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TAWANA RESOURCES NL - Mineral Resource Update for Bald Hill Lithium and Tantalum Project

Release Date: 11/10/2017 09:06:00      Code(s): TAW       PDF(s):  
Mineral Resource Update for Bald Hill Lithium and Tantalum Project

Tawana Resources NL
(Incorporated in Australia)
(Registration number ACN 085 166 721)
Share code on the JSE Limited: TAW
JSE ISIN: AU0000TAWDA9
Share code on the Australian Securities Exchange Limited: TAW
ASX ISIN: AU000000TAW7
(“the Company” or “Tawana”)


Mineral Resource Update for Bald Hill Lithium and Tantalum Project
PLEASE NOTE: ALL GRAPHICSHAVE BEEN REMOVED FOR SENS PURPOSES. PLEASE REFER TO TAWANA
WEBSITE FOR THE COMPLETE ANNOUNCEMENT.

Tawana Resources NL (Tawana) (ASX:TAW) is pleased to announce an updated Indicated and Inferred
lithium Mineral Resource for the Bald Hill Lithium and Tantalum Project, located in the Eastern Goldfields
region of Western Australia.

Highlights
    -   Total Inferred and Indicated lithium and tantalum resources above 0.5% Li2O or 200pm Ta2O5 total
        25.3 million tonnes (Mt), and comprises:
             o   High-grade lithium resources of 18.9Mt at 1.18% Li2O and 149ppm Ta205 at a 0.5% Li20
                 cut-off; and
             o   Additional tantalum resources of 6.4Mt at 330ppm Ta2O5 at a 200ppm Ta2O5 cut-off.
    -   The Resource update represents a 47% increase in total contained lithium.
    -   The 66% increase in contained lithium within Indicated resources is expected to result in a Reserve
        upgrade later in the year.
    -   The updated Resource covers only 25% of the known southern swarm of lithium pegmatites.
    -   The lithium processing facility is currently in construction, first lithium shipment targeted for Q1
        2018.

Tawana Resources Managing Director Mark Calderwood stated: “The 25Mt of combined high-grade lithium
and tantalum resources represents a solid uplift from about five months of additional drilling. The additional
Indicated Resources are likely to result in additional Reserves based on scoping level pit optimisations
completed in June to focus the resource conversion drilling. Infill drilling is continuing and we expect to
deliver another upgrade to Indicated Resources later this year.
Due to the fact the resource remains open in several areas I look forward to further step out drilling planned
for the new year. Additionally, the recently discovered high grade lithium and tantalum pegmatite located
below the starter pit (refer announcement dated 2 August 2017), has not been included in the resource due
to insufficient drilling.”
Mineral Resource Estimate

CSA Global Pty Ltd (“CSA Global”) was commissioned by Tawana to update the lithium and tantalum Mineral
Resource estimate for the Bald Hill Project.

The Bald Hill Pegmatite Mineral Resource comprises one large, main, sub horizontal pegmatite body,
striking north-south, with a strike length of 1,230 metres, and a width at its widest point of 1,080 metres.
This main body is surrounded by several smaller discrete pegmatite bodies, sub-parallel to the main, which
result in a total strike length for the whole resource of 2,045 metres, and a total width of 1,800 metres. The
Mineral Resource has a total vertical depth of 245 metres, beginning 20 metres below the natural surface
and plunging gently to the south along its entire strike length.

The Mineral Resource has been classified as Indicated and Inferred in accordance with the JORC Code, 2012
Edition on a qualitative basis; taking into consideration numerous factors including drill holes spacing,
estimation quality statistics (kriging slope of regression), number of informing samples, average distance to
informing samples in comparison to the semi-variogram model ranges, and overall coherence and
continuity of the modelled mineralisation wireframes. All factors that have been considered have been
included in Section 1 and Section 3 of Appendix A.

Table 1 | Bald Hill Project, Resources above 0.5% Li2O cut-off
                                            Grade             Contained               Grade         Contained
     Resource             Tonnes
                                             Li2O               Li2O                  Ta2O5            Ta205
     Category              (Mt)
                                              %                Tonnes                  ppm          (,000) Lbs
     Indicated              8.0              1.18              95,000                  190             2,800
      Inferred             10.9              1.18              128,300                 118           2,300
       Total               18.9              1.18              223,300                 149           5,100


Table 2 | Bald Hill Project, Resources above 0.5% Li2O and 200ppm Ta2O5 cut-offs
     Resource             Tonnes            Grade             Contained               Grade         Contained
     Category              (Mt)              Li2O               Li2O                  Ta2O5            Ta205
                                              %                Tonnes                  ppm          (,000) Lbs
     Indicated              2.5              1.20              33,300                  315           1,900
      Inferred              1.2              1.18              14,500                  296            800
       Total                4.0              1.20              47,800                  309           2,700
Note
 1) The tantalum resources form part of the lithium/tantalum resources reported in Table 1.


Table 3 | Bald Hill Project, Resources below 0.5% Li2O and above 200ppm Ta2O5 cut-offs
     Resource             Tonnes             Grade            Contained
     Category              (Mt)              Ta2O5               Ta205
                                              ppm             (,000) Lbs
     Indicated              3.9               342                1,700
      Inferred              2.5               313                2,950
       Total                6.4               330                4,650
Note
1) The tantalum resources reported in Table 3 are additional to those reported in Tables 1 and 2.
About the Bald Hill Project

The Bald Hill Lithium and Tantalum Mine (Bald Hill Mine or the Project) is owned by Singapore Exchange-
listed Alliance Mineral Assets Limited (AMAL), with ASX-listed Tawana Resources NL (Tawana) holding 50%
of the lithium rights. The project is subject to a 50% earn-in to existing infrastructure and tantalum rights
by Tawana through the expenditure of A$12.5m on development costs. Following the 50% earn-in by
Tawana, a new Joint Venture will become effective and the Work Program and Budget for remaining project
expenditure in excess of the A$12.5m will be subject to Joint Venture approval.

A Pre-Feasibility Study (PFS) finalised in July 2017 confirmed the technical and financial viability of a low
capital cost 1.2Mtpa lithium Dense Media Separation circuit (DMS) adjacent to the existing tantalum
processing facility (TPF) at Bald Hill.

The first shipment of lithium concentrate is scheduled for March 2018.

EPC Group Primero mobilised to the Bald Hill Mine in July 2017 and construction work commenced, with
foundations completed and steel work being erected.

