Tawana Resources provides maiden results for Bald Hill Lithium And Tantalum Project

Tawana Resources NL and Alliance Mineral Assets Limited announced a maiden Indicated and Inferred lithium Mineral Resource for the Bald Hill Lithium and Tantalum Project.

Highlights

- Resource independently estimated by CSA Global Pty Ltd.
- Maiden Indicated and Inferred lithium Mineral Resource of:
       - High grade of 12.8 million tonnes at 1.18% Li2O and 158ppm Ta205 at a 0.5% Li20    
         cut-off.
- High grade tantalum Resources have increased 250% to 8.9 million tonnes at 304ppm Ta2O5 containing 6 million pounds of tantalum pentoxide, including 5.7 million tonnes at 311ppm
  Ta2O5 not included in the +0.5% Li2O lithium resource.
- Approximately 80% of the lithium and tantalum resources above 0.5% Li20 occurs in a 100m deep interval commencing from about 30m below the lowest surface level.
- Maiden Resource covers only 20% of the known southern swarm of lithium pegmatites. Ongoing drilling continues to expand the resource footprint.
- The Resource satisfies the condition precedent to the second offtake prepayment with Burwill Holdings Ltd, due on 15 July 2017.
- The substantial Resource complements the excellent recoveries from metallurgical test work.
- Feasibility Study completion is imminent.
- First lithium shipment targeted for Q1 2018.

Tawana Resources Managing Director Mark Calderwood stated: “The 18.5Mt of combined high-grade lithium and tantalum resources is an excellent start from initial drilling at Bald Hill which has only tested 20% of the initial mineralised target area. Exploration drilling is continuing at Bald Hill with the intention of providing resource upgrades over the next six months. We are also pleased to have met the Resource condition precedent of the off-take early.”

Mineral Resource Estimate

CSA Global Pty Ltd (“CSA Global”) was commissioned by Tawana to compile the maiden lithium Mineral Resource estimate for the Bald Hill Project and update the tantalum Resource. The Bald Hill Pegmatite Mineral Resource comprises one large, main, sub horizontal pegmatite body, striking north-south, with a strike length of 1,070 metres, and a width at its widest point of 775 metres. This main body is surrounded by several smaller discrete pegmatite bodies, sub-parallel to the main, which result in a total strike length for the whole resource of 1,245 metres, and a total width of 990 metres. The Mineral Resource has a total vertical depth of 195 metres, beginning 20 metres below the natural surface and plunging gently to the south along its entire strike length.

The Mineral Resource has been classified as Indicated and Inferred in accordance with the JORC Code, 2012 Edition on a qualitative basis; taking into consideration numerous factors including drillholes spacing, estimation quality statistics (kriging slope of regression), number of informing samples, average distance to informing samples in comparison to the semivariogram model ranges, and overall coherence and continuity of the modelled mineralisation wireframes.

Tawana Resources is an JSE and ASX listed iron, gold and manganese exploration company with operations in Liberia and South Africa.