remaining component of the study which is in the process of being compiled.
ASX Listing Rule 5.8.1 Compliance
Geology and Geological Interpretation
The Bald Hill area is underlain by generally north-striking, steeply dipping Archaean
metasediments (schists and greywackes) and granitoids. Felsic porphyries and pegmatite sheets
and veins have intruded the Archaean rocks. Generally, the pegmatites cross cut the regional
foliation, occurring as gently dipping sheets and as steeply dipping veins.
The pegmatites vary in width and are generally comprised quartz-albite- muscovite-spodumene in
varying amounts. Late-stage albitisation in the central part of the main outcrop area has resulted
in fine- grained, banded, sugary pegmatites with visible fine-grained, disseminated tantalite. A thin
hornfels characterised by needle hornblende crystals is often observed in adjacent country rocks
to the pegmatite intrusives. Tantalite generally occurs as fine disseminated crystals commonly
associated with fine-grained albite zones, or as coarse crystals associated with cleavelandite.
The geological model developed is based on lithological logging of pegmatites within a
metasedimentary host, with occasional hypabyssal intrusions of dioritic composition.
The pegmatites on which this Mineral Resource was defined were domained internally on the basis
of a 7,500ppm Li2O cut-off, which itself was determined from exploratory data analysis as a point
of inflection within the Li2O grade distribution. This resulted in a high-grade core of Li2O
mineralisation surrounded by lower grade pegmatite, and is an interpretation supported by the
petrogenetic model for the formation of Li2O bearing pegmatites.
Drilling Techniques
Drilling supporting the Mineral Resource is predominately Reverse Circulation (RC) with minor
diamond core drilling (DD) and RC with diamond core tails (RCD). The Bald Hill deposit database
includes 728 drill holes for 63,539.2m of drilling, made up of 716 RC holes (61,621.2m), 9 RCD
holes (1,660.4m) and 3 DD holes (257.6m). The Mineral Resource is based on assay data from
460 RC holes, 9 RCD holes and 3 DD holes.
All historical holes drilled by Haddington were removed from the estimated as they were only
assayed for tantalum. Some recent drilling undertaken by Tawana has been excluded where collar
and/or down hole surveys have not been completed, and where final assay results have not been
received.
Drilling has been angled to achieve the most representative intersections through mineralisation.
All diamond drill holes and approx. 98% of RC drill holes are angled. The remaining holes have
been drilled vertically. Drilling has been conducted on a 40m by 40m grid extending to 80m by
80m on the peripheries of the deposit, with a 140m by 80m area in the northern portion of the
deposit drilled out at 20m by 20m.
Sampling Techniques
RC cuttings were continuously sampled at 1m intervals from the collar to the end of each drill hole
using a riffle or cone splitter on-site to produce a subsample less than 5kg.
DD core was typically continuously sampled at 2m intervals from the collar to the end of hole.
Where required by changes in lithology, mineralisation or alteration, core samples may be shorter
or longer than the typical 2m. Core was cut into half with one half sent for analysis and the other
half stored in the core library at the project site.
Sample Analysis Method
Drill samples were jaw crushed and riffle split to 2-2.5kg for pulverizing to 80% passing 75
microns. Prepared samples are fused with sodium peroxide and digested in dilute hydrochloric
acid. The resultant solution is analysed by ICP, by Nagrom Laboratory in Perth.
The assay technique is considered to be robust as the method used offers total dissolution of the
sample and is useful for mineral matrices that may resist acid digestions.
Standards and duplicates were submitted in varying frequency throughout the exploration
campaign and internal laboratory standards, duplicates and replicates are used for verification.
Estimation Methodology
The Bald Hill MRE uses a Surpac block model dimensions with parent cells of 10m by 10m by
5m (XYZ) sub-celled to 2.5 by 2.5 by 1.25m for resolution of volumes at lithological boundaries.
This compares to an average drillhole spacing of 20m within the more densely informed areas of
the deposit. Kriging Neighbourhood Analysis (KNA) was conducted within the SupervisorTM
software package to test a variety of block sizes across the deposit.
Samples were composited to 1m intervals based on assessment of the raw drill hole sample
intervals. Various high grade cuts were used for both Li2O and Ta2O5 based on statistical review
of each object.
Li2O and Ta2O5 grades for the main mineralised zones were interpolated using ordinary kriging.
High and low grade domains were estimated independently with hard boundaries assumed between
domains. A two search pass strategy was employed, with successive searches using more relaxed
parameters for selection of input composite data, and a greater search radius. Blocks not informed
for any given variable after two passes were assigned the Sichel Mean of the input data from that
particular domain.
In situ bulk densities for the Bald Hill Mineral Resource have been assigned on a lithological basis
for both mineralisation and waste, based 69 cores samples and values taken from those used in
similar deposits and lithologies. Fixed density values assigned into the block model included waste
back-fill to 1.8t/m3, transitional pegmatite to 2.5t/m3, fresh metasediment waste to 2.74t/m3, fresh
diorite dykes to 2.8t/m3 and fresh pegmatite to 2.65t/m3. Additional bulk density analysis is being
undertaken utilising DD core.
The resource model was validated both visually and statistically prior to final reporting.
