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TAW
TAW
TAW - Tawana - Tawana assumes 100% control of exciting Orapa Project
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")
27 May 2009
Tawana assumes 100% control of exciting Orapa Project
Following disappointing progress from our previous joint venture partners in
Botswana, Tawana`s Executive Chairman, Neil Barrie, has today announced that the
company has terminated the previous joint venture and will now pursue new
initiatives for the rapid development and bulk sampling of several kimberlites
in this highly prospective area.
The Orapa Kimberlite field is located in north-eastern Botswana and includes the
Orapa, Letlhakane and Damtshaa diamond mines which produce in excess of
13million carats of diamonds per year.
Picture available on copy lodged on company website.
Tawana has eight kimberlites of immediate interest in the area as detailed
above.
The Orapa Kimberlite field is one of the largest diamondiferous kimberlite
fields in the world, containing 79 known kimberlites. Tawana`s high prospective
BK24 kimberlite is located 20km from the Orapa mine, 30km from the Letlhakane
mine and only 6km from the Damtshaa mine.
Picture available on copy lodged on company website.
Aeromagnetic surveys on BK24 have shown a significant kimberlitic structure is
present.
Previous sampling from fresh kimberlite at approximately 30m below surface on
pipe BK24 has revealed a large specimen of Eclogite embedded in the kimberlite.
Picture available on copy lodged on company website.
This is an important specimen as it proves that BK24 sampled the Eclogitic layer
in the Earth`s mantle which is the source of diamonds in the wider Orapa diamond
field in Botswana.
Mr Barrie went on to state that Tawana will be seeking fully funded joint
venture participants in the future.
"We have had a large number of approaches from interested parties in South
Africa, Botswana and the United Kingdom in recent weeks. We are determined to
keep Tawana focused to unlock value for all our shareholders. BK24 at Orapa in
Botswana and our highly prospective Kareevlei project in South Africa are
examples of outstanding assets which will be rapidly advanced to bring Tawana up
to mining status in the near future".
Contact:
Terri Bakos
Tel: +61 (0)3 9824 5254
Tawana Resources- a world class diamond and mineral exploration company listed
on the Australian and Johannesburg Stock Exchanges committed to the principles
of enhancing shareholder value through being ethically, socially and
environmentally conscious corporate citizens
Sponsor
PricewaterhouseCoopers Corporate Finance (Pty) Ltd
Date: 27/05/2009 09:01:02 Produced by the JSE SENS Department.
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