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Alliance Mineral Assets Ltd.
Summary
| Project: | Bald Hill | |
|---|---|---|
| Deposit: | Bald Hill | |
| Location: | Australia | |
| Commodities: | Tantalum-Lithium | |
| Date: | 4/18/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 18-4-2017: Alliance Mineral Assets Ltd. announces an Exploration/Drilling Update report for its Bald Hill deposit at the Bald Hill project. JV with Tawana - Drilling results incl. 35m @ 1.35% Li2O, 60ppm Ta2O5 from 71m. Tawana Resources NL (“Tawana” or th | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Mark Calderwood, Gareth Reynolds (Internal) | |
| ABSTRACT: | Tawana Resources NL (“Tawana” or the “Company”) and Alliance Mineral Assets Limited (SGX: AMAL) are pleased to announce that extensional step-out drilling at the Bald Hill project, Western Australia has intercepted the most significant lithium and tantalum results to date. These exceptional results are extensions to the initial Resource estimation which is expected to be completed by the end of April 2017 along with the Feasibility Study. Tawana Resources Managing Director Mark Calderwood stated: “Recent significant drill intercepts from step-out drilling has shown the Bald Hill pegmatites are displaying unusually strong zonation, evidenced by spectacularly rich spodumene and tantalum mineralisation. This level of zonation is the preserve of the most complex pegmatite fields (such as Greenbushes and Wodgina) and has prompted the increase in the number of drill rigs. Tawana and AMAL are working towards commencement of commissioning of the spodumene plant this year, and recommencement of processing of tantalum through the existing processing facility” A further 115 resource and sterilisation RC drill holes totalling 13,652m were completed between 20 February 2017 and 31 March 2017. The Companies are in the advanced stages of completing a feasibility study with the metallurgical and process engineering aspects of the study essentially completed and the detailed mining engineering is underway. Product off-take pricing and prepayment negotiations are also in an advanced stage. Cashflow modelling will be completed when the key areas of the study are completed. However, Tawana and AMAL have given go-ahead for the commencement of detailed design and final long lead item equipment selection. | |
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