Each of Tawana and AMAL executed an offtake agreement in April 2017 for the supply of lithium
concentrate from Bald Hill over a five-year term with pricing for 2018 and 2019 of US$880/t (FOB
Esperance) for 6% Li2O. The prepayments from the aforesaid offtake agreement will be used towards the
capital costs of the Project. AMAL had on 2 October 2017 entered into a Binding Term Sheet to inter alia,
vary certain terms of its offtake agreement entered into in April 2017.

The Project is located 50km south east of Kambalda in the Eastern Goldfields of Western Australia. It is
located approximately 75km south east of the Mt Marion Lithium project.

The Project comprises four mining leases, one mining lease application, twelve exploration licenses, eight
prospecting licenses and one general purpose lease totalling 790.1km.

Prior Indicated and Inferred lithium Mineral Resources were 12.8 million tonnes at 1.18% Li2O, and 158ppm
Ta205 at a 0.5% Li2O cut-off for the Project and Reserves currently stand at 4.3Mt at 1.18% Li2O and 208ppm
Ta205, representing a 94% conversion of the June 2017 Indicated Resources above 0.5% Li2O cut-off1. The
Project remains significantly underexplored as highlighted by significant exploration drill results post the
June resource statement.

ASX Listing Rule 5.8.1 Compliance

Geology and Geological Interpretation

The Bald Hill area is underlain by generally north-striking, steeply dipping Archaean metasediments (schists
and greywackes) and granitoids. Felsic porphyries and pegmatite sheets and veins have intruded the
Archaean rocks. Generally, the pegmatites cross cut the regional foliation, occurring as gently dipping
sheets and as steeply dipping veins.

The pegmatites vary in width and are generally comprised quartz-albite- muscovite-spodumene in varying
amounts. Late-stage albitisation in the central part of the main outcrop area has resulted in fine- grained,
banded, sugary pegmatites with visible fine-grained, disseminated tantalite. A thin hornfels characterised
by needle hornblende crystals is often observed in adjacent country rocks to the pegmatite intrusives.
Tantalite generally occurs as fine disseminated crystals commonly associated with fine-grained albite zones,
or as coarse crystals associated with cleavelandite.

The geological model developed is based on lithological logging of pegmatites within a metasedimentary
host, with occasional hypabyssal intrusions of dioritic composition.

The pegmatites on which this Mineral Resource was defined were domained internally on the basis of a
7,500ppm Li2O cut-off, which itself was determined from exploratory data analysis as a point of inflection
within the Li2O grade distribution. This resulted in a high-grade core of Li2O mineralisation surrounded by
lower grade pegmatite, and is an interpretation supported by the petrogenetic model for the formation of
Li2O bearing pegmatites.

Drilling Techniques

Drilling supporting the Mineral Resource is predominately Reverse Circulation (RC) with minor diamond
core drilling (DD) and RC with diamond core tails (RCD). The Bald Hill deposit database includes 902 drill
holes for 92,217.49m of drilling, made up of 873 RC holes (87,193.2m), 17 RCD holes (3,773.85m) and 12
DD holes (1,250.44m). The Mineral Resource is based on assay data from 475 RC holes, 17 RCD holes and
12 DD holes.

All historical holes drilled by Haddington Resources Limited (Haddington) were removed from the estimated
as they were only assayed for tantalum. Some recent drilling undertaken by Tawana has been excluded
where collar and/or down hole surveys have not been completed, and where final assay results have not
been received.

Drilling has been angled to achieve the most representative intersections through mineralisation. All
diamond drill holes and approx. 98% of RC drill holes are angled. The remaining holes have been drilled
vertically. Drilling has been conducted on a 40m by 40m grid extending to 80m by 80m on the peripheries
of the deposit, with a 140m by 80m area in the northern portion of the deposit drilled out at 20m by 20m.
Sampling Techniques

RC cuttings were continuously sampled at 1m intervals from the collar to the end of each drill hole using a
riffle or cone splitter on-site to produce a subsample less than 5kg.
DD core was typically continuously sampled at 2m intervals from the collar to the end of hole. Where
required by changes in lithology, mineralisation or alteration, core samples may be shorter or longer than
the typical 2m. Core was cut into half with one half sent for analysis and the other half stored in the core
library at the project site.

Sample Analysis Method

Drill samples were jaw crushed and riffle split to 2-2.5kg for pulverizing to 80% passing 75 microns. Prepared
samples are fused with sodium peroxide and digested in dilute hydrochloric acid. The resultant solution is
analysed by ICP, by Nagrom Laboratory in Perth.

The assay technique is considered to be robust as the method used offers total dissolution of the sample
and is useful for mineral matrices that may resist acid digestions.
Standards and duplicates were submitted in varying frequency throughout the exploration campaign and
internal laboratory standards, duplicates and replicates are used for verification.

Estimation Methodology

The Bald Hill MRE uses a Surpac block model dimensions with parent cells of 10m by 10m by 5m (XYZ) sub-
celled to 2.5 by 2.5 by 1.25m for resolution of volumes at lithological boundaries. This compares to an
average drillhole spacing of 20m within the more densely informed areas of the deposit. Kriging
Neighbourhood Analysis (KNA) was conducted within the SupervisorTM software package to test a variety
of block sizes across the deposit.

Samples were composited to 1m intervals based on assessment of the raw drill hole sample intervals.
Various high grade cuts were used for both Li2O and Ta2O5 based on statistical review of each object.
Li2O and Ta2O5 grades for the main mineralised zones were interpolated using ordinary kriging. High and
low grade domains were estimated independently with hard boundaries assumed between domains. A two
search pass strategy was employed, with successive searches using more relaxed parameters for selection
of input composite data, and a greater search radius. Blocks not informed for any given variable after two
passes were assigned the Sichel Mean of the input data from that particular domain.

In situ bulk densities for the Bald Hill Mineral Resource have been assigned on a lithological basis for both
mineralisation and waste, based 69 cores samples and values taken from those used in similar deposits and
lithologies. Fixed density values assigned into the block model included waste back-fill to 1.8t/m3,
transitional pegmatite to 2.5t/m3, fresh metasediment waste to 2.74t/m3, fresh diorite dykes to 2.8t/m3
and fresh pegmatite to 2.65t/m3. Additional bulk density analysis is being undertaken utilising DD core.

The resource model was validated both visually and statistically prior to final reporting.

Cut-off Grades

The Bald Hill MRE pegmatite wireframes were generated using logged pegmatite lithologies and a minimum
down hole width of 3m, while the internal ‘high grade’ lithium wireframes were generated using a nominal
7,500ppm cut-off grade and a minimum down hole width of 3m determined from exploratory data analysis
as a point of inflection within the Li2O grade distribution.

