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TAWANA RESOURCES NL - Mineral Exploration License Granted and Drilling planned for Q1 2013 at Mofe Creek

Release Date: 21/12/2012 08:30:00      Code(s): TAW       PDF(s):  
Mineral Exploration License Granted and Drilling planned for Q1 2013 at Mofe Creek

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)


Mineral Exploration License Granted and Drilling Planned for Q1 2013
at Mofe Creek

HIGHLIGHTS
* Mineral Exploration License granted
* 2500m of RC drilling planned for Q1 2013
* Drilling contractor secured
* Initial results expected during first quarter


Tawana Resources NL (ASX: TAW) is pleased to announce that it has been granted the Mofe Creek mineral
exploration license by the Ministry of Lands Mines and Energy. The license is granted for an initial 3
year term and extendable for an additional 2 years for a total license period of 5 years.

Len Kolff, MD Tawana Resources Transferring the Mofe Creek Mineral Reconnaissance permit to a Mineral 
Exploration license was a crucial step in advancing the project. Now that the exploration license has 
been granted we can plan to commence drilling in the first quarter of 2013. he said.

The Mofe Creek Project is located within one of Liberias historic premier iron ore mining districts. 
The project is 10km along strike from the abandoned Bomi Hills iron ore mine. Historic production at 
Bomi Hills is estimated by the Government of Liberia at 50Mt of high-grade DSO magnetite lump in addition
to high-grade sinter feed beneficiated from friable iron formation. 
Reconnaissance rock-chip sampling and hand auger drilling on the project has confirmed the presence of DSO
magnetite, hematite and friable iron formation.
The Project is well positioned for possible future infrastructure scenarios; road or rail to the Monrovia 
deep sea port or road to coast and transshipment via barge to deeper water for onward shipment.

Planned Drilling and Timing

The company plans to drill the Koehnko target first where over 5 km strike length of friable iron formation
at average 42% Fe and low contaminants has been defined over 100m to 400m widths. A total of 1800m of RC 
drilling is planned and a drill contractor has been secured.

An additional 700m of RC drilling is planned over the Gofolo Main target where outcropping coarse grained
+45% Fe iron formation has been mapped and sampled over a 3km strike length.

Drilling is planned to commence during the first quarter 2013 with initial results expected during the quarter. 
Access to the project site is good.

[Images removed for Koehnko target auger sampling results by Fe% to date. Background image analytical signal 
aeromagnetics; hotter colors represent more magnetic lithologies and Key target areas and rock chip Fe% assays
over project area.]



Highly Prospective District Geology

[Image removed for Historic Western Cluster iron ore province and associated deposits over regional aeromagnetics
 image.]


The Mofe Creek Project is located within one of Liberias historic premier iron ore mining districts. The project is 
10km along strike from the abandoned Bomi Hills iron ore mine.  Historic production at Bomi Hills is poorly
documented; however estimated historic production by the Government of Liberia is 50Mt of high-grade DSO lump 
magnetite in addition to high-grade beneficiated sinter feed concentrate. DSO magnetite averaged 64.5% Fe, 4.5% SiO2,
1.5% Al2O3 and 0.13% P, of which 53% formed lump material (average 11-37mm) and 47% formed fines (<11mm). Friable
iron formation was beneficiated through Humphrey Spirals and a magnetic separator to produce sinter feed concentrate
averaging 64% Fe, 6% SiO2 and 0.04-0.05% P (Gruss, 1973).

The genesis of the Bomi Hills magnetite deposit is not clearly understood, however, general consensus is that it is
hypogene and represents an itabirite that has come into direct contact with rising gneissic fronts causing enrichment
to coarse massive magnetite by metamorphic differentiation (Gruss, 1973). Magnetite mineralisation is in direct contact 
with gneissic basement and is partially blind.

Infrastructure and Access

The Project is well positioned for possible future infrastructure scenarios; road or rail to the deep water port
of Monrovia or road to coast and transhipment via barge to deeper water for onward shipment. A well-maintained
100km long sealed road exists from the central licence area to the city of Monrovia. In addition to this a 
decommissioned iron ore railway alignment* exists from the Bomi Hills mine to the port of Monrovia; 20km east from
the easternmost magnetic anomaly. Rail distance from Mofe Creek to the port of Monrovia is 65km. Alternatively the 
Project area is approximately 25km from the coast for possible stand-alone haul road construction, trucking and transhipment
via barge to deeper water for on shipment.

[Images removed for Aerial view of Monrovia port looking south-west. Decommissioned railway bridge next to national
highway and License area relative to historic Bomi Hills mine, coast, decommissioned rail alignment, roads and port
of Monrovia.]


For further information please contact:

Tawana Resources (ASX: TAW) 
Lennard Kolff van Oosterwijk
Office: +61 424942589
MAGNUS Investor Relations + Corporate Communication
John Gardner / Dudley White
Tel: +61 8 9212 0101 / + 61 2 8999 1010

Reference: Gruss, H, 1973. Itabirite iron ores of the Liberia and Guyana Shields. In: Genesis of Precambrian iron and
manganese deposits; Proc. Kiev. Symp., 1970 (Earth Sciences 9).

*Footnote: the railway alignment falls under the Western Cluster project currently owned by Elenilto Minerals and Mining
and subject to a Joint Venture with Indias largest producer and exporter of iron ore in the private sector; Sesa Goa.

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 
2004 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.

Sponsor
PricewaterhouseCoopers Corporate Finance (Pty) Ltd

21 December 2012

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