TAWANA RESOURCES NL - High Priority Exploration Targets Delineated at Mofe CreekRelease Date: 29/04/2014 10:30:00 Code(s): TAW PDF(s):
High Priority Exploration Targets Delineated at Mofe Creek
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”)
High-Priority Exploration Targets Delineated at Mofe Creek
PLEASE NOTE: ALL GRAPHICS HAVE BEEN REMOVED FOR SENS PURPOSES. PLEASE REFER TO TAWANA
WEBSITE FOR THE COMPLETE ANNOUNCEMENT
- Multiple iron formation targets delineated by ongoing field programmes near Zaway and
Koehnko main deposits
- Zaway North-West deposit has an approximate 4km combined strike length with an average
head-grade of 31% Fe – as determined from combined rock chip laboratory and hand-held
XRF analysis, representing one of Tawana’s new high-priority targets
- Two additional targets at Koehnko East and Koehnko South with an approximate 3km
combined strike length at an average Fe head-grade of 36% Fe, as determined from
combined rock chip laboratory and hand-held XRF analysis have been confirmed as future
high priority targets
- Only 8km of a potential 65km prospective strike drilled to date; potential exists to significantly
increase the current resource as a consequence of these potential target extension(s)(refer
ASX announcement 31 March 2014)
- All new exploration targets constituted coarse grained and friable itabirite in outcrops, with
similar visual characteristics to the Zaway and Koehnko main deposits, as incorporated in the
Maiden Resource estimate (refer ASX announcement 31 March, 2014)
- Field work continuing at the newly explored Gofolo North-East area; results and analyses
- Metallurgical test work on Gofolo Main and Zaway Main maiden resource estimate core
samples are well advanced; results forecast for release in May
Tawana Resources NL (ASX: TAW) (“Tawana” or “the Company”) is very pleased to announce
results of its ongoing exploration programmes at its 100% owned Mofe Creek Iron Ore Project located
in Grand Cape Mount County, Republic of Liberia, West Africa (“Mofe Creek” or “Mofe Creek Project”
or (“the Project”).
“Low cost field work utilising our in-house team and handheld XRF has allowed the Company to
continue value-add exploration on newly explored satellite targets adjacent to the maiden resource
estimate deposits” Len Kolff, Managing Director of Tawana Resources said.
“Mapping combined with handheld XRF assays have delineated approximately 7 km of additional
potential itabirite strike length with an average in-situ head grade of 31-36% Fe, over multiple targets
adjacent to the Zaway and Koehnko Main deposits” he said.
“Proximity of the newly delineated exploration targets to the existing deposits provides potential to
significantly increase the current resource in future drilling programmes” he said.
“Field teams will continue to delineate and refine exploration targets adjacent to and beyond the
Gofolo Main deposit over the coming weeks” he concluded.
Exploration targets delineated at Zaway and Koehnko:
New Zaway Targets
Ongoing field work has delineated and refined several high priority satellite exploration targets within
1 to 2 km distance of the Zaway and Koehnko Main - maiden resource estimation footprints.
Field work including mapping, structural measurements and rock-chip sampling by handheld XRF
(total of 516 samples analysed to date), in addition to historical rock chip and auger results (refer ASX
announcement 29 May 2013) have been used to delineate and refine highly prospective iron
formation targets within the broader magnetic and topographic trends previously defined.
A total of 4km combined strike length over 9 discrete anomalies has been defined at the Zaway
prospect area, including 2km of discontinuous iron mineralisation along the 3.3km long Zaway North-
West target ridge. Average iron grades in combined handheld XRF (33 samples analysed) and
historic rock chip laboratory assays (11 samples assayed) for the exploration targets defined vary
between 21-57% Fe and are characterised by discrete coarse-grained itabirite outcrops; very similar
to mineralisation intersected in drilling at the Zaway Main deposit (refer ASX announcement 3
New Koehnko Targets
At the newly explored Koehnko targets, mineralisation is typically finer grained than Zaway targets,
with finite and limited outcrops. A total of 3km combined strike length over 5 exploration targets has
been delineated utilising handheld XRF (11 samples analysed) and previously announced hand auger
results (12 samples assayed; refer ASX announcement 29 May 2013) along the eastern and southern
topographic and magnetic target zones. Average in-situ iron head-grades for the exploration targets
vary between 21-49% Fe, from the combined results.