The Mineral Resource is reported above a 0.5% Li2O cut-off (Table 1), which approximates cut-off grade to
be applied to run-of-mine ore as determined from the preliminary feasibility study.

Mineral Resource Classification

The Mineral Resource has been classified in the Indicated and Inferred categories, taking into consideration
numerous factors including drillholes spacing, estimation quality statistics (kriging slope of regression),
number of informing samples, average distance to informing samples in comparison to the semivariogram
model ranges, and overall coherence and continuity of the modelled mineralisation wireframes.

Eventual Economic Extraction

The Bald Hill pegmatite deposit has previously been mined for minerals of tantalum pentoxide (Ta2O5),
however no account for lithium minerals (Li2O) was undertaken. A positive pre-feasibility study undertaken
by Tawana reported that the deposit could be mined economically for lithium via open pit methods. The
lithium plant is currently in construction, with first production expected in the first quarter of 2018.

Competent Persons Statement

The information in this news release that relates to Exploration Results is based on and fairly represents information and supporting
documentation compiled by Mr Mark Calderwood and Mr Gareth Reynolds, both employees of Tawana Resources NL (“Tawana”). Mr
Calderwood is a member of The Australasian Institute of Mining and Metallurgy and Mr Reynolds is a member of the Australian Institute
of Geoscientists. Mr Calderwood and Mr Reynolds have sufficient experience relevant to the style of mineralisation under consideration
and to the activity which they are 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”. Mr Calderwood and Mr Reynolds consent to the inclusion in
this report of the matters based on their information in the form and context in which it appears.
Mr Calderwood is a significant shareholder in Tawana. Mr Calderwood and Tawana do not consider these to constitute a potential conflict
of interest to his role as Competent Person. Mr Calderwood is not aware of any other relationship with Tawana which could constitute a
potential for a conflict of interest.

Mr Reynolds is an employee of Tawana. Mr Reynolds is not aware of any other relationship with Tawana which could constitute a potential
for a conflict of interest.

The information in this news release that relates to Resource Estimates (excluding prior estimates) is based on and fairly represents
information and supporting documentation compiled by Dr Matthew Cobb and Mr Ralph Porter, both employees of CSA Global Pty Ltd.
Dr Cobb is a member of both The Australasian Institute of Mining and Metallurgy and Australian Institute of Geoscientists, and Mr Porter
is a member of the Australian Institute of Geoscientists. Both Dr Cobb and Mr Porter have sufficient experience relevant to the style of
mineralisation under consideration and to the activity which they are 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”. Dr Cobb and Mr Porter
consent to the inclusion in this report of the matters based on their information in the form and context in which it appears.

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 as representation or warranty,
express or implied, of Tawana Resources NL. 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 Tawana Resources NL nor 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 Tawana Resources NL, 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 announcement or
for any errors, omissions or misstatements or for any loss, howsoever arising, from the use of this announcement.
Notes

1. Refer to ASX announcement on 14 June 2017.


11 October 2017

Sponsor
PricewaterhouseCoopers Corporate Finance (Pty) Limited


Appendix A
Section 1 Sampling Techniques and Data

  Criteria     JORC Code Explanation                                   Commentary
  Sampling     Nature and quality of sampling (e.g. cut channels,      Drilling consists of ~99% reverse circulation (RC), RC with
  techniques   random chips, or specific specialised industry          diamond core tails (RCD) and diamond drilling (DD) for a
               standard measurement tools appropriate to the           total 902 holes for 92,217.49m of drilling in the Bald Hill
               minerals under investigation, such as down hole         project database. The Bald Hill Mineral Resource is based
               gamma sondes, or handheld XRF instruments,              on assay data from 475 RC holes, 17 RCD holes and 12 DD
               etc.). These examples should not be taken as            holes.
               limiting the broad meaning of sampling.
                                                                       RC cuttings were continuously sampled at 1m intervals
                                                                       through all pegmatite intercepts including 2m of waste
                                                                       above and below each intercept.

                                                                       DD core is typically continuously sampled at 2m intervals
                                                                       through pegmatite intercepts. Where required by changes
                                                                       in lithology, mineralization, or alteration, core samples may
                                                                       be shorter or longer than the typical 2m.

               Include reference to measures taken to ensure           The majority of drill hole collars are accurately surveyed
               sample representivity and the appropriate               using RTK DGPS equipment.
               calibration of any measurement tools or systems
                                                                       Drill samples are logged for lithology, weathering, structure
               used.
                                                                       (diamond core), mineralogy, mineralisation, colour and
                                                                       other features.

                                                                       Half diamond core was collected and placed in marked
                                                                       plastic sacks, and shipped to the assay laboratory.

                                                                       RC samples were collected and placed in marked plastic
                                                                       bags which were placed in sacks and then shipped to the
                                                                       assay laboratory.

               Aspects of the determination of mineralisation          Drill samples were jaw crushed and riffle split to 2-2.5kg for
               that are Material to the Public Report. In cases        pulverizing to 80% passing 75 microns. Prepared samples
               where ‘industry standard’ work has been done            are fused with sodium peroxide and digested in dilute
               this would be relatively simple (e.g. ‘reverse          hydrochloric acid. The resultant solution is analysed by ICP,
               circulation drilling was used to obtain 1 m samples     by Nagrom Laboratory in Perth.
               from which 3 kg was pulverised to produce a 30 g
                                                                       The assay technique is considered to be robust as the
               charge for fire assay’). In other cases more
                                                                       method used offers total dissolution of the sample and is
               explanation may be required, such as where there
                                                                       useful for mineral matrices that may resist acid digestions.
               is coarse gold that has inherent sampling
               problems.         Unusual      commodities       or
               mineralisation types (e.g. submarine nodules)
               may warrant disclosure of detailed information.

  Drilling     Drill type (e.g. core, reverse circulation, open-hole   RC was drilled using 4.5-inch (140 mm) rods with a nominal
  techniques   hammer, rotary air blast, auger, Bangka, sonic,         5.9-inch (150 mm) diameter hole. Diamond core used either
               etc.) and details (e.g. core diameter, triple or        PQ, NQ2 or HQ3 diameter core. Core was oriented where
               standard tube, depth of diamond tails, face-            possible.
               sampling bit or other type, whether core is
                                                                       All DD holes and ~98% of RC drill holes are angled; the
               oriented and if so, by what method, etc.).
                                                                       remainder were drilled vertically.
Criteria         JORC Code Explanation                                Commentary
Drill sample     Method of recording and assessing core and chip      Chip recovery or weights for RC drilling were not recorded.
recovery         sample recoveries and results assessed.              Core recovery is very good through the mineralised zones
                                                                      and estimated to be greater than 90%.

