| Tue 8 May 2007, 8:31 | | TAW - Tawana - Prospecting Licence granted over BK |
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TAW
TAW
TAW - Tawana - Prospecting Licence granted over BK19-BK26 kimberlite field in
Botswana
Tawana Resources NL
(Incorporated in Australia)
(Registration number ACN 085 166 721)
Share code on the JSE Limited: TAW ISIN: AU000000TAW7
Share code on the Australian Stock Exchange Limited: TAW ISIN: AU000000TAW7
("Tawana" or "the Company")
8 May 2007
Prospecting Licence granted over BK19-BK26 kimberlite field in Botswana
HIGHLIGHTS
Prospecting Licence granted over 8 kimberlites (BK19-BK26) in the Orapa
kimberlite field in Botswana, one of the largest diamondiferous kimberlite
fields in the world, with 79 known kimberlites, of which the majority are
diamondiferous. Prospecting Licence 061/2007 is valid for three years.
The Orapa kimberlite field has three producing mines, Orapa, Lethakane and
Damtshaa (comprising 4 kimberlites), and one developing project AK6.
The BK24 diamondiferous kimberlite is located 2.5km from the Damtshaa Mining
Lease (BK1), 22km from the Orapa Mining Lease and 28km from the Letlhakane
Mining Lease.
BK19-BK26 kimberlites have not been evaluated using modern techniques.
Good potential exists for additional kimberlite discoveries in licence area.
Exploration and evaluation plans are in place and field work is to commence
immediately.
Tawana Resources NL ("Tawana" or "the Company"), the ASX and JSE quoted diamond
mining and exploration company, is pleased to announce that it has been granted
a new prospecting licence over an area of approximately 57 square kilometres,
covering 8 kimberlites in the Orapa kimberlite field in Botswana. Applications
for this Prospecting Licence were submitted by a number of companies in a
competitive basis. The Prospecting Licence is held in the name of Seolo Pty Ltd,
a 100% owned Botswana registered subsidiary of Tawana.
The Orapa kimberlite field is located in north eastern Botswana, and includes
the Orapa, Letlhakane and Damtshaa diamonds mines, which produce in excess of 13
million carats of diamonds per year. The Orapa kimberlite field is one of the
largest diamondiferous kimberlite fields in the world, containing 79 known
kimberlites, of which the majority has been proven to be diamondiferous. Orapa
is one of the largest producing kimberlites in the world and is 113 hectares in
surface area.
Wolf Marx, Managing Director of Tawana commented today: "The acquisition of 8
kimberlites, at least one of which is known to be diamondiferous, in the Orapa
kimberlite field in Botswana is a very significant development for Tawana. With
the kimberlite exploration and evaluation expertise and equipment that we now
have in the Company, we will be able to move the BK19-BK26 assessment forward
rapidly and aggressively."
Mr. Marx went on to say: "The probable development by De Beers and AIM listed
African Diamonds Plc ( AFD-L) of a new diamond mine in the Orapa area on the AK6
kimberlite, which was originally discovered and evaluated in the 1970`s and
considered at that time to be a small, low-grade kimberlite, provides an
indication of the potential that still remains in Botswana. The success of
Firestone Diamond Plc (FDI-L) in discovering 11 new kimberlites since November
2006 in the Tsabong area of Botswana is also noteworthy"
Work Program
Tawana plans to undertake a program of evaluation of the kimberlites which will
entail detailed geophysics, trenching and drilling to establish the size of the
kimberlites, followed by bulk sampling to determine the grade and diamond
quality of the kimberlites. Initial indications are that the diamondiferous BK24
is in excess of 3 hectares in surface area and at least one other kimberlite has
a surface area of 2 hectares. No previous drilling has been conducted on 7 of
the eight kimberlites. The budgeted expenditure for Year 1 is Pula 2 million
(A$400,000)
An initial review of available airborne geophysical data has indicated the
possible presence of at least one new kimberlite in the Prospecting Licence
area.
Contact:
Wolf Marx
Tel: +61 (0)3 98635222
Mob: +61 (0)428 398446
Email:wolf.marx@tawana.com.au
This report is based on information compiled by Wolf Marx BSc, BA, FAusIMM,
CPGeo, Managing Director of Tawana Resources NL. He has sufficient experience
relevant to the style of mineralisation and types of deposits under
consideration, and to the activities undertaken, to qualify as a competent
person as defined in the 2004 edition of the "Australasian Code for the
Reporting of Mineral Resources and Ore Reserves"
All press releases and announcements may be inspected on the Company`s web site,
namely: www.tawana.com.au
South African Sponsor to Tawana:
PricewaterhouseCoopers Corporate Finance (Pty) Limited
Date: 08/05/2007 08:31:56 Produced by the JSE SENS Department.