Scoping Study Update
Both metallurgical laboratory and site-based field work is progessing well and within schedule for the
completion of the Mofe Creek Scoping Study. All major consultant groups have advanced their
respective disciplines, and the principles deliverables for the Scoping Study have been defined. The
Study will scope, design and cost the implementation of a two-stage development program, with the
proposed first stage being designed for the production of 1 to 2 Million tonnes per annum (Mtpa) of
final product whilst the second stage (Stage 2) will consider the production of 5 to 10 Mtpa.
Earth Systems in conjunction with EarthCons have completed the high-level Scoping Study
environmental and social overview and are currently scoping the requirements in support of the
Environmental and Social Impact Assessment (ESIA) Application and baseline monitoring data for the
pending Pre-Feasability Study.
Coffey Mining of Perth is currently reviewing geotechnical and hydrological mine design criteria, and
the mine and tailing storage facility design in support of the Scoping Study.
ALS Iron Ore Technical Centre of Perth is finalising the metallurgical test work and characterisation
studies on 10 diamond core composites from the Gofolo and Zaway Main deposits. Test work has
included physical and chemical characterisation, and wet and dry beneficiation test work. Final results
are expected over the coming weeks.
Prestedge Retief Dresner Wijnberg (PRDW) Pty Ltd of South Africa, have completed a desktop
review of barging and transhipment options in support of the Stage 2 – 5 to 10Mtpa production
scenario, whilst Tenova Bateman is well advanced in the plant/site layouts, general arrangements
and major equipment selection associated with the processing and engineering design of both
About Tawana (ASX & JSE: TAW)
Tawana Resources NL is an iron ore focused ASX and JSE-listed Company with its principal project
in Liberia, West Africa. Tawana’s 100% owned Mofe Creek Project is a new discovery in the heart of
Liberia’s historic iron ore district, located 20km from the coast and 80km from the country’s capital city
and major port, Monrovia.
Tawana is committed to becoming a mid-tier iron ore producer through the development of the Mofe
Creek Project, which covers 285km of highly prospective tenements in Grand Cape Mount County.
The Project hosts high-grade friable itabirite mineralisation which can be easily upgraded to a superior
quality iron ore product in the 62-68% Fe grade range, for which there is consistent global demand,
attracting significant price premiums.
The Company has concluded its maiden resource drilling program and is well advanced in the
completion of its Scoping Study on the Mofe Creek Project. The Scoping Study will consider both an
early start-up, low capital cost project with a production rate of 1 to 2 Mtpa, as well as a longer-term
project capable of producing 5 to 10 Mtpa of premium iron ore product.
For further information please contact:
Tel: +61 7 3510 2115
Detailed information on all aspects of Tawana’s projects can be found on the Company’s website
29 April 2014
PricewaterhouseCoopers Corporate Finance (Pty) Ltd
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 2012 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. Information relating to auger results over the Koehnko target was
prepared and first disclosed under JORC Code 2004. It has not been updated since to comply with
the JORC Code 2012 on the basis that the information has not materially changed since it was last
Forward Looking Statement
This report may contain certain forward looking statements and projections regarding estimated,
resources and reserves; planned production and operating costs profiles; planned capital
requirements; and planned strategies and corporate objectives. Such forward looking
statements/projections are estimates for discussion purposes only and should not be relied upon.
They are not guarantees of future performance and involve known and unknown risks, uncertainties
and other factors many of which are beyond the control of Tawana Resources NL. The forward
looking statements/projections are inherently uncertain and may therefore differ materially from
results ultimately achieved.