                 Measures taken to maximise sample recovery and       RC drilling generally utilised an external booster to keep
                 ensure representative nature of the samples.         samples dry and maximising recoveries. The majority of RC
                                                                      holes are shallow (<150m) with very few wet samples
                                                                      encountered.

                 Whether a relationship exists between sample         No relationship between grade and recovery has been
                 recovery and grade and whether sample bias may       identified.
                 have occurred due to preferential loss/gain of
                 fine/coarse material.

Logging          Whether core and chip samples have been              Geological logs exist for all drill holes with lithological codes
                 geologically and geotechnically logged to a level    via an established reference legend.
                 of detail to support appropriate Mineral Resource
                                                                      Drill samples were logged for lithology, weathering,
                 estimation, mining studies and metallurgical
                                                                      structure (diamond core), mineralogy, mineralisation,
                 studies.
                                                                      colour and other features. Logging and sampling has been
                                                                      carried out to “industry norms” to a level sufficient to
                                                                      support the Mineral Resource estimate.

                 Whether logging is qualitative or quantitative in    Drill holes have been geologically logged in their entirety.
                 nature. Core (or costean, channel, etc.)             Where logging was detailed, the subjective indications of
                 photography.                                         spodumene content were estimated and recorded.

                 The total length and percentage of the relevant      All drill holes are logged in full, from start to finish of the
                 intersections logged.                                hole.

Sub-sampling     If core, whether cut or sawn and whether quarter,    Where sampled, core is cut in half onsite using an industry
techniques       half or all core taken.                              standard core saw, to produce two identical halves.
and sample
preparation
                 If non-core, whether riffled, tube sampled, rotary   Dry RC samples were collected at 1m intervals and riffle or
                 split, etc. and whether sampled wet or dry.          cone split on-site to produce a subsample less than 5kg.

                 For all sample types, the nature, quality and        Sample preparation is according to industry standard,
                 appropriateness of the sample preparation            including oven drying, coarse crush, and pulverisation to
                 technique.                                           80% passing 75 microns.

                 Quality control procedures adopted for all sub-      Subsampling is performed during the preparation stage
                 sampling stages to maximise representivity of        according to the assay laboratories’ internal protocol.
                 samples.

                 Measures taken to ensure that the sampling is        Field duplicates, laboratory standards and laboratory
                 representative of the in situ material collected,    repeats are used to monitor analyses.
                 including for instance results for field
                 duplicate/second-half sampling.

                 Whether sample sizes are appropriate to the grain    Sample sizes are considered to be appropriate and correctly
                 size of the material being sampled.                  represent the style and type of mineralisation.

Quality of       The nature, quality and appropriateness of the       The assay technique is considered to be robust as the
assay data and   assaying and laboratory procedures used and          method used offers total dissolution of the sample and is
laboratory       whether the technique is considered partial or       useful for mineral matrices that may resist acid digestions.
tests            total.
Criteria          JORC Code Explanation                                Commentary
                  For geophysical tools, spectrometers, handheld       None were used.
                  XRF instruments, etc., the parameters used in
                  determining the analysis including instrument
                  make and model, reading times, calibrations
                  factors applied and their derivation, etc.

                  Nature of quality control procedures adopted         Standards and duplicates were submitted in varying
                  (e.g. standards, blanks, duplicates, external        frequency throughout the exploration campaign and
                  laboratory checks) and whether acceptable levels     internal laboratory standards, duplicates and replicates are
                  of accuracy (i.e. lack of bias) and precision have   used for verification.
                  been established.

Verification of   The verification of significant intersections by     Significant intersections have been verified by alternative
sampling and      either independent or alternative company            TAW personnel and by CSA Global Competent Persons
assaying          personnel.                                           (Ralph Porter and Matthew Cobb).

                                                                       The Ta and Li assays show a marked correlation with the
                                                                       pegmatite intersections via elevated downhole grades.

                  The use of twinned holes.                            Twinning of holes undertaken to date show reasonable
                                                                       continuity and representivity of the mineralised intervals.

                  Documentation of primary data, data entry            Drill logs exist for all holes as electronic files and/or
                  procedures, data verification, data storage          hardcopy (all 2017 logging has been input directly to field
                  (physical and electronic) protocols.                 logging computers).

                                                                       Digital log sheets have been created with inbuilt validations
                                                                       to reduce potential for data entry errors.

                                                                       All drilling data has been loaded to a database and validated
                                                                       prior to use.

                  Discuss any adjustment to assay data.                For the Mineral Resource estimate, adjustments were
                                                                       made to a number of down hole surveys. These
                                                                       adjustments were made where angled holes were blocked
                                                                       well before the end of hole, or where down hole surveys
                                                                       had not yet been undertaken but surveys had been
                                                                       completed for nearby holes.

                                                                       Where the drill hole was blocked, the last survey was copied
                                                                       to the end of hole depth. Where no down hole survey was
                                                                       completed or the hole was blocked at surface, the down
                                                                       hole surveys from a nearby hole, drilled by the same rig (and
                                                                       preferably same driller), was copied and applied to the hole.
                                                                       Some of these holes may need to be re-entered, cleaned
                                                                       and surveyed in the future. All changes were marked as
                                                                       ‘nominal’ in the database.

                                                                       In all cases, corrections to down hole surveys were
                                                                       reviewed against surrounding drill holes and pegmatite
                                                                       intervals to ensure error was minimised.

Location of       Accuracy and quality of surveys used to locate       Prior to drilling, collar coordinates are situated using hand
data points       drill holes (collar and down-hole surveys),          held GPS (considered accurate to within 4m). Following
                  trenches, mine workings and other locations used     drilling, accurate surveying using RTK DGPS is undertaken
                  in Mineral Resource estimation.                      by trained site personnel.
Criteria         JORC Code Explanation                                  Commentary
                                                                        Hole collars are preserved until completion of down hole
                                                                        surveying. A significant portion of holes are surveyed down
                                                                        hole digital instruments dominated by gyro tools.

                 Specification of the grid system used.                 Grid used is MGA 94 Zone 51.

                 Quality and adequacy of topographic control.           Topographical survey is generated from detailed airborne
                                                                        survey with points generated on a 1m by 1m grid. Areas
                                                                        mined have been defined by final mine surveys.

Data spacing     Data spacing for reporting of Exploration Results.     Drilling has been conducted on a 40m by 40m grid
and                                                                     extending to 80m by 80m on the peripheries of the deposit,
distribution                                                            with a 140m by 80m area in the northern portion of the
                                                                        deposit drilled out at 20m by 20m.

