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TAWANA RESOURCES NL - Bald Hill Plant Achieves Key Milestones

Release Date: 29/03/2018 08:25:00      Code(s): TAW       PDF(s):  
Bald Hill Plant Achieves Key Milestones

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

Bald Hill Plant Achieves Key Milestones

    -      DMS primary gravity concentration circuit has exceeded
           name-plate throughput rate during a 24-hour performance test run
    -      High quality concentrates produced with grades well in excess of 6% Li2O

Tawana Resources NL (TAW:ASX) (Tawana) and Alliance Mineral Assets Limited (SGX:40F) (AMAL)
are pleased to provide an update on ore commissioning at the Bald Hill Lithium and Tantalum Mine
(Bald Hill) in the Eastern Goldfields region of Western Australia.

Bald Hill, a joint venture project between Tawana and AMAL, is the first Australian mine to
commence spodumene production since 2016.

Ore commissioning through the newly-constructed Dense Media Separation (DMS) circuit has made
significant progress in the first two weeks of operation. The DMS circuit has performed to
expectations with nameplate capacity of 162tph achieved within the first 2 weeks of ore
commissioning. The DMS circuit is scheduled to be ramped up to full production rate during the
second quarter of 2018.

The first of three performance tests has been successfully completed, with:
-       4,152 tonnes of ore processed over a 24-hour period at an average processing rate of 173tph;
-       Initial sampling of the primary concentrate returning a grade of 7.03% Li2O, 0.34% Fe2O3 and
        1.12% combined Na2O and K2O;
-       The concentrates contain less than 1% mica; and
-       Initial sampling of waste material returning a grade of 0.10% Li2O.

These initial results have been achieved on low grade commissioning ore. The plant performance is
consistent with results achieved in test work in the development and design phase of the project.

Tawana’s Managing Director Mark Calderwood said “To produce concentrates with more than 6%
Li2O, within the first two weeks of ore commissioning exceeds expectations given the initial low feed
grade ore being used for commissioning start up. Equally impressive is the exceptionally low iron
and mica contents. It is particularly pleasing to see predicted plant performance being achieved in
The high quality of concentrates appears to be testament to the favorable mineralogy-metallurgy of
the Bald Hill deposit and the bespoke design of the DMS circuit.”

About the Bald Hill Project
The Bald Hill Project comprises four mining leases, one mining lease application, 12 exploration
licences, eight prospecting licences and one general purpose lease totalling 774km2. The project is
owned 50:50 by Tawana and AMAL.
First lithium concentrate product will be available for shipment in April 2018.
Each of Tawana and AMAL executed separate offtake agreements in April 2017 (and subsequent
variations thereto) 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% Li20. The prepayments from the offtake
agreements are being used towards the capital costs of the Project.
The Project is located 50km southeast of Kambalda in the Eastern Goldfields of Western Australia, and
approximately 75km southeast of the Mt Marion Lithium project.
A current Indicated and Inferred lithium Mineral Resource of 18.9 million tonnes at 1.18% Li20, and
149ppm Ta205 at a 0.5% Li20 cut-off for the Project was calculated by CSA Global Pty Ltd.1

Forward Looking Statements
This announcement may contain certain forward looking statements and projections, including regarding estimated resources and
reserves, production and operating costs profiles, capital requirements and 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 and/or Alliance Mineral Assets Limited. 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 and/or Alliance Mineral Assets Limited. The forward looking statements/projections are inherently uncertain
and may therefore differ materially from results ultimately achieved.

Tawana Resources NL and/or Alliance Mineral Assets Limited does not make any representations and provides no warranties
concerning the accuracy of the forward looking statements, and disclaims any obligation to update or revise any forward looking
statements based on new information, future events or otherwise except to the extent required by applicable laws. While the
information contained in this announcement has been prepared in good faith, neither Tawana Resources NL and/or Alliance Mineral
Assets Limited or any of their 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
announcement. Accordingly, to the maximum extent permitted by law, none of Tawana Resources NL and/or Alliance Mineral
Assets Limited, their 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.

End Notes
     1.   All material assumptions and technical parameters underpinning the Mineral Resource estimates in the ASX
          announcement dated 11 October 2017 / SGX announcement dated 12 October 2017 continue to apply and have
          not materially changed since it was last reported.
     2.   Sample analyses were completed by XRF and ICP methodologies by industry specialist Nagrom. Nagrom’s
          relationship with Tawana Resources NL and/or Alliance Mineral Assets Limited is only limited to provision of
          contractual metallurgical testwork and mineral analysis. Nagrom is AS/NZS ISO 9001 accredited (Registration

Competent Persons Statement (Metallurgy)
The information in this announcement that relates to metallurgy and metallurgical test work has been reviewed by Mr Noel
O’Brien, FAusIMM, MBA, B. Met Eng. Mr O’Brien is an employee of the Company. Mr O’Brien is a Fellow of the Australasian
Institute of Mining and Metallurgy, and he has sufficient experience with the style of processing response and type of deposit
under consideration, and to the activities undertaken, to qualify as a competent person as defined in the 2012 edition of the
“Australian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves” (The JORC Code). Mr O’Brien
consents to the inclusion in this announcement of the contained technical information in the form and context as it appears.
Mr O’Brien is an option holder in Tawana. Mr O’Brien and Tawana do not consider this to constitute a potential conflict of
interest to his role as Competent Person.

29 March 2017

Sponsor PricewaterhouseCoopers Corporate Finance (Pty) Ltd

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