Tawana Resources NL does not make any representations and provides no warranties concerning
the accuracy of the projections, and disclaims any obligation to update or revise any forward looking
statements/projects based on new information, future events or otherwise except to the extent
required by applicable laws. While the information contained in this report has been prepared in good
faith, neither TAW or any of its directors, officers, agents, employees or advisors give any
representation or warranty, express or implied, as to the fairness, accuracy, completeness or
correctness of the information, opinions and conclusions contained in this presentation. Accordingly,
to the maximum extent permitted by law, none of TAW, its directors, employees or agents, advisers,
nor any other person accepts any liability whether direct or indirect, express or limited, contractual,
tortuous, statutory or otherwise, in respect of, the accuracy or completeness of the information or for
any of the opinions contained in this presentation or for any errors, omissions or misstatements or for
any loss, howsoever arising, from the use of this presentation.
The following extract from the JORC Code 2012 Table 1 is provided for compliance with the Code
requirements for the reporting of Mineral Resources: (CPs: LK Len Kolff; IM Iain Macfarlane)
SECTION 1 SAMPLING TECHNIQUES AND DATA (Criteria in this section apply to all succeeding sections).
Criteria JORC Code Explanation Commentary
Sampling - Nature and quality of sampling (eg cut channels, Rock chip samples were LK
techniques random chips, or specific specialised industry collected in the field from
minerals under investigation, such as down hole boulder float material.
gamma sondes, or handheld XRF instruments, Whole rock chip samples
etc). These examples should not be taken as were analysed by
limiting the broad meaning of sampling. handheld XRF
- Include reference to measures taken to ensure
sample representivity and the appropriate
calibration of any measurement tools or systems
- Aspects of the determination of mineralisation
that are Material to the Public Report.
- In cases where ‘industry standard’ work has
been done this would be relatively simple (eg
‘reverse circulation drilling was used to obtain
1m samples from which 3kg was pulverised to
produce a 30g charge for fire assay’). In other
cases more explanation may be required, such
as where there is coarse gold that has inherent
sampling problems. Unusual commodities or
mineralisation types (eg submarine nodules)
may warrant disclosure of detailed information.
Drilling - Drill type (eg core, reverse circulation, open-hole - No drilling results are reported as LK
techniques hammer, rotary air blast, auger, Bangka, sonic, part of this submission.
etc) and details (eg core diameter, triple or
standard tube, depth of diamond tails, face-
sampling bit or other type, whether core is
oriented and if so, by what method, etc).
Drill - Method of recording and assessing core and - No drilling results are reported as LK
sample chip sample recoveries and results assessed. part of this submission.
recovery - Measures taken to maximise sample recovery
and ensure representative nature of the
- Whether a relationship exists between sample
recovery and grade and whether sample bias
may have occurred due to preferential loss/gain
of fine/coarse material.
Logging - Whether core and chip samples have been - All rock chip samples were LK
geologically and geotechnically logged to a level geologically logged for lithology,
of detail to support appropriate Mineral hardness, grain size, fabric and
Resource estimation, mining studies and where possible dip/dip direction
metallurgical studies. for structural interpretation.
- Whether logging is qualitative or quantitative in
nature. Core (or costean, channel, etc)
- The total length and percentage of the relevant
Sub- - If core, whether cut or sawn and whether - All rock chip samples were dried LK
sampling quarter, half or all core taken. prior to analysis at room
techniques - If non-core, whether riffled, tube sampled, rotary temperature
and split, etc and whether sampled wet or dry. - Blanks and certified reference
sample pre - For all sample types, the nature, quality and materials were inserted every 10th
paration appropriateness of the sample preparation technique. sample.
- No sub sampling techniques
- Quality control procedures adopted for all sub- were carried out on the original
sampling stages to maximise representivity of rock chip sample.
- Measures taken to ensure that the sampling is
representative of the in situ material collected,
including for instance results for field
- Whether sample sizes are appropriate to the
grain size of the material being sampled.
Quality of - The nature, quality and appropriateness of the - Assaying was by handheld XRF LK
assay assaying and laboratory procedures used and instrument Olympus Delta
data and whether the technique is considered partial or Premium GeoChem (Mining
laboratory total. Plus) Analyzer using geochem
tests - For geophysical tools, spectrometers, handheld mode.
