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TAW
TAW
Tawana Resources NL - Daniel Kimberlite Project - Update
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")
20 March 2006
Daniel Kimberlite Project - Update
Highlights
- BHP Billiton confirms commitment to contribute its share of expenditure to
drilling program over additional Falcon targets in the Daniel Kimberlite
Project area.
- Drilling of new Falcon targets commenced.
- First phase program entails drilling approximately 20 Falcon targets.
- Bulk sample taken of kimberlite A95.
- Diamonds recovered.
Daniel Kimberlite Project
(Tawana 22.2% and operator/ BHP Billiton 51.8% /Seven Falls 26%/)
Falcon Targets
Following the discovery of kimberlites A1, A2 and A95 during the Q4 2005, the
BHP Billiton Falcon data was reviewed resulting in a reassessment of all of the
previously identified targets. This led BHP Billiton to confirm its intention of
contributing its share of expenditure on the ongoing drilling of the Falcon
targets.
A program for this exploration has been agreed by the joint venture partners
with the first phase entailing drilling approximately 20 Falcon targets
identified by BHP Billiton. Tawana will continue as operator of the program.
Drilling will be conducted in several phases during 2006 as access becomes
available. The first phase of this program has commenced on currently accessible
targets.
A95 Kimberlite
Tawana has completed a small bulk sampling program designed to determine whether
the kimberlite A95 is diamondiferous. 500 tonnes of calcretised kimberlite were
excavated from the top 2 metres of two sections of A95 and processed in the
Company"s Dense Media Separation plant. Four small diamonds were recovered
weighing a total 0.14cts, proving that the kimberlite is diamondiferous but
giving no indication of the grade. (See Comment)
Further drill testing on the kimberlite is planned.
As was previously reported, the high quality (US$274 per carat) diamonds found
in the Eastern Gravels are different from those found draining the Finsch Mine
and are thought by Tawana geologists to be derived from a different source. The
A95 kimberlite may be this source.
Comment: Shareholders should be aware that kimberlites in the Limeacres region
of South Africa, such as Perdevlei, Kareevlei and A95, are characterized by a
surface alteration known as "calcretisation". This occurs when the exposed
portions of the kimberlite are indurated by calcium carbonates deposited by
circulating ground waters. This has the effect of coating any diamonds in the
surficial, calcretised part of the kimberlite with carbonates, which may have an
adverse affect on the recovery of diamonds by conventional methods. Bulk
sampling of exposed calcretised kimberlite, therefore, only provides information
as to whether the kimberlite is diamondiferous or not. Samples of deeper
sections of the kimberlite can then be collected, if warranted, to determine the
grade of the deposit.
Contact:
Wolf Marx
Tel: +61 3 98635222
Mob: 0428 398446
Email:wolf.marx@tawana.com.au
Andrew Smith
Tel: 08 82768794
Mob: 0428 265205
Email: andrew.smith@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 addition 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
Date: 20/03/2006 10:33:04 AM Produced by the JSE SENS Department
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