Cut-off Grades
The Bald Hill MRE pegmatite wireframes were generated using logged pegmatite lithologies and
a minimum down hole width of 3m, while the internal ‘high grade’ lithium wireframes were
generated using a nominal 7,500ppm cut-off grade and a minimum down hole width of 3m
determined from exploratory data analysis as a point of inflection within the Li2O grade
distribution.
The Mineral Resource is reported using a 0.5% Li2O cut-off which approximates a conservative
cut-off grade used for potential open pit mining as determined from preliminary pit optimisations.
Mineral Resource Classification
The Mineral Resource has been classified in the Indicated and Inferred categories, taking into
consideration numerous factors including drillholes spacing, estimation quality statistics (kriging
slope of regression), number of informing samples, average distance to informing samples in
comparison to the semivariogram model ranges, and overall coherence and continuity of the
modelled mineralisation wireframes.
Eventual Economic Extraction
The Bald Hill pegmatite deposit has previously been mined for tantalum (Ta2O5), however no
account for Li2O was undertaken. A positive conceptual engineering study (refer Tawana ASX
release 16th January, 2017) undertaken by Tawana reported that the deposit could be mined
economically via open pit methods. Tawana subsequently announced the commencement of a full
feasibility study for the Bald Hill Lithium and Tantalum Project and has commenced early stage
earth works on site, with first production expected in the first quarter of 2018.
Independent Qualified Person’s Report by AMA
AMA will issue an independent qualified person’s report which complies with the requirements
as set out in paragraph 5 of Practice Note 4C of the Listing Manual Section B: Rules of the Catalist
of the Singapore Exchange Trading Limited (“Catalist Rules”) in due course.
Bald Hill Project (AMA 100%, TAW Earning 50%)
The Bald Hill project (Project) area is located 50km south east of Kambalda in the Eastern
Goldfields of Western Australia. It is located approximately 75km south east of the Mt Marion
Lithium project and is adjacent to Tawana’s Cowan Lithium project. The Project, owned by
Alliance Mineral Assets Limited (AMA), includes a permitted tantalum (pegmatite) mine,
processing facility and associated infrastructure.
Through Tawana’s 100% owned subsidiary Lithco No. 2 Pty Ltd (Lithco), Tawana entered into a
Farm-In Agreement on 23 February 2017 with Alliance Mineral Assets Limited with respect to
AMA’s Bald Hill project in Western Australia for the purpose of joint exploration and exploitation
of lithium and other minerals.
The commercial terms require Tawana:
i. to spend, by 31 December 2017 (or such later date as may be agreed between the parties),
a minimum of $7.5 million on exploration, evaluation and feasibility (“Expenditure
Commitment”); and at its election
ii. to spend, $12.5 million in capital expenditure required for upgrading and converting the
plant for processing ore derived from the Project, infrastructure costs, pre-stripping
activities and other expenditures including operating costs (“Capital Expenditure”) by 31
December 2019.
Upon completion of the Expenditure Commitment, Tawana shall be entitled to 50% of all rights
to lithium minerals from the tenements comprising the Project (“Tenements”). AMA and Lithco
had on 10 April 2017 entered into a lithium rights joint venture agreement.
Upon completion of the Expenditure Commitment and Capital Expenditure, Tawana will be
entitled to a 50% interest in the Project (being all minerals from the tenements and the processing
plant and infrastructure at Bald Hill). The portfolio of mineral tenements, comprising mining
leases, exploration licences, prospecting licences, miscellaneous licences, a general-purpose lease,
and a retention lease are in good standing. AMA and Lithco had on 18 April 2017 entered into a
Bald Hill Joint Venture Agreement.
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 and Mr
Gareth Reynolds, both employees of Tawana Resources NL (“Tawana”). Mr Calderwood is a
member of The Australasian Institute of Mining and Metallurgy and Mr Reynolds is a member of
the Australian Institute of Geoscientists. Mr Calderwood and Mr Reynolds have 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 and Mr Reynolds consent to the inclusion in this report of the matters based on
their information in the form and context in which it appears. Mr Calderwood and Mr Reynolds
meet the requirements to act as a Qualified Person (as defined in the SGX Catalist rules).
Mr Calderwood is a significant shareholder in Tawana. Mr Calderwood and Tawana do not
consider these to constitute a potential conflict of interest to his role as Competent Person. Mr
Calderwood is not aware of any other relationship with Tawana which could constitute a potential
for a conflict of interest.
Mr Reynolds is an employee of Tawana. Mr Reynolds is not aware of any other relationship with
Tawana which could constitute a potential for a conflict of interest.
The information in this news release that relates to Resource Estimates (excluding prior estimates)
is based on and fairly represents information and supporting documentation compiled by Dr
Matthew Cobb and Mr Ralph Porter, both employees of CSA Global Pty Ltd. Dr Cobb is a member
of both The Australasian Institute of Mining and Metallurgy and Australian Institute of
Geoscientists, and Mr Porter is a member of the Australian Institute of Geoscientists. Both Dr
Cobb and Mr Porter have 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”. Dr Cobb and Mr Porter consent to the inclusion in this
report of the matters based on their information in the form and context in which it appears. Dr
Cobb and Mr Porter meet the requirements to act as Qualified Persons (as defined in the SGX
Catalist rules).
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 as
representation or warranty, express or implied, of Tawana Resources NL and/or Alliance Mineral
Assets Limited. 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 and/or Alliance Mineral Assets Limited. The forward looking statements/projections are
inherently uncertain and may therefore differ materially from results ultimately achieved.