                 Whether the data spacing and distribution is           The spacing of holes is considered of sufficient density to
                 sufficient to establish the degree of geological and   provide an ‘Indicated’ or ‘Inferred’ Mineral Resource
                 grade continuity appropriate for the Mineral           estimation and classification under JORC (2012).
                 Resource and Ore Reserve estimation
                 procedure(s) and classifications applied.

                 Whether sample compositing has been applied.           There has been no sample compositing.

Orientation of   Whether the orientation of sampling achieves           Drilling has been angled to achieve the most representative
data in          unbiased sampling of possible structures and the       intersections through mineralisation.
relation to      extent to which this is known, considering the
                                                                        The majority of drilling is angled. Some vertical holes have
geological       deposit type.
                                                                        been drilled in areas where access is limited or the
structure
                                                                        pegmatites are interpreted to be flat lying.

                 If the relationship between the drilling               The lithium tantalite-bearing pegmatites are generally flat
                 orientation and the orientation of key mineralised     to shallowly dipping in nature. The true width of pegmatites
                 structures is considered to have introduced a          is generally considered 80-95% of the intercept width, with
                 sampling bias, this should be assessed and             minimal opportunity for sample bias.
                 reported if material.

Sample           The measures taken to ensure sample security.          The drill samples are taken from the rig by experienced
security                                                                personnel, stored securely and transported to the
                                                                        laboratory by a registered courier and handed over by
                                                                        signature.

Audits or        The results of any audits or reviews of sampling       No audits have been undertaken to date.
reviews          techniques and data.
Section 2 Reporting of Exploration Results

  Criteria        Explanation                                           Commentary

  Mineral         Type, reference name/number, location and             The Bald Hill Resource is situated on Mining leases
  tenement and    ownership including agreements or material            M15/400, R15/01 and E15/1212 comprising 4,339Ha. The
  land tenure     issues with third parties such as joint ventures,     tenements are 100% owned by Australian incorporated,
  status          partnerships, overriding royalties, native title      Singapore Exchange listed Alliance Mineral Assets Limited
                  interests, historical sites, wilderness or national   (AMAL).
                  park and environmental settings.
                                                                        The Mining lease are subject to an earn-in agreement
                                                                        between AMAL and Tawana Resources Limited.

                                                                        There are no other third-party interests or royalties.
                                                                        Government royalties are 5% for Lithium or Tantalum
                                                                        mineral concentrates.

                  The security of the tenure held at the time of        The portfolio of mineral tenements, comprising mining
                  reporting along with any known impediments to         leases, exploration licences, prospecting licences,
                  obtaining a licence to operate in the area.           miscellaneous licences, a general-purpose lease, and a
                                                                        retention lease are in good standing.

  Exploration     Acknowledgment and appraisal of exploration by        Alluvial tantalite has been mined periodically from the early
  done by other   other parties.                                        1970s.
  parties
                                                                        Gwalia Consolidated Limited undertook exploration for
                                                                        tantalite-bearing pegmatites from 1983-1998. Work
                                                                        included mapping, costeaning, and several phases of drilling
                                                                        using RAB, RC, and diamond methods. The work identified
                                                                        mineral resources that were considered uneconomic at the
                                                                        time.

                                                                        Haddington Resources Limited (Haddington) entered
                                                                        agreement to develop the resource and mining
                                                                             -    commenced in 2001 and continued until 2005.
                                                                             -    Haddington continued with exploration until
                                                                                  2009.
                                                                        Living Waters acquired the project in 2009 and continued
                                                                        with limited exploration to the north of the main pit area.

  Geology         Deposit type, geological setting and style of         The Bald Hill area is underlain by generally north-striking,
                  mineralisation.                                       steeply dipping Archaean metasediments (schists and
                                                                        greywackes) and granitoids.

                                                                        Felsic porphyries and pegmatite sheets and veins have
                                                                        intruded the Archaean rocks. Generally, the pegmatites
                                                                        cross cut the regional foliation, occurring as gently dipping
                                                                        sheets and as steeply dipping veins.

                                                                        The pegmatites vary in width and are generally comprised
                                                                        quartz-albite- muscovite-spodumene in varying amounts.
                                                                        Late-stage albitisation in the central part of the main
                                                                        outcrop area has resulted in fine- grained, banded, sugary
                                                                        pegmatites with visible fine-grained, disseminated
                                                                        tantalite. A thin hornfels characterised by needle
                                                                        hornblende crystals is often observed in adjacent country
                                                                        rocks to the pegmatite intrusives. Tantalite generally occurs
                                                                        as fine disseminated crystals commonly associated with
Criteria         Explanation                                            Commentary
                                                                        fine-grained albite zones, or as coarse crystals associated
                                                                        with cleavelandite.

                                                                        Weathering of the pegmatites yields secondary mineralised
                                                                        accumulations in alluvial/elluvial deposits.

Drill hole       A summary of all information material to the           Not Applicable – Not reporting exploration results.
Information      understanding of the exploration results including
                 a tabulation of the following information for all
                 Material drill holes:
                      • easting and northing of the drill hole
                        collar
                      • elevation or RL (Reduced Level –
                        elevation above sea level in metres) of
                        the drill hole collar
                      • dip and azimuth of the hole
                      • down hole length and interception depth
                      • hole length.

                 If the exclusion of this information is justified on   Not Applicable – Not reporting exploration results.
                 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 case.

Data             In reporting Exploration Results, weighting            Not Applicable – Not reporting exploration results.
aggregation      averaging   techniques,    maximum      and/or
methods          minimum grade truncations (e.g. cutting of high
                 grades) and cut-off grades are usually Material
                 and should be stated.

                 Where aggregate intercepts incorporate short           Not Applicable – Not reporting exploration results.
                 lengths of high grade results and longer lengths of
                 low grade results, the procedure used for such
                 aggregation should be stated and some typical
                 examples of such aggregations should be shown
                 in detail.

                 The assumptions used for any reporting of metal        Not Applicable – Not reporting exploration results.
                 equivalent values should be clearly stated.

Relationship     These relationships are particularly important in      Not Applicable – Not reporting exploration results.
between          the reporting of Exploration Results.
mineralisation
                 If the geometry of the mineralisation with respect     The majority of drilling is angled. Some vertical holes have
widths and
                 to the drill hole angle is known, its nature should    been drilled in areas where access is limited or the
intercept
                 be reported.                                           pegmatites are interpreted to be flat lying.
lengths
                                                                        The lithium tantalite-bearing pegmatites are generally flat
                                                                        to shallowly dipping in nature. The true width of pegmatites
                                                                        are generally considered 85-95% of the intercept width,
                                                                        with minimal opportunity for sample bias.

