| Wed 14 Dec 2011, 10:16 | | TAW - Tawana Resources NL - Robust Geochemical anomalies defined at Nimba and |
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TAW
TAW
TAW - Tawana Resources NL - Robust Geochemical anomalies defined at Nimba and
Lofa Projects, Liberia, West Africa
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")
Robust Geochemical Anomalies Defined at Nimba and Lofa Projects, Liberia, West
Africa
(Please note all maps and images have been removed and can be found on the
Tawana website)
HIGHLIGHTS
* High priority stream sediment gold anomalies defined at the Nimba and Lofa
projects
* Large scale robust 10 km strike length target identified at Nimba and 6 km
strike length target at Lofa
* Anomalous target areas enhanced by coincident artisanal workings,
favourable geology and major structures that host the 5 Moz Ity mine and
1.52 Moz New Liberty resource
* Field teams in place for immediate follow-up in the New Year
Tawana Resources NL (ASX: TAW, the `Company`) is pleased to announce it has
identified several high priority stream sediment anomalies from its maiden
geological exploration program on the companies Nimba and Lofa projects in
Liberia, West Africa.
Tawana Resource NL, Managing director, Len Kolff said "This is a great result
for the Nimba and Lofa licences acquired under the Gryphon Strategic Alliance;
discrete target areas have been identified by robust, stream sediment
geochemical anomalies that will be immediately followed up with soil sampling &
drill targeting."
Nimba BLEG Anomalies
A total of 355 stream sediment samples were collected on the Nimba prospect of
which 154 samples were selected for BLEG gold and multi-element geochemical
analysis.
Clustering of gold anomalies was observed in the south of the tenement area. In
addition gold anomalies were scrutinised and ranked by evaluating their multi-
element geochemical signatures based on relative metal concentrations. Clear
multi-element geochemical signatures (Au+Ba+Ga/La+Pb and Au+Cu+Fe+Pb+Ti+V) were
observed with peak gold anomalism, providing confidence that the stream
sediments are substantially sampling the bedrock and that the gold anomalies are
genuine. Peak anomalies were recorded at 16ppb; 16 times higher than background
gold levels of around 1ppb.
These factors combined provide confidence that results are robust and defining
anomalism associated with upstream gold mineralisation. The strongest gold
response in the SW corner of Nimba is defining a +10km strike length ridge and
two smaller sub-parallel ridges on either side of the main trend.
These target areas are further enhanced by increased artisanal mining activity
downstream, coincident topographic and magnetic highs and favourable structural
and lithological settings.
Lofa BLEG Anomalies
A total of 218 stream sediment samples were collected on the Lofa license of
which 74 samples were selected for BLEG gold and multi-element geochemical
analysis. Peak gold anomalism was reported at 8.6ppb; 8.5 times higher than
background gold levels of around 1ppb.
Clustering of anomalies was observed within streams draining a discrete 6x3 km
area of hills in the north-west of the tenement area. Anomalies were scrutinised
further and multi-element geochemical signatures defined, with the strongest
gold response associated with a Au+Ba+Ga/La+Pb signature as per Nimba in
addition to a Cu-Ni-Cr-V-Ti-Fe metal association suggesting a mafic/ultramafic
lithological host.
Ultramafics have not been recorded on the government USGS regional geological
map; however, native Cu mineral occurrences are recorded on the northern licence
boundary immediately adjacent, further supporting and enhancing the anomalous
area.
Sampling and Assay Methodology
Stream sediment samples were collected using an ultra-sensitive Bulk Leach
Extractable Gold (BLEG) methodology which is designed to minimise "nugget
effect" sampling issues and increase sample result repeatability. The BLEG
methodology used is specifically designed to see mineralisation signatures
from large hydrothermal gold systems whilst filtering out the effects of small,
high-grade systems that can generate costly and time consuming false anomalies.
It is highly appropriate in tropical environments where there has been long
lived deep weathering and erosion creating significant dispersion trains.
All samples were submitted to OMAC Stewart Group laboratory for gold and
multi-element geochemical analysis. Gold analysis was by low level BLEG
using accelerated active leach with leach aid (DL 0.1ppb) and multi-element
geochemical analysis was by Aqua Regia digest and combined Inductively Coupled
Plasma with Atomic Emission Spectrometry or Mass Spectrometry (ICPAES/MS)
finish.
Results received have passed internal and external QA/QC procedures and are
within reporting error limits (+/-2SD) of certified standards inserted by the
Company providing confidence in reported results.
Next Steps and Timing
A soil sampling and infill stream sediments programme has been planned to cover
the newly identified target areas. Field work is expected to commence early in
the New Year. Pending results, infill soil sampling and trenching followed by
drilling of subsequent target areas is planned.
About Liberia
Liberia is a democratic country run by Her Excellency President Ellen
Johnson-Sirleaf; Africa`s first elected female head of state in 2005. The
country is hugely prospective and hosts several world class iron ore deposits
but yet is completely underexplored for gold and non-ferrous metals. Liberia
has a modern and transparent mining code and the government is supportive of
foreign investment especially in the exploration and mining industry to help
unlock the value of its potential mineral wealth. Tawana is one of the first
ASX listed junior companies into Liberia following in the footsteps of mining
majors BHPBilliton, Arcelor-Mittal and Severstal.
Liberia is located in West Africa dominantly within the Archean aged Kenema Man
Domain and lesser Birimian sediments to the east. There are a large number of
world class mineral deposits located in the Archean and Birimian rock types
throughout West Africa including Obuasi (+40 Moz) and Tasiast (+18 Moz). West
Africa is one of the fastest growing mineral provinces in the world and Liberia
currently hosts several world class iron ore deposits and is underexplored for
gold.
For further information, please contact:
Lennard Kolff van Oosterwijk
Managing Director
Competent Persons Statements
The information in this report in so far that it relates to Liberian Project
Exploration Results, Mineral Resources or Ore Reserves is based on information
compiled by Lennard Kolff van Oosterwijk, who is a Member of the Australian
Institute of Geoscientists included in a list promulgated by the ASX from time
to time. Lennard Kolff van Oosterwijk is a full-time employee of the company
and has sufficient experience which is relevant to the style of mineralisation
and type of deposit under consideration and to the activity which he is
undertaking to qualify as a Competent Person as defined in the 2004 Edition
of the `Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves`. Lennard Kolff van Oosterwijk consents to the
inclusion in the report of the matters based on his information in the form
and context in which it appears.
Sponsor
PricewaterhouseCoopers Corporate Finance (Pty) Ltd
14 December 2011
Date: 14/12/2011 10:16:00 Produced by the JSE SENS Department.
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