Tawana Resources NL and/or Alliance Mineral Assets Limited 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 Tawana Resources NL and/or
Alliance Mineral Assets Limited or any of their 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 Tawana Resources NL and/or
Alliance Mineral Assets Limited, their 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.
14 June 2017
Sponsor
PricewaterhouseCoopers Corporate Finance (Pty) Ltd
Appendix 1
Section 1 Sampling Techniques and Data
Criteria JORC Code Explanation Commentary
Sampling Nature and quality of sampling (e.g. cut channels, Drilling consists of ~98% reverse circulation (RC), RC
techniques random chips, or specific specialised industry with diamond core tails (RCD) and diamond drilling
standard measurement tools appropriate to the (DD) for a total 728 holes for 63,539.2m of drilling in
minerals under investigation, such as down hole the Bald Hill project database. The Bald Hill Mineral
gamma sondes, or handheld XRF instruments, Resource is based on assay data from 460 RC holes, 9
etc.). These examples should not be taken as RCD holes and 3 DD holes.
limiting the broad meaning of sampling.
RC cuttings were continuously sampled at 1m
intervals through all pegmatite intercepts including
2m of waste above and below each intercept.
DD core is typically continuously sampled at 2m
intervals through pegmatite intercepts. Where
required by changes in lithology, mineralization, or
alteration, core samples may be shorter or longer
than the typical 2m.
Include reference to measures taken to ensure The majority of drill hole collars are accurately
sample representivity and the appropriate surveyed using RTK DGPS equipment.
calibration of any measurement tools or systems
Drill samples are logged for lithology, weathering,
used.
structure (diamond core), mineralogy, mineralisation,
colour and other features.
Half diamond core was collected and placed in
marked plastic sacks, and shipped to the assay
laboratory.
RC samples were collected and placed in marked
plastic bags which were placed in sacks and then
shipped to the assay laboratory.
Aspects of the determination of mineralisation Drill samples were jaw crushed and riffle split to 2-
that are Material to the Public Report. In cases 2.5kg for pulverizing to 80% passing 75 microns.
where ‘industry standard’ work has been done this Prepared samples are fused with sodium peroxide and
would be relatively simple (e.g. ‘reverse digested in dilute hydrochloric acid. The resultant
circulation drilling was used to obtain 1 m samples solution is analysed by ICP, by Nagrom Laboratory in
from which 3 kg was pulverised to produce a 30 g Perth.
charge for fire assay’). In other cases more
The assay technique is considered to be robust as the
explanation may be required, such as where there
method used offers total dissolution of the sample
is coarse gold that has inherent sampling
and is useful for mineral matrices that may resist acid
problems. Unusual commodities or mineralisation
digestions.
types (e.g. submarine nodules) may warrant
disclosure of detailed information.
Drilling Drill type (e.g. core, reverse circulation, open- RC was drilled using 4.5-inch (140 mm) rods with a
techniques hole hammer, rotary air blast, auger, Bangka, nominal 5.9-inch (150 mm) diameter hole. Diamond
sonic, etc.) and details (e.g. core diameter, triple core used either PQ, NQ2 or HQ3 diameter core. Core
or standard tube, depth of diamond tails, face- was oriented where possible.
Criteria JORC Code Explanation Commentary
sampling bit or other type, whether core is
All DD holes and ~98% of RC drill holes are angled; the
oriented and if so, by what method, etc.).
remainder were drilled vertically.
Drill sample Method of recording and assessing core and chip Chip recovery or weights for RC drilling were not
recovery sample recoveries and results assessed. recorded. Core recovery is very good through the
mineralised zones and estimated to be greater than
90%.
Measures taken to maximise sample recovery and RC drilling generally utilised an external booster to
ensure representative nature of the samples. keep samples dry and maximising recoveries. The
majority of RC holes are shallow (<150m) with very
few wet samples encountered.
Whether a relationship exists between sample No relationship between grade and recovery has been
recovery and grade and whether sample bias may identified.
have occurred due to preferential loss/gain of
fine/coarse material.
Logging Whether core and chip samples have been Geological logs exist for all drill holes with lithological
geologically and geotechnically logged to a level of codes via an established reference legend.
detail to support appropriate Mineral Resource
Drill samples were logged for lithology, weathering,
estimation, mining studies and metallurgical
structure (diamond core), mineralogy, mineralisation,
studies.
colour and other features. Logging and sampling has
been carried out to “industry norms” to a level
sufficient to support the Mineral Resource estimate.
Whether logging is qualitative or quantitative in Drill holes have been geologically logged in their
nature. Core (or costean, channel, etc.) entirety. Where logging was detailed, the subjective
photography. indications of spodumene content were estimated and
recorded.
The total length and percentage of the relevant All drill holes are logged in full, from start to finish of
intersections logged. the hole.
Sub-sampling If core, whether cut or sawn and whether quarter, Where sampled, core is cut in half onsite using an
techniques and half or all core taken. industry standard core saw, to produce two identical
sample halves.
preparation
If non-core, whether riffled, tube sampled, rotary Dry RC samples were collected at 1m intervals and
split, etc. and whether sampled wet or dry. riffle or cone split on-site to produce a subsample less
than 5kg.