                 If it is not known and only the down hole lengths      Not Applicable – Not reporting exploration results.
                 are reported, there should be a clear statement to
                 this effect (e.g. ‘down hole length, true width not
                 known’).
Criteria       Explanation                                           Commentary

Diagrams       Appropriate maps and sections (with scales) and       Not Applicable – Not reporting exploration results
               tabulations of intercepts should be included for
               any significant discovery being reported These
               should include, but not be limited to a plan view
               of drill hole collar locations and appropriate
               sectional views.

Balanced       Where comprehensive reporting of all                  Not Applicable – Not reporting exploration results
reporting      Exploration Results is not practicable,
               representative reporting of both low and high
               grades and/or widths should be practiced to avoid
               misleading reporting of Exploration Results.

Other          Other exploration data, if meaningful and             The metallurgical test work for spodumene referred to in
substantive    material, should be reported including (but not       the release was undertaken by Nagrom. Nagrom has
exploration    limited to): geological observations; geophysical     extensive experience with tantalum and lithium extraction
data           survey results; geochemical survey results; bulk      testwork and has ISO9001:2008 accreditation. Results
               samples – size and method of treatment;               have been reported without interpretation.
               metallurgical test results; bulk density,
               groundwater,       geotechnical     and     rock
               characteristics;   potential    deleterious    or
               contaminating substances.

Further work   The nature and scale of planned further work (e.g.    Further RC and diamond drilling is warranted at the deposit
               tests for lateral extensions or depth extensions or   to explore for additional resources and improve the
               large-scale step-out drilling).                       understanding of the current resources prior to mining.



               Diagrams clearly highlighting the areas of possible   Diagrams have been included in the body of this report.
               extensions, including the main geological
               interpretations and future drilling areas, provided
               this information is not commercially sensitive.

Section 3 Estimation and Reporting of Mineral Resources (Criteria listed in the preceding section
also apply to this section).

  Criteria         Explanation                                          Commentary

  Database         Measures taken to ensure that data has not           Logging is completed onto templates using standard logging
  integrity        been corrupted by, for example, transcription or     codes into Toughbook laptops. Analytical results are
                   keying errors, between its initial collection and    imported directly into the database by a database
                   its use for Mineral Resource estimation              specialist.
                   purposes.
                                                                        The central database, from which the extract used for
                                                                        Mineral Resource estimation was taken, is managed by
                                                                        Tawana. Upon receipt of the extract, CSA Global validated
                                                                        the database for internal integrity as part of the import
                                                                        process for modelling in Surpac.

                   Data validation procedures used.                     Data were validated for internal database integrity as part
                                                                        of the import process for use in Surpac. This includes logical
                                                                        integrity checks for data beyond the hole depth maximum,
                                                                        and overlapping from-to errors within interval data. Visual
                                                                        validation checks were also made for obviously spurious
                                                                        collar or downhole survey values, collars which were not
                                                                        assigned a proper RL value, and collars which may lack
                                                                        substantial downhole survey data.

  Site visits      Comment on any site visits undertaken by the         CSA Global Principal Consultants; Ralph Porter and
                   Competent Person and the outcome of those            Matthew Cobb have visited site and reviewed the drilling,
                   visits.                                              sample collection, and logging data collection procedures,
                                                                        along with conducting a review of the site geology.

                                                                        The outcome of the site visits (broadly) were that data has
                                                                        been collected in a manner that supports reporting a
                                                                        Mineral Resource estimate in accordance with the JORC
                                                                        Code, and controls to the mineralisation are well-
                                                                        understood.

                   If no site visits have been undertaken indicate      Not Applicable.
                   why this is the case.

  Geological       Confidence in (or conversely, the uncertainty of     The geological model developed is based on lithological
  interpretation   ) the geological interpretation of the mineral       logging of pegmatites within a metasedimentary host, with
                   deposit.                                             occasional hypabyssal intrusions of dioritic composition.
                                                                        The deposit geology is very well understood based on
                                                                        previous mining history and open pit exposures, and this is
                                                                        reflected in the generally high confidence in both the
                                                                        mineralisation and geological interpretations.

                   Nature of the data used and of any assumptions       The input data used for geological modelling has been
                   made.                                                derived from the qualitative and quantitative logging of
                                                                        lithology, alteration, geochemical composition of samples
                                                                        returned from RC and DD drilling.

                   The effect, if any, of alternative interpretations   The geological model developed has a solid lithological
                   on Mineral Resource estimation.                      basis, and is controlled by the presence of visually distinct
                                                                        pegmatite within drillholes. Pegmatite structures have
                                                                        been modelled as predominantly low angle / sub-horizontal
                                                                        structures on the basis of a high density of input drillhole
Criteria         Explanation                                       Commentary
                                                                   data and confirmation of the interpretation on the basis of
                                                                   mapping. The data do not readily lend themselves to
                                                                   alternative interpretations, and it is unlikely that such
                                                                   alternatives would yield a more geologically reasonable
                                                                   result.

                 The use of geology in guiding and controlling     The model developed for mineralisation is geologically
                 Mineral Resource estimation.                      driven; controlled by the presence or absence of pegmatite.



                 The factors affecting continuity both of grade    Geological continuity is controlled by the preference for
                 and geology.                                      fractionated pegmatitic fluids to follow preferential
                                                                   structural pathways through the host rocks (an intercalated
                                                                   pile of metasediments and metavolcanics. Grade within this
                                                                   pegmatite is controlled by numerous factors such as fluid
                                                                   residence time, degree of fluid fractionation and pegmatite
                                                                   thickness.

Dimensions       The extent and variability of the Mineral         The Bald Hill Mineral Resource comprises one large, main,
                 Resource expressed as length (along strike or     sub horizontal pegmatite body, striking north-south, with a
                 otherwise), plan width, and depth below surface   strike length of 1,230m, and a width at its widest point of
                 to the upper and lower limits of the Mineral      1,080m. This main body is surrounded by several smaller
                 Resource.                                         discrete pegmatite bodies, sub-parallel to the main, which
                                                                   result in a total strike length for the whole resource of
                                                                   2,045m, and a total width of 1,800m. The Mineral Resource
                                                                   has a total vertical depth of 245m, beginning 20m below the
                                                                   natural surface and plunging gently to the south along its
                                                                   entire strike length.

