TAW - Tawana Resources NL - First Tawana Sample at Riverton, Kimberley District,Release Date: 03/09/2007 07:43:01 Code(s): TAW
TAW - Tawana Resources NL - First Tawana Sample at Riverton, Kimberley District,
South Africa Yields Diamonds
Tawana Resources NL
(Incorporated in Australia)
(Registration number ACN 085 166 721)
Share code on the JSE Limited: TAW
Share code on the Australian Stock Exchange Limited: TAW
("Tawana" or "the Company")
3 September 2007
First Tawana Sample at Riverton, Kimberley District, South Africa Yields
Tawana Resources is pleased to announce that larger than expected diamonds have
been recovered during the first week of processing of the initial bulk sample
collected at the Riverton kimberlite project in South Africa. The Company`s
dense media separation (DMS) plant commenced processing the first of 6 samples
on 23 August 2007.
18 diamonds weighing 9.07 carats have been recovered. These include a 3.12ct
pale yellow diamond, a 1.31ct diamond and a 1.08ct diamond. The average size of
the diamonds is 0.50 carats. This is an unusually large average size for
diamonds from a kimberlite.
To date 232 tonnes of kimberlite has been partially processed. 70 tonnes of this
sample is classified as oversize and still needs to be crushed and re-processed.
Located 25 kilometers north of Kimberley, this project is a joint venture with
Taormina Mining (Pty) Limited ("Taormina"), an unlisted South African company.
The 4 hectare kimberlite pipe, known as the Riverton Mine, is anecdotally
reported to have produced good quality diamonds when it was mined by small scale
diggers during the 1990`s.
The bulk sample is part of a program to process 2000 tonnes of kimberlite from
the Riverton Mine. At the completion of this program Tawana will be entitled to
a 20% interest in the Prospecting Right over the project area. If warranted
Tawana will then process a further 8000 tonnes which will entitle Tawana to a
51% interest. Thereafter Tawana has the option of acquiring an additional 19% by
paying Rand 1.5 million to Taormina.
The diamonds were recovered from the minus 16 mm plus 1.0 mm fractions of
kimberlite sampled. The kimberlite material was processed in the Company`s DMS
plant with diamond recovery by Flowsort x-ray plant and grease table.
Tel: +61 (0)3 98635222
Mob: +61 (0)428 398446
This report is based on information compiled by Wolf Marx BSc, BA, FAusIMM,
CPGeo, Managing Director of Tawana Resources NL. He has sufficient experience
relevant to the style of mineralisation and types of deposits under
consideration, and to the activities undertaken, to qualify as a competent
person as defined in the 2004 edition of the "Australasian Code for the
Reporting of Mineral Resources and Ore Reserves"
All press releases and announcements may be inspected on the Company`s web site,
South African Sponsor to Tawana:
PricewaterhouseCoopers Corporate Finance (Pty) Limited
Date: 03/09/2007 07:43:01 Supplied by www.sharenet.co.za
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