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Tawana Resources NL
Summary
| Project: | Bald Hill | |
|---|---|---|
| Deposit: | Bald Hill | |
| Location: | Australia | |
| Commodities: | Tantalum-Lithium | |
| Date: | 11/17/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Mine Development | |
| Report details: | 17-11-2016: Tawana Resources NL announces an Exploration/Drilling Update report for its Bald Hill deposit at the Bald Hill project. JV -Drilling results incl. 23m @ 1.15% Li2O, 166g/t Ta2O5, 107g/t Nb2O5, 107g/t SnO2 from 107m. Tawana Resources NL (“Tawan | |
| Resources: | (Reserve, Prob.): 1.69Mt @ 303ppm Ta2O5 at Bald Hill total | |
| CP/QP: | [Overall Report]: Mark Calderwood (Internal) | |
| ABSTRACT: | Tawana Resources NL (“Tawana” or the “Company”) is pleased to announce an update on the Bald Hill Mine in Western Australia. As previously announced, Tawana has an option to acquire Lithco No 2 Pty Ltd (“Lithco”) which has entered into a Farm-In and Joint Venture arrangement with SGX listed Alliance Mineral Assets (“AMAL”) for the purpose of exploration and joint exploitation of lithium and other minerals. An early stage step-out exploratory drilling program commenced at Bald Hill and is targeted at adding to the overall understanding of the resource potential extending from the current permitted pit design. The drilling is part of a larger program to upgrade resources and reserves to support possible recommencement of mining in 2017. There are two rigs working on the Mining Lease and another operating on the Company’s neighbouring Cowan Lithium Project. The number of rigs is likely to increase in January. Lithco is ramping up engineering studies focused on adding a spodumene concentrator and infrastructure upgrades. The current concept study is a precursor to detailed planning commencing in the New Year. Managing Director Mark Calderwood stated: “The first ever program focused on lithium at Bald Hill has resulted in early success and we expect that over the coming months the resource potential will unfold as we increase the pegmatite footprint to the south and west. The Company expects to release an exploration update from the neighbouring Cowan Project next week