XRF instruments, etc, the parameters used in - Reading time was 1 second per
determining the analysis including instrument reading with a total of 4 readings
make and model, reading times, calibrations per sample.
factors applied and their derivation, etc. - The instrument automatically
- Nature of quality control procedures adopted (eg calculated an average grade
standards, blanks, duplicates, external laboratory from the readings per sample.
checks) and whether acceptable levels of - The instrument automatically
accuracy (ie lack of bias) and precision have calibrates on a daily basis.
been established. - Blanks and certified reference
material standards were inserted
every 10th sample and
acceptable levels of accuracy
and precision have been
Verificatio - The verification of significant intersections by - It was noted that handheld XRF LK
n of either independent or alternative company results reported were
sampling personnel. consistently lower when
and - The use of twinned holes. compared with laboratory
assaying - Documentation of primary data, data entry analysis reported previously.
procedures, data verification, data storage The difference was less
(physical and electronic) protocols. pronounced over the Koehnko
- Discuss any adjustment to assay data. satellite prospects which are
typically finer grained than the
Zaway prospects; however, this
may also be a factor of fewer
- No twinned holes are reported
as part of this submission.
- All mapping data is collected
manually in the field and entered
subsequently into excel
spreadsheet mapping and rock
- All handheld XRF data is
collected in the field office and
downloaded from the instrument
to excel spreadsheet.
- No adjustments have been
made to the assay data.
Location - Accuracy and quality of surveys used to locate - All sampling points have been LK
of data drillholes (collar and down-hole surveys), surveyed using handheld GPS
points trenches, mine workings and other locations instrument on WGS 84 UTM
used in Mineral Resource estimation. zone 29N grid system.
- Specification of the grid system used. - No topographic control is
- Quality and adequacy of topographic control. reported as part of this
Criteria JORC Code Explanation Commentary Competent
Data - Data spacing for reporting of Exploration Results. - sampling is defined by the extent LK
spacing - Whether the data spacing and distribution is of outcrop available.
and sufficient to establish the degree of geological - Sampling distribution is
distribution and grade continuity appropriate for the Mineral considered sufficient for reporting
Resource and Ore Reserve estimation of exploration results.
procedure(s) and classifications applied. - No sample compositing has been
- Whether sample compositing has been applied. applied.
Orientation - Whether the orientation of sampling achieves - Sampling orientation is dictated LK
of data unbiased sampling of possible structures and the by presence of outcrop. Where
in relation extent to which this is known, considering the possible, rock chip sampling has
to deposit type. been conducted perpendicular to
geological - If the relationship between the drilling orientation regional strike.
structure and the orientation of key mineralised structures - No drilling results are reported
is considered to have introduced a sampling as part of this submission.
bias, this should be assessed and reported if
Sample - The measures taken to ensure sample security. - All generated pulps have been LK
security securely stored at the project field
Audits or - The results of any audits or reviews of sampling - Sampling techniques and data LK
reviews techniques and data. were regularly reviewed by
internal company staff.
Mineral - Type, reference name/number, location and - MEL12029 is located within the LK
tenement ownership including agreements or material Grand Cape Mount and Bomi
and land issues with third parties such as joint ventures, counties of Liberia and is 100%
tenure partnerships, overriding royalties, native title held by Tawana Liberia Inc, a
interests, historical sites, wilderness or national wholly owned subsidiary of
park and environmental settings. Tawana Resources NL.
- The security of the tenure held at the time of - There are no known
reporting along with any known impediments to impediments or material issues
obtaining a licence to operate in the area. related to security of tenure at
the time of reporting.
Explorati - Acknowledgment and appraisal of exploration - The Mofe Creek project is a LK
on done by other parties. grassroots discovery with no
by other - Deposit type, geological setting and style of previous mineral exploration or
parties mineralisation. other work completed.
