TAW - Tawana Resources NL - Tawana identifies original open cut and two new Release Date: 28/11/2007 08:24:25 Code(s): TAW
TAW - Tawana Resources NL - Tawana identifies original open cut and two new
targets at St Augustines
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")
28 November 2007
Tawana identifies original open cut and two new targets at St Augustines
A non-invasive gravimetric survey has identified the location of the original
pit of the St Augustine`s mine. Two new targets close to St Augustines have also
been identified. The gravimetric survey was undertaken to confirm the exact
position of the known kimberlite and to determine whether other kimberlites
occurred in the Prospecting Right.
The St Augustines mine was thought to be located in the northern half of the
Prospecting Right due west of the world famous Kimberley Mine or "Big Hole" in
Kimberley, South Africa and this has been confirmed. The two new targets are in
the southern half of the Prospecting Right and display similar gravity responses
to that of the known St Augustines kimberlite.
Tawana announced on 27 September 2007 that it had acquired a 30% interest in the
St Augustines kimberlite located 600 metres west of the Big Hole.
The Kimberley Mine produced 14.5 million carats of diamonds from 22.5 million
tonnes at a grade of 64 carats per hundred tonnes. Mining ceased in 1914.
The St Augustines kimberlite was mined in the late 1890`s and records show that
the diamond quality was considered identical and the grade similar to that of
the nearby Kimberley Mine. Geological records indicate that the two kimberlite
pipes of the Kimberley Mine and St Augustines are located on the same structure
and are connected by a kimberlite fissure.
Mining at St Augustines ceased in 1902. Subsequently the tailings of the
Kimberley Mine were deposited over the St Augustines kimberlite. The removal of
these tailings has recently exposed in situ kimberlite at St Augustines. Records
show that St Augustines was only partially mined to a depth of approximately 240
metres as compared to the Kimberley Mine which was mined to a depth of 1097
Commenting on these results Tawana`s Managing Director Wolf Marx said: "The new
discoveries indicate that previous mapping of the geology around the Big Hole
has been incomplete and that the prospectivity of the area has yet to be fully
established and understood."
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"
This article and accompanying images can be viewed on the Company`s website at
South African JSE Limited Sponsor:
PricewaterhouseCoopers Corporate Finance (Pty) Limited
Date: 28/11/2007 08:24:25 Supplied by www.sharenet.co.za
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