TAW - Tawana - Aquila Resources Announces Milestone Regarding Avontuur Release Date: 30/10/2009 09:44:01 Code(s): TAW
TAW - Tawana - Aquila Resources Announces Milestone Regarding Avontuur
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")
30 October 2009
Aquila Resources Limited (ASX: AQA) in South Africa announces milestone
regarding the Avontuur Manganese Project
Tawana indirect interest 6.76%
Aquila Resources Limited ("Aquila") released the attached announcement to the
ASX on 20 October 2009 regarding the Avontuur Manganese Project passing a
significant milestone in accessing rail and port capacity necessary for its
Tawana Resources NL ("Tawana") advises that it holds 26% equity in Rakana
Consolidated Mining (Proprietary) Limited ("Rakana"), the joint venture partner
of Aquila in South Africa.
Tel: +61 3 9224 1000
ASX RELEASE: AQUILA RESOURCES 20 OCTOBER 2009
AVONTUUR MANGANESE PROJECT QUALIFIES TO PARTICIPATE IN THE EXPORT CAPACITY
ALLOCATION PROCESS IN SOUTH AFRICA
Aquila Resources Limited (ASX: AQA "Aquila" or "the Company") is pleased to
announce that its Avontuur Manganese Project ("Avontuur") has passed a
significant milestone in accessing the rail and port capacity necessary for its
development. Avontuur has been successful in the Long Term Manganese Export
Allocation Process to qualify participants for the Manganese Industry Forum
("MIF") to be established by Transnet Limited.
Aquila has participated in the Long Term Allocation Process, by Transnet Limited
and KPMG to assess future users of the Port Elizabeth manganese rail and port
export corridor, with a view to qualifying for membership of the MIF. This
Forum will discuss the medium to long term expansion alternatives for rail and
port corridors in south Africa, specifically for manganese products.
Participation in the MIF will be crucial component in Aquila`s planned
Feasibility Study for the development of mining, rail, port and marketing
arrangements for Avontuur. It is anticipated that the MIF will determine the
quantum of and process for export rail and port capacity expansion for manganese
ores from the Kalahari Region, with an execution plan to allow new production to
reach markets from 2013.
Participants will be invited to negotiate and conclude contracts with Transnet
for the implementation and funding (if required) of the jointly developed
solution for the provision of rail and port related services by Transnet to the
The Avontuur tenement hosts the Avontuur Manganese Basin, located north of the
Kalahari Manganese Field in the North Cape Province of South Africa (see Figure
1). The tenement currently hosts a JORC Compliant Inferred Resource of 34
million tonnes of manganese oxide ore averaging 40% Mn, as notified to the ASX
on 17 March 2008. A follow-up drilling program is underway, with up to 5
drilling rigs in operation, to increase the tonnage and enhance the grade of
this Resource. An updated Resource Statement is expected during the 1st Quarter
of calendar 2010.
Development options for Avontuur include approximately 25kms of road transport
from the mine site to a rail siding in the Kalahari Manganese Field, for railing
to domestic users or to Port Elizabeth for export.
For further information regarding this announcement, please contact Toni Poli.
Telephone: +61 (08)9423 0111
Facsimile: +61 (08)9423 0133
Email address: firstname.lastname@example.org
Visit us at: www.aquilaresources.com.au
Competent Persons Statement
The information in this announcement, insofar as it relates to Mineral
Exploration activities, is based on information compiled by Brent E Green who is
a member of the Australian Institute of Geoscientists, and who has more than
five years experience in the field of activity being reported on. Mr Green is a
full-time employee of the Company. Mr Green 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 of Reporting of
Exploration Results, Mineral Resources and Ore Reserves`. Mr Green consents to
the inclusion in the report of the matters based on the information in the form
and context in which it appears.
This picture can be found of the Company`s website.
Figure 1 - Location of Avontuur
PricewaterhouseCoopers Corporate Finance (Pty) Ltd
Date: 30/10/2009 09:44:01 Supplied by www.sharenet.co.za
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