- The Mofe Creek project is LK
characterised by a series of
itabirite hosted iron ore deposits
of likely Archean or
Palaeproterozoic age as
possible strike continuations of
the historic Bomi Hills and Bong
- Mineralisation is hosted within
banded iron formations (BIFs)
that have undergone regional
recrystallization to itabirite and
likely additional recrystallization
to coarse grained, coarsely
itabirite as seen today. A
minimum of one and up to three
major itabirite bands are
recognised stratigraphically of
both silicate and oxide iron
formation facies and
interbedded with metasediments
(variably garnet overprinted), Fe
rich mafics and quartzites.
Collectively the iron units and
interbedded metasediments can
be considered a ‘greenstone’
belt that unconformably overlies
- The sequence has been folded
and faulted through at least two
major phases of deformation
increase in average grain size
and potential enrichment of the
- The sequence has then been
subject to intense tropical
weathering causing oxidation of
magnetite to hematite, and
variable hydration to goethite
and limonite within the upper 30-
60m thick weathering profile.
- Some minor faults are
recognised in the Gofolo Main
prospect but are not considered
to have a major influence on the
currently established resource;
they will be incorporated into
resource modelling when further
infill drilling has become
Drillhole - A summary of all information material to the - All relevant information material LK
Informatiom understanding of the exploration results including to the understanding of exploration
a tabulation of the following infrmation for all results has been included within the
Material drillholes: body of the announcement or as
- easting and northing of the drillhole collar appendices.
- elevation or RL (Reduced Level – elevation - No information has been excluded.
above sea level in metres) of the drillhole
- dip and azimuth of the hole
- down hole length and interception depth
- hole length
- If the exclusion of this information is justified on
the basis that the information is not Material and
this exclusion does not detract from the
understanding of the report, the Competent
Person should clearly explain why this is the
Data - In reporting Exploration Results, weighting - Arithmetic averages of iron LK
aggregati averaging techniques, maximum and/or grade were calculated for all
on minimum grade truncations (eg cutting of high rock chip samples occurring
methods grades) and cut-off grades are usually Material within the interpreted iron
and should be stated. formation target footprints.
- Where aggregate intercepts incorporate short - No weighted average grades
lengths of high grade results and longer lengths have been reported.
of low grade results, the procedure used for - No metal equivalent grades
such aggregation should be stated and some have been reported.
typical examples of such aggregations should
be shown in detail.
- The assumptions used for any reporting of metal
equivalent values should be clearly stated.
Relations - These relationships are particularly important in - No drill hole results are reported LK
hip the reporting of Exploration Results. as part of this submission.
between - If the geometry of the mineralisation with - True width of mineralisation is
minerali respect to the drillhole angle is known, its nature not known.
sation should be reported.
widths and - If it is not known and only the down hole lengths
intercept are reported, there should be a clear statement
lengths to this effect (eg ‘down hole length, true width
Diagrams - Appropriate maps and sections (with scales) - All relevant plan maps have LK
and tabulations of intercepts should be included been included in the body of the
for any significant discovery being reported announcement.
These should include, but not be limited to a
plan view of drillhole collar locations and
appropriate sectional views.
Balanced - Where comprehensive reporting of all - Where surface rock chip LK
reporting Exploration Results is not practicable, samples are reported, the total
representative reporting of both low and high number of samples collected,
grades and/or widths should be practiced to the average and a range of
avoid misleading reporting of Exploration assay results have been reported.
Other - Other exploration data, if meaningful and - All relevant regional and LK
substantive material, should be reported including (but not prospect scale geological
exploration limited to): geological observations; geophysical observations and geophysical
data survey results; geochemical survey results; bulk survey results are included in
samples – size and method of treatment; relevant announcements accordingly.
metallurgical test results; bulk density,
groundwater, geotechnical and rock
characteristics; potential deleterious or
Further - The nature and scale of planned further work - Ongoing mapping and rock chip LK
work (eg tests for lateral extensions or depth sampling along additional target
extensions or large-scale step-out drilling). footprints will continue.
- Diagrams clearly highlighting the areas of - Exploration drilling will be
possible extensions, including the main planned along defined
geological interpretations and future drilling exploration targets post
areas, provided this information is not completion of access tracks and
commercially sensitive. assessment of geology exposed
in road cuttings resulting from
Date: 29/04/2014 10:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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