For all sample types, the nature, quality and Sample preparation is according to industry standard,
appropriateness of the sample preparation including oven drying, coarse crush, and pulverisation
technique. to 80% passing 75 microns.
Criteria JORC Code Explanation Commentary
Quality control procedures adopted for all sub- Subsampling is performed during the preparation
sampling stages to maximise representivity of stage according to the assay laboratories’ internal
samples. protocol.
Measures taken to ensure that the sampling is Field duplicates, laboratory standards and laboratory
representative of the in situ material collected, repeats are used to monitor analyses.
including for instance results for field
duplicate/second-half sampling.
Whether sample sizes are appropriate to the grain Sample sizes are considered to be appropriate and
size of the material being sampled. correctly represent the style and type of
mineralisation.
Quality of assay The nature, quality and appropriateness of the The assay technique is considered to be robust as the
data and assaying and laboratory procedures used and method used offers total dissolution of the sample
laboratory tests whether the technique is considered partial or and is useful for mineral matrices that may resist acid
total. digestions.
For geophysical tools, spectrometers, handheld None were used.
XRF instruments, etc., the parameters used in
determining the analysis including instrument
make and model, reading times, calibrations
factors applied and their derivation, etc.
Nature of quality control procedures adopted (e.g. Standards and duplicates were submitted in varying
standards, blanks, duplicates, external laboratory frequency throughout the exploration campaign and
checks) and whether acceptable levels of accuracy internal laboratory standards, duplicates and
(i.e. lack of bias) and precision have been replicates are used for verification.
established.
Verification of The verification of significant intersections by Significant intersections have been verified by
sampling and either independent or alternative company alternative TAW personnel and by a CSA Global
assaying personnel. Competent Person (Ralph Porter).
The Ta and Li assays show a marked correlation with
the pegmatite intersections via elevated downhole
grades.
The use of twinned holes. Twinning of holes undertaken to date show
reasonable continuity and representivity of the
mineralised intervals.
Documentation of primary data, data entry Drill logs exist for all holes as electronic files and/or
procedures, data verification, data storage hardcopy (all 2017 logging has been input directly to
(physical and electronic) protocols. field logging computers).
Digital log sheets have been created with inbuilt
validations to reduce potential for data entry errors.
All drilling data has been loaded to a database and
validated prior to use.
Discuss any adjustment to assay data. For the Mineral Resource estimate, adjustments were
made to a number of down hole surveys. These
adjustments were made where angled holes were
blocked well before the end of hole, or where down
hole surveys had not yet been undertaken but surveys
had been completed for nearby holes.
Criteria JORC Code Explanation Commentary
Where the drill hole was blocked, the last survey was
copied to the end of hole depth. Where no down hole
survey was completed or the hole was blocked at
surface, the down hole surveys from a nearby hole,
drilled by the same rig (and preferably same driller),
was copied and applied to the hole. Some of these
holes may need to be re-entered, cleaned and
surveyed in the future. All changes were marked as
‘nominal’ in the database.
In all cases, corrections to down hole surveys were
reviewed against surrounding drill holes and
pegmatite intervals to ensure error was minimised.
Location of Accuracy and quality of surveys used to locate drill Prior to drilling, collar coordinates are situated using
data points holes (collar and down-hole surveys), trenches, hand held GPS (considered accurate to within 4m).
mine workings and other locations used in Mineral Following drilling, accurate surveying using RTK DGPS
Resource estimation. is undertaken by trained site personnel.
Hole collars are preserved until completion of down
hole surveying. A significant portion of holes are
surveyed down hole digital instruments dominated by
gyro tools.
Specification of the grid system used. Grid used is MGA 94 Zone 51.
Quality and adequacy of topographic control. Topographical survey is generated from detailed
airborne survey with points generated on a 1m by 1m
grid. Areas mined have been defined by final mine
surveys.
Data spacing Data spacing for reporting of Exploration Results. Drilling has been conducted on a 40m by 40m grid
and distribution extending to 80m by 80m on the peripheries of the
deposit, with a 140m by 80m area in the northern
portion of the deposit drilled out at 20m by 20m.
Whether the data spacing and distribution is The spacing of holes is considered of sufficient density
sufficient to establish the degree of geological and to provide an ‘Indicated’ or ‘Inferred’ Mineral
grade continuity appropriate for the Mineral Resource estimation and classification under JORC
Resource and Ore Reserve estimation procedure(s) (2012).
and classifications applied.
Whether sample compositing has been applied. There has been no sample compositing.
Orientation of Whether the orientation of sampling achieves Drilling has been angled to achieve the most
data in relation unbiased sampling of possible structures and the representative intersections through mineralisation.
to geological extent to which this is known, considering the
The majority of drilling is angled. Some vertical holes
structure deposit type.
have been drilled in areas where access is limited or
the pegmatites are interpreted to be flat lying.
If the relationship between the drilling orientation The lithium tantalite-bearing pegmatites are
and the orientation of key mineralised structures generally flat to shallowly dipping in nature. The true
is considered to have introduced a sampling bias, width of pegmatites is generally considered 80-95% of
this should be assessed and reported if material. the intercept width, with minimal opportunity for
sample bias.
Sample security The measures taken to ensure sample security. The drill samples are taken from the rig by
experienced personnel, stored securely and
transported to the laboratory by a registered courier
and handed over by signature.
