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TAWANA RESOURCES NL - Additional Mineralisation defined at Mofe Creek Iron Project, Liberia

Release Date: 25/09/2013 09:22:00      Code(s): TAW       PDF(s):  
Additional Mineralisation defined at Mofe Creek Iron Project, Liberia

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”)

 Additional Mineralisation Defined At Mofe Creek Iron Project, Liberia


   - Additional high-grade itabirite mineralisation discovered at the
      Gofolo North-East (NE) target
   - Mineralisation defined over a 2km strike in hand auger with
      average 32-35% Fe confirmed over 1km strike
   - Assays pending for remaining 1km strike continuation
   - Mineralisation similar to and within 2.5km from high-grade Gofolo
      prospect with demonstrated 40m friable enrichment depth and
      upgradeability to +60% Fe concentrate by simple crushing and
      gravity separation
   - Exploration drilling planned over target


Tawana Resources (ASX: TAW, the ‘Company’) is pleased to announce the
discovery of high-grade itabirite mineralisation over a 2km strike at the Gofolo NE
and within 2.5km from the Gofolo Main prospect; both within its 100% owned Mofe
Creek Iron Ore Project in Liberia.

Len Kolff, Managing Director Tawana Resources said “This adds another exciting
discovery to the Mofe Creek project; given the similarity in mineralisation and
proximity to the Gofolo Main prospect”

“A cluster of high priority prospects is developing within <5km potential trucking
distance from each other with similar high-grade, coarse grained itabirite as
intersected in drilling at Gofolo; providing confidence in a readily beneficiable
+60% Fe product” he said.

Assay results have been received for approximately half the Gofolo NE hand auger
holes as part of the Company’s ongoing regional exploration programme to define
mineralisation footprints for future drilling.

A total of 259 holes have been drilled along the Gofolo NE target with 62 holes
intersecting iron formation; 30 results received to date, 32 results pending in the
north-east and augering ongoing. A friable itabirite footprint over a 2km strike has
been defined at Gofolo NE in addition to high-grade outcropping coarse grained
itabirite similar to the drilled Gofolo main target. Surface auger holes average 32-
35% Fe with individual results up to 41.4% Fe over the south western half of the
anomaly. Assay results are pending for the north-eastern half.

A nine hole RC drill programme on 400x60m spacing has been planned for Gofolo
NE on completion of the resource drilling programme due to commence in the
coming weeks.

The Gofolo NE target is within 2.5km of the Gofolo Main prospect and within <5km
from the Zaway target. These projects all fall within a 4km radius of each other
and completely within the Company’s 100% owned Mofe Creek license.

Assay results for the remaining 1km strike length to the north-east are expected
soon and auger teams have mobilised to the Gofolo Nth magnetic target for infill
auger traverses to define the mineralisation footprint.

The Gofolo NE prospect falls within the Company’s previously reported Global
exploration target size potential of 500Mt of which 90-230Mt is estimated to be
friable itabirite (refer to announcement of 18th March 2013).

Two bulldozers have been mobilised and are currently on site with one preparing
drill pads at the exciting Zaway discovery for the pending RC/HQ drilling program
in the upcoming weeks and a second preparing access to the Gofolo NE target.

Mofe Creek Iron Ore Project, Liberia

The Mofe Creek Project is a new iron ore discovery located 20km from the
coastline and within an historic premier iron ore mining district of Liberia, West

The project hosts a 95Mt high-grade +45% Fe friable itabirite exploration target
within a global exploration target of >500Mt of friable itabirite and intermixed
itabirite/amphibolite. Initial metallurgical test-work completed on representative
samples from the maiden 2,500m reverse circulation drill programme have
confirmed the potential to beneficiate through crushing to 3.35mm only, a +60% Fe product
with low contaminants and 44-57% mass recovery within the itabirite.

Proximity to the coast and positive initial metallurgical test-work results suggests
the potential for a low capital intensity project at low operating costs.
Detailed information on all aspects of Tawana’s projects can be found on the
Company’s website www.tawana.com.au. For further information please contact:

Lennard Kolff van Oosterwijk, Managing Director
Tel: +61 7 35102115, Mob: +61 424942589

Competent Persons Statement
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.

Forward Looking Statement
Statements regarding plans with respect to the Company’s mineral properties, including statements, assumptions and
targets relating to the Preliminary Assessment are forward looking statements. There can be no assurance that the
Company’s plans for development of its mineral properties will proceed as currently expected, nor in accordance with the
Preliminary Assessment. There can also be no assurance that the Company will be able to confirm the presence of a mineral
deposit, that any mineralisation will prove to be economic or that a mine will successfully be developed on any of the
Company’s mineral properties, either in accordance with the Preliminary Assessment or otherwise.

25 September 2013

PricewaterhouseCoopers Corporate Finance (Pty) Ltd

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