Estimation and   The nature and appropriateness of the             The Bald Hill Mineral Resource has been estimated using
modelling        estimation technique(s) applied and key           ordinary Kriging in a Surpac block model. The variables Li2O
techniques       assumptions, including treatment of extreme       ppm and Ta2O5ppm were estimated independently in a
                 grade values, domaining, interpolation            univariate sense. The pegmatites on which this Mineral
                 parameters and maximum distance of                Resource was defined was domained internally on the basis
                 extrapolation from data points. If a computer     of a 7,500ppm Li2O cut-off, which itself was determined
                 assisted estimation method was chosen include     from exploratory data analysis as a point of inflection within
                 a description of computer software and            the Li2O grade distribution. This resulted in a high-grade
                 parameters used.                                  core of Li2O mineralisation surrounded by lower grade
                                                                   pegmatite, and is an interpretation supported by the
                                                                   petrogenetic model for the formation of Li2O bearing
                                                                   pegmatites.

                                                                   Samples were composited to 1m intervals based on
                                                                   assessment of the raw drill hole sample intervals. Various
                                                                   high-grade cuts were used for both Li2O (ranging from
                                                                   10,000ppm to 60,000ppm) and Ta2O5 (ranging from
                                                                   300ppm to 4,000ppm) based on statistical review of each
                                                                   object. Composites for some objects remained uncut
                                                                   depending on the statistical review.

                                                                   High and low-grade domains were estimated
                                                                   independently with hard boundaries assumed between
                                                                   domains. Parameters for estimation and search ellipsoids
                                                                   were determined from quantitative kriging analysis
                                                                   performed within the SupervisorTM software package,
Criteria   Explanation                                     Commentary
                                                           which was also used to define semivariogram models for
                                                           each variable. The parameters defined for the largest, most
                                                           populated domains (main mineralised body and its high-
                                                           grade core) were used to inform all smaller subsidiary
                                                           domains during estimation.

                                                           A two search pass strategy was employed, with successive
                                                           searches using more relaxed parameters for selection of
                                                           input composite data, and a greater search radius. Blocks
                                                           not informed for any given variable after two passes were
                                                           assigned the Sichel Mean of the input data from that
                                                           particular domain.

                                                           All geological modelling and grade estimation was
                                                           completed using Surpac software.

           The availability of check estimates, previous   This Mineral Resource estimate is an update of the
           estimates and/or mine production records and    previously reported Mineral Resource estimate released in
           whether the Mineral Resource estimate takes     Q2 2017. The current estimate represents an incremental
           appropriate account of such data.               update based on additional drilling, and is comparable to its
                                                           predecessor in terms of average grades, with the expected
                                                           increase in tonnage from extensional drilling. Historic
                                                           estimates for the Bald Hill deposit focussed on Ta2O5 only,
                                                           and as such are not directly comparable to the current
                                                           estimate for which Li2O is the primary target variable.

           The assumptions made regarding recovery of      The only significant by-product to be considered is Ta2O5
           by-products.                                    which has been estimated within the domains defined by
                                                           Li2O.

           Estimation of deleterious elements or other     No deleterious elements have been identified or estimated.
           non-grade variables of economic significance
           (eg. sulphur for acid mine drainage
           characterisation).

           In the case of block model interpolation, the   Block model dimensions used for the Bald Hill Mineral
           block size in relation to the average sample    Resource estimate were 10 by 10 by 5m (XYZ) sub-celled to
           spacing and the search employed.                2.5 by 2.5 by 1.25m for resolution of volumes at lithological
                                                           boundaries. This compares to an average drillhole spacing
                                                           of 20m within the more densely informed areas of the
                                                           deposit. This 20m spacing increases to up to 80m between
                                                           drillholes in less well informed portions of the deposit.

                                                           Kriging Neighbourhood Analysis (KNA) was conducted
                                                           within the SupervisorTM software package to test a variety
                                                           of block sizes in both well and poorly informed areas of the
                                                           deposit. The chosen block size represents the smallest block
                                                           size that yields a robust set of estimation statistics, which
                                                           are comparable to the results also yielded from larger
                                                           blocks sizes.

           Any assumptions behind modelling of selective   No assumptions were made regarding selective mining
           mining units.                                   units.
Criteria         Explanation                                          Commentary

                 Any assumptions about correlation between            The two variables under consideration; Li2O and Ta2O5 are
                 variables.                                           uncorrelated within both the pegmatite as a whole, and
                                                                      within the high-grade domain (correlation coefficient of -
                                                                      0.04). Consequently, no correlation between variables was
                                                                      considered. Both variables were treated in a univariate
                                                                      sense.

                 Description of how the geological interpretation     The nature of the mineralised body is such that the
                 was used to control the resource estimates.          definition of the pegmatite host also defines the
                                                                      mineralisation. Within that, and based on a combination of
                                                                      petrogenetic process and statistical appraisal, an internal
                                                                      high-grade Li2O domain was defined.

                 Discussion of basis for using or not using grade     Domained data for both variables were assessed using
                 cutting or capping.                                  histogram and log probability plots to define potential top
                                                                      cuts to data. Where the Competent Person observed likely
                                                                      breaks in the continuity of the grade distributions, a top cut
                                                                      was chosen and applied. This was conducted on a per-
                                                                      domain basis.

                 The process of validation, the checking process      The results of estimation into the block model for the Bald
                 used, the comparison of model data to drill hole     Hill Mineral resource were validated visually and
                 data, and use of reconciliation data if available.   statistically. Estimated block grades were compared visually
                                                                      in section against the corresponding input data values.
                                                                      Additionally, trend plots of input data and block estimates
                                                                      were compared for swaths generated in each of the three
                                                                      principal geometric orientations (northing, easting and
                                                                      elevation).

Moisture         Whether the tonnages are estimated on a dry          Tonnages are reported on a dry basis.
                 basis or with natural moisture, and the method
                 of determination of the moisture content.

Cut-off          The basis of the adopted cut-off grade(s) or         Modelling of mineralisation for the resource was based on
parameters       quality parameters applied.                          a combination of pegmatite lithological logging. Within this
                                                                      mineralisation shape, a higher grade core was defined on
                                                                      the basis of a 7,500 ppm Li2O cut-off.

                                                                      The Mineral Resource is reported using both a 0.5% Li2O
                                                                      cut-off, which approximates a reasonable economic cut-off
                                                                      grade used for potential open pit mining as determined
                                                                      from pit optimisation studies.