Criteria JORC Code Explanation Commentary
Audits or The results of any audits or reviews of sampling No audits have been undertaken to date.
reviews techniques and data.
Section 2 Reporting of Exploration Results
Criteria Explanation Commentary
Mineral Type, reference name/number, location and The Bald Hill Resource is situated on Mining lease
tenement and ownership including agreements or material issues M15/400 comprising 501Ha. M 15/400 is 100% owned
land tenure with third parties such as joint ventures, by Australian incorporated, Singapore Exchange listed
status partnerships, overriding royalties, native title Alliance Mineral Assets Limited (AMAL).
interests, historical sites, wilderness or national
The Mining lease are subject to an earn-in agreement
park and environmental settings.
between AMAL and Tawana Resources Limited.
There are no other third-party interests or royalties.
Government royalties are 5% for Lithium or Tantalum
mineral concentrates.
The security of the tenure held at the time of The portfolio of mineral tenements, comprising
reporting along with any known impediments to mining leases, exploration licences, prospecting
obtaining a licence to operate in the area. licences, miscellaneous licences, a general-purpose
lease, and a retention lease are in good standing.
Exploration Acknowledgment and appraisal of exploration by Alluvial tantalite has been mined periodically from
done by other other parties. the early 1970s.
parties
Gwalia Consolidated Limited undertook exploration
for tantalite-bearing pegmatites from 1983-1998.
Work included mapping, costeaning, and several
phases of drilling using RAB, RC, and diamond
methods. The work identified mineral resources that
were considered uneconomic at the time.
Haddington Resources Limited (Haddington) entered
agreement to develop the resource and mining
? commenced in 2001 and continued until
2005.
? Haddington continued with exploration until
2009.
Living Waters acquired the project in 2009 and
continued with limited exploration to the north of the
main pit area.
Geology Deposit type, geological setting and style of The Bald Hill area is underlain by generally north-
mineralisation. striking, steeply dipping Archaean metasediments
(schists and greywackes) and granitoids.
Felsic porphyries and pegmatite sheets and veins have
intruded the Archaean rocks. Generally, the
pegmatites cross cut the regional foliation, occurring
as gently dipping sheets and as steeply dipping veins.
The pegmatites vary in width and are generally
comprised quartz-albite- muscovite-spodumene in
varying amounts. Late-stage albitisation in the central
part of the main outcrop area has resulted in fine-
grained, banded, sugary pegmatites with visible fine-
grained, disseminated tantalite. A thin hornfels
characterised by needle hornblende crystals is often
observed in adjacent country rocks to the pegmatite
intrusives. Tantalite generally occurs as fine
disseminated crystals commonly associated with fine-
grained albite zones, or as coarse crystals associated
with cleavelandite.
Criteria Explanation Commentary
Weathering of the pegmatites yields secondary
mineralised accumulations in alluvial/elluvial
deposits.
Drill hole A summary of all information material to the Not Applicable – Not reporting exploration results.
Information understanding of the exploration results including
a tabulation of the following information for all
Material drill holes:
• easting and northing of the drill hole collar
• elevation or RL (Reduced Level – elevation
above sea level in metres) of the drill hole
collar
• dip and azimuth of the hole
• down hole length and interception depth
• hole length.
If the exclusion of this information is justified on Not Applicable – Not reporting exploration results.
the basis that the information is not Material and
this exclusion does not detract from the
understanding of the report, the Competent
Person should clearly explain why this is the case.
Data In reporting Exploration Results, weighting Not Applicable – Not reporting exploration results.
aggregation averaging techniques, maximum and/or minimum
methods grade truncations (e.g. cutting of high grades) and
cut-off grades are usually Material and should be
stated.
Where aggregate intercepts incorporate short Not Applicable – Not reporting exploration results.
lengths of high grade results and longer lengths of
low grade results, the procedure used for such
aggregation should be stated and some typical
examples of such aggregations should be shown in
detail.
The assumptions used for any reporting of metal Not Applicable – Not reporting exploration results.
equivalent values should be clearly stated.
Relationship These relationships are particularly important in Not Applicable – Not reporting exploration results.
between the reporting of Exploration Results.
mineralisation
If the geometry of the mineralisation with respect The majority of drilling is angled. Some vertical holes
widths and
to the drill hole angle is known, its nature should have been drilled in areas where access is limited or
intercept
be reported. the pegmatites are interpreted to be flat lying.
lengths
The lithium tantalite-bearing pegmatites are
generally flat to shallowly dipping in nature. The true
width of pegmatites are generally considered 85-95%
of the intercept width, with minimal opportunity for
sample bias.
If it is not known and only the down hole lengths Not Applicable – Not reporting exploration results.
are reported, there should be a clear statement to
this effect (e.g. ‘down hole length, true width not
known’).
Diagrams Appropriate maps and sections (with scales) and Not Applicable – Not reporting exploration results
tabulations of intercepts should be included for
any significant discovery being reported These
Criteria Explanation Commentary
should include, but not be limited to a plan view
of drill hole collar locations and appropriate
sectional views.
Balanced Where comprehensive reporting of all Exploration Not Applicable – Not reporting exploration results
reporting Results is not practicable, representative
reporting of both low and high grades and/or
widths should be practiced to avoid misleading
reporting of Exploration Results.
Other Other exploration data, if meaningful and The metallurgical test work for spodumene referred
substantive material, should be reported including (but not to in the release was undertaken by Nagrom. Nagrom
exploration limited to): geological observations; geophysical has extensive experience with tantalum and lithium
data survey results; geochemical survey results; bulk extraction testwork and has ISO9001:2008
samples – size and method of treatment; accreditation. Results have been reported without
metallurgical test results; bulk density, interpretation.
groundwater, geotechnical and rock
characteristics; potential deleterious or
contaminating substances.
Further work The nature and scale of planned further work (e.g. Further RC and diamond drilling is warranted at the
tests for lateral extensions or depth extensions or deposit to explore for additional resources and
large-scale step-out drilling). improve the understanding of the current resources
prior to mining.
Diagrams clearly highlighting the areas of possible Diagrams have been included in the body of this
extensions, including the main geological report.
interpretations and future drilling areas, provided
this information is not commercially sensitive.
Section 3 Estimation and Reporting of Mineral Resources (Criteria listed in the
preceding section also apply to this section)
Criteria Explanation Commentary
Database Measures taken to ensure that data has not been Logging is completed onto templates using standard
integrity corrupted by, for example, transcription or keying logging codes into Toughbook laptops. Analytical
errors, between its initial collection and its use for results are imported directly into the database by a
Mineral Resource estimation purposes. database specialist.
The central database, from which the extract used for
Mineral Resource estimation was taken, is managed
by Tawana. Upon receipt of the extract, CSA Global
validated the database for internal integrity as part
of the import process for modelling in Surpac.
Data validation procedures used. Data were validated for internal database integrity as
part of the import process for use in Surpac. This
includes logical integrity checks for data beyond the
hole depth maximum, and overlapping from-to errors
within interval data. Visual validation checks were
also made for obviously spurious collar or downhole
survey values, collars which were not assigned a
proper RL value, and collars which may lack
substantial downhole survey data.
Site visits Comment on any site visits undertaken by the CSA Global Principal Consultant; Ralph Porter has
Competent Person and the outcome of those visits. visited site and reviewed the drilling, sample
Criteria Explanation Commentary
collection, and logging data collection procedures,
along with conducting a review of the site geology.
The outcome of the site visits (broadly) were that
data has been collected in a manner that supports
reporting a Mineral Resource estimate in accordance
with the JORC Code, and controls to the
mineralisation are well-understood.
If no site visits have been undertaken indicate why Not Applicable.
this is the case.
Geological Confidence in (or conversely, the uncertainty of ) The geological model developed is based on
interpretation the geological interpretation of the mineral lithological logging of pegmatites within a
deposit. metasedimentary host, with occasional hypabyssal
intrusions of dioritic composition. The deposit geology
is very well understood based on previous mining
history and open pit exposures, and this is reflected
in the generally high confidence in both the
mineralisation and geological interpretations.
Nature of the data used and of any assumptions The input data used for geological modelling has been
made. derived from the qualitative and quantitative logging
of lithology, alteration, geochemical composition of
samples returned from RC and DD drilling.
The effect, if any, of alternative interpretations The geological model developed has a solid
on Mineral Resource estimation. lithological basis, and is controlled by the presence of
visually distinct pegmatite within drillholes.
Pegmatite structures have been modelled as
predominantly low angle / sub-horizontal structures
on the basis of a high density of input drillhole data
and confirmation of the interpretation on the basis of
mapping. The data do not readily lend themselves to
alternative interpretations, and it is unlikely that such
alternatives would yield a more geologically
reasonable result.
The use of geology in guiding and controlling The model developed for mineralisation is
Mineral Resource estimation. geologically driven; controlled by the presence or
absence of pegmatite.
The factors affecting continuity both of grade and Geological continuity is controlled by the preference
geology. for fractionated pegmatitic fluids to follow
preferential structural pathways through the host
rocks (an intercalated pile of metasediments and
metavolcanics. Grade within this pegmatite is
controlled by numerous factors such as fluid residence
time, degree of fluid fractionation and pegmatite
thickness.
Dimensions The extent and variability of the Mineral Resource The Bald Hill Mineral Resource comprises one large,
expressed as length (along strike or otherwise), main, sub horizontal pegmatite body, striking north-
plan width, and depth below surface to the upper south, with a strike length of 1,070m, and a width at
and lower limits of the Mineral Resource. its widest point of 775m. This main body is surrounded
by several smaller discrete pegmatite bodies, sub-
parallel to the main, which result in a total strike
length for the whole resource of 1,245m, and a total
width of 990m. The Mineral Resource has a total
vertical depth of 195m, beginning 20m below the
Criteria Explanation Commentary
natural surface and plunging gently to the south along
its entire strike length.
Estimation and The nature and appropriateness of the estimation The Bald Hill Mineral Resource has been estimated
modelling technique(s) applied and key assumptions, using ordinary Kriging in a Surpac block model. The
techniques including treatment of extreme grade values, variables Li2O ppm and Ta2O5ppm were estimated
domaining, interpolation parameters and independently in a univariate sense. The pegmatites
maximum distance of extrapolation from data on which this Mineral Resource was defined was
points. If a computer assisted estimation method domained internally on the basis of a 7,500ppm Li2O
was chosen include a description of computer cut-off, which itself was determined from exploratory
software and parameters used. data analysis as a point of inflection within the Li2O
grade distribution. This resulted in a high-grade core
of Li2O mineralisation surrounded by lower grade
pegmatite, and is an interpretation supported by the
petrogenetic model for the formation of Li 2O bearing
pegmatites.
Samples were composited to 1m intervals based on
assessment of the raw drill hole sample intervals.
Various high grade cuts were used for both Li2O
(ranging from 10,000ppm to 40,000ppm) and Ta2O5
(ranging from 300mm to 4,000ppm) based on
statistical review of each object. Composites for some
objects remained uncut depending on the statistical
review.
High and low grade domains were estimated
independently with hard boundaries assumed
between domains. Parameters for estimation and
search ellipsoids were determined from quantitative
kriging analysis performed within the SupervisorTM
software package, which was also used to define
semivariogram models for each variable. The
parameters defined for the largest, most populated
domains (main mineralised body and its high-grade
core) were used to inform all smaller subsidiary
domains during estimation.
A two search pass strategy was employed, with
successive searches using more relaxed parameters
for selection of input composite data, and a greater
search radius. Blocks not informed for any given
variable after two passes were assigned the Sichel
Mean of the input data from that particular domain.
All geological modelling and grade estimation was
completed using Surpac software.
The availability of check estimates, previous No check estimates are available for the current
estimates and/or mine production records and Mineral Resource. Historic estimates for the Bald Hill
whether the Mineral Resource estimate takes deposit focussed on Ta2O5 only, and as such are not
appropriate account of such data. directly comparable to the current estimate for which
Li2O is the primary target variable.
The assumptions made regarding recovery of by- The only significant by-product to be considered is
products. Ta2O5 which has been estimated within the domains
defined by Li2O.
Estimation of deleterious elements or other non- No deleterious elements have been identified or
grade variables of economic significance (eg. estimated.
sulphur for acid mine drainage characterisation).
Criteria Explanation Commentary
In the case of block model interpolation, the block Block model dimensions used for the Bald Hill Mineral
size in relation to the average sample spacing and Resource estimate were 10 by 10 by 5m (XYZ) sub-
the search employed. celled to 2.5 by 2.5 by 1.25m for resolution of volumes
at lithological boundaries. This compares to an
average drillhole spacing of 20m within the more
densely informed areas of the deposit. This 20m
spacing increases to up to 80m between drillholes in
less well informed portions of the deposit.
Kriging Neighbourhood Analysis (KNA) was conducted
within the SupervisorTM software package to test a
variety of block sizes in both well and poorly informed
areas of the deposit. The chosen block size represents
the smallest block size that yields a robust set of
estimation statistics, which are comparable to the
results also yielded from larger blocks sizes.
Any assumptions behind modelling of selective No assumptions were made regarding selective mining
mining units. units.
Any assumptions about correlation between The two variables under consideration; Li2O and Ta2O5
variables. are uncorrelated within both the pegmatite as a
whole, and within the high-grade domain (correlation
coefficient of -0.04). Consequently, no correlation
between variables was considered. Both variables
were treated in a univariate sense.
Description of how the geological interpretation The nature of the mineralised body is such that the
was used to control the resource estimates. definition of the pegmatite host also defines the
mineralisation. Within that, and based on a
combination of petrogenetic process and statistical
appraisal, an internal high-grade Li2O domain was
defined.
Discussion of basis for using or not using grade Domained data for both variables were assessed using
cutting or capping. histogram and log probability plots to define potential
top cuts to data. Where the Competent Person
observed likely breaks in the continuity of the grade
distributions, a top cut was chosen and applied. This
was conducted on a per-domain basis.
The process of validation, the checking process The results of estimation into the block model for the
used, the comparison of model data to drill hole Bald Hill Mineral resource were validated visually and
data, and use of reconciliation data if available. statistically. Estimated block grades were compared
visually in section against the corresponding input
data values. Additionally, trend plots of input data
and block estimates were compared for swaths
generated in each of the three principal geometric
orientations (northing, easting and elevation).
Moisture Whether the tonnages are estimated on a dry basis Tonnages are reported on a dry basis.
or with natural moisture, and the method of
determination of the moisture content.
Cut-off The basis of the adopted cut-off grade(s) or quality Modelling of mineralisation for the resource was
parameters parameters applied. based on a combination of pegmatite lithological
logging. Within this mineralisation shape, a higher
grade core was defined on the basis of a 7,500 ppm
Li2O cut-off.
The Mineral Resource is reported using a 0.5% Li2O
cut-off which approximates a conservative cut-off
Criteria Explanation Commentary
grade used for potential open pit mining as
determined from preliminary pit optimisations.
Mining factors Assumptions made regarding possible mining The methods used to design and populate the Bald Hill
or assumptions methods, minimum mining dimensions and internal Mineral Resource block model were defined under the
(or, if applicable, external) mining dilution. It is assumption that the deposit is likely to be mined via
always necessary as part of the process of open pit methods.
determining reasonable prospects for eventual
economic extraction to consider potential mining
methods, but the assumptions made regarding
mining methods and parameters when estimating
Mineral Resources may not always be rigorous.
Where this is the case, this should be reported with
an explanation of the basis of the mining
assumptions made.