Mining factors   Assumptions made regarding possible mining           The methods used to design and populate the Bald Hill
or assumptions   methods, minimum mining dimensions and               Mineral Resource block model were defined under the
                 internal (or, if applicable, external) mining        assumption that the deposit is likely to be mined via open
                 dilution. It is always necessary as part of the      pit methods.
                 process of determining reasonable prospects for
                 eventual economic extraction to consider
                 potential mining methods, but the assumptions
                 made regarding mining methods and
                 parameters when estimating Mineral Resources
                 may not always be rigorous. Where this is the
                 case, this should be reported with an
Criteria        Explanation                                          Commentary
                explanation of the basis of the mining
                assumptions made.

Metallurgical   The basis for assumptions or predictions             The material targeted for extraction predominantly
factors or      regarding metallurgical amenability. It is always    comprises the mineral spodumene, for which metallurgical
assumptions     necessary as part of the process of determining      processing methods are well established. No specific detail
                reasonable prospects for eventual economic           regarding metallurgical assumptions have been applied in
                extraction to consider potential metallurgical       the estimation the current Mineral Resource, however at
                methods, but the assumptions regarding               the current level of detail available, the Competent Person
                metallurgical treatment          processes and       believes with sufficient confidence that metallurgical
                parameters made when reporting Mineral               concerns will not pose any significant impediment to
                Resources may not always be rigorous. Where          eventual economic extraction.
                this is the case, this should be reported with an
                explanation of the basis of the metallurgical
                assumptions made.

Environmental   Assumptions made regarding possible waste            No assumptions have been made regarding waste products,
factors or      and process residue disposal options. It is always   however the Mineral Resource has previously been mined
assumptions     necessary as part of the process of determining      by open pit methods with a processing facility, stacked
                reasonable prospects for eventual economic           waste dumps and tailings storage facilities on site. It is
                extraction to consider the potential                 reasonable to assume that in the presence of this
                environmental impacts of the mining and              infrastructure, the creation and storage of waste products
                processing operation. While at this stage the        on site will not be of concern for future mining activities.
                determination of potential environmental
                impacts, particularly for a greenfields project,
                may not always be well advanced, the status of
                early consideration of these potential
                environmental impacts should be reported.
                Where these aspects have not been considered
                this should be reported with an explanation of
                the environmental assumptions made.

Bulk density    Whether assumed or determined. If assumed,           In situ bulk densities for the Bald Hill Mineral Resource have
                the basis for the assumptions. If determined, the    been assigned on a lithological basis for both mineralisation
                method used, whether wet or dry, the                 and waste, based on historical values derived from mining
                frequency of the measurements, the nature,           and values taken from those used in similar deposits and
                size and representativeness of the samples.          lithologies.

                                                                     The Competent Person considers the values chosen to be
                                                                     suitably representative.

                The bulk density for bulk material must have         Densities have been assigned on a lithological basis based
                been measured by methods that adequately             on a total of 44 metasediment and 25 pegmatite core
                account for void spaces (vugs, porosity, etc),       samples measured at the Nagrom laboratory and values
                moisture and differences between rock and            derived from surrounding deposits and rock types.
                alteration zones within the deposit.

                Discuss assumptions for bulk density estimates       Bulk densities have been applied on a lithological unit basis.
                used in the evaluation process of the different      Values assigned were as follows:
                materials.                                                -    Fresh pegmatite mineralisation 2.65 t/m3
                                                                          -    Transitional pegmatite 2.5t/m3
                                                                          -    Fresh diorite 2.8t/m3
                                                                          -    Transitional diorite 2.6t/m3
                                                                          -    Fresh metasediments 2.74t/m3
                                                                          -    Transitional metasediments 2.6t/m3
Criteria         Explanation                                            Commentary
                                                                          -    Oxide metasediments 2.2t/m3
                                                                          -    Waste fill 1.8t/m3

                                                                        additional bulk density testwork utilising drill core across
                                                                        the mineralised zones and less common waste units is
                                                                        recommended for future estimates.

Classification   The basis for the classification of the Mineral        The Mineral Resource has been classified as Indicated and
                 Resources into varying confidence categories.          Inferred on a qualitative basis; taking into consideration
                                                                        numerous factors such as drillhole spacing, estimation
                                                                        quality statistics (kriging slope of regression), number of
                                                                        informing samples used in the estimate, average distance
                                                                        to informing samples in comparison to the semivariogram
                                                                        model ranges, and overall coherence and continuity of the
                                                                        modelled mineralisation wireframes.

                 Whether appropriate account has been taken of          The classification reflects areas of lower and higher
                 all relevant factors (ie relative confidence in        geological confidence in mineralised lithological domain
                 tonnage/grade estimations, reliability of input        continuity based on the intersecting drill sample data
                 data, confidence in continuity of geology and          numbers, spacing and orientation. Overall mineralisation
                 metal values, quality, quantity and distribution       trends are reasonably consistent within the various
                 of the data).                                          lithology types over numerous drill sections.

                 Whether the result appropriately reflects the          The Mineral Resource estimate appropriately reflects the
                 Competent Person’s view of the deposit.                Competent Person’s views of the deposit.

Audits or        The results of any audits or reviews of Mineral        Internal audits were completed by CSA Global which
reviews          Resource estimates.                                    verified the technical inputs, methodology, parameters and
                                                                        results of the estimate.

                                                                        The current model has not been audited by an independent
                                                                        third party

Discussion of    Where appropriate a statement of the relative          The Mineral Resource accuracy is communicated through
relative         accuracy and confidence level in the Mineral           the classification assigned to the deposit. The Mineral
accuracy/        Resource estimate using an approach or procedure       Resource estimate has been classified in accordance with
confidence       deemed appropriate by the Competent Person.            the JORC Code, 2012 Edition using a qualitative approach.
                 For example, the application of statistical or         All factors that have been considered have been adequately
                 geostatistical procedures to quantify the relative     communicated in Section 1 and Section 3 of this Table.
                 accuracy of the resource within stated confidence
                 limits, or, if such an approach is not deemed
                 appropriate, a qualitative discussion of the factors
                 that could affect the relative accuracy and
                 confidence of the estimate.

                 The statement should specify whether it relates        The Mineral Resource statement relates to a global
                 to global or local estimates, and, if local, state     estimate of in-situ tonnes and grade.
                 the relevant tonnages, which should be relevant
                 to technical and economic evaluation.
                 Documentation should include assumptions
                 made and the procedures used.

                 These statements of relative accuracy and              The deposit has been historically mined for tantalum
                 confidence of the estimate should be compared          (Ta2O5), however no accounting for Li2O had been
                 with production data, where available.                 undertaken, and therefore no production records are
                                                                        available for comparison to the current estimate.

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