Metallurgical The basis for assumptions or predictions regarding The material targeted for extraction predominantly
factors or metallurgical amenability. It is always necessary as comprises the mineral spodumene, for which
assumptions part of the process of determining reasonable metallurgical processing methods are well
prospects for eventual economic extraction to established. No specific detail regarding metallurgical
consider potential metallurgical methods, but the assumptions have been applied in the estimation the
assumptions regarding metallurgical treatment current Mineral Resource, however at the current
processes and parameters made when reporting level of detail available, the Competent Person
Mineral Resources may not always be rigorous. believes with sufficient confidence that metallurgical
Where this is the case, this should be reported with concerns will not pose any significant impediment to
an explanation of the basis of the metallurgical eventual economic extraction.
assumptions made.
Environmental Assumptions made regarding possible waste and No assumptions have been made regarding waste
factors or process residue disposal options. It is always products, however the Mineral Resource has
assumptions necessary as part of the process of determining previously been mined by open pit methods with a
reasonable prospects for eventual economic processing facility, stacked waste dumps and tailings
extraction to consider the potential environmental storage facilities on site. It is reasonable to assume
impacts of the mining and processing operation. that in the presence of this infrastructure, the
While at this stage the determination of potential creation and storage of waste products on site will not
environmental impacts, particularly for a be of concern for future mining activities.
greenfields project, may not always be well
advanced, the status of early consideration of
these potential environmental impacts should be
reported. Where these aspects have not been
considered this should be reported with an
explanation of the environmental assumptions
made.
Bulk density Whether assumed or determined. If assumed, the In situ bulk densities for the Bald Hill Mineral Resource
basis for the assumptions. If determined, the have been assigned on a lithological basis for both
method used, whether wet or dry, the frequency mineralisation and waste, based on historical values
of the measurements, the nature, size and derived from mining and values taken from those used
representativeness of the samples. in similar deposits and lithologies.
The Competent Person considers the values chosen to
be suitably representative.
The bulk density for bulk material must have been Densities have been assigned on a lithological basis
measured by methods that adequately account for based on a total of 44 metasediment and 25 pegmatite
void spaces (vugs, porosity, etc), moisture and core samples measured at the Nagrom laboratory and
differences between rock and alteration zones values derived from surrounding deposits and rock
within the deposit. types.
Criteria Explanation Commentary
Discuss assumptions for bulk density estimates Bulk densities have been applied on a lithological unit
used in the evaluation process of the different basis. Values assigned were as follows:
materials. ? Fresh pegmatite mineralisation 2.65 t/m3
? Transitional pegmatite 2.5t/m3
? Fresh diorite 2.8t/m3
? Transitional diorite 2.6t/m3
? Fresh metasediments 2.74t/m3
? Transitional metasediments 2.6t/m3
? Oxide metasediments 2.2t/m3
? Waste fill 1.8t/m3
additional bulk density testwork utilising drill core
across the mineralised zones and less common waste
units is recommended for future estimates.
Classification The basis for the classification of the Mineral The Mineral Resource has been classified as Indicated
Resources into varying confidence categories. and Inferred on a qualitative basis; taking into
consideration numerous factors such as drillhole
spacing, estimation quality statistics (kriging slope of
regression), number of informing samples used in the
estimate, average distance to informing samples in
comparison to the semivariogram model ranges, and
overall coherence and continuity of the modelled
mineralisation wireframes.
Whether appropriate account has been taken of all The classification reflects areas of lower and higher
relevant factors (ie relative confidence in geological confidence in mineralised lithological
tonnage/grade estimations, reliability of input domain continuity based on the intersecting drill
data, confidence in continuity of geology and sample data numbers, spacing and orientation.
metal values, quality, quantity and distribution of Overall mineralisation trends are reasonably
the data). consistent within the various lithology types over
numerous drill sections.
Whether the result appropriately reflects the The Mineral Resource estimate appropriately reflects
Competent Person’s view of the deposit. the Competent Person’s views of the deposit.
Audits or The results of any audits or reviews of Mineral Internal audits were completed by CSA Global which
reviews Resource estimates. verified the technical inputs, methodology,
parameters and results of the estimate.
The current model has not been audited by an
independent third party
Discussion of Where appropriate a statement of the relative The Mineral Resource accuracy is communicated
relative accuracy and confidence level in the Mineral through the classification assigned to the deposit. The
accuracy/ Resource estimate using an approach or procedure Mineral Resource estimate has been classified in
confidence deemed appropriate by the Competent Person. For accordance with the JORC Code, 2012 Edition using a
example, the application of statistical or qualitative approach. All factors that have been
geostatistical procedures to quantify the relative considered have been adequately communicated in
accuracy of the resource within stated confidence Section 1 and Section 3 of this Table.
limits, or, if such an approach is not deemed
appropriate, a qualitative discussion of the factors
that could affect the relative accuracy and
confidence of the estimate.
The statement should specify whether it relates to The Mineral Resource statement relates to a global
global or local estimates, and, if local, state the estimate of in-situ tonnes and grade.
relevant tonnages, which should be relevant to
technical and economic evaluation.
Documentation should include assumptions made
and the procedures used.
Criteria Explanation Commentary
These statements of relative accuracy and The deposit has been historically mined for tantalum
confidence of the estimate should be compared (Ta2O5), however no accounting for Li2O had been
with production data, where available. undertaken, and therefore no production records are
available for comparison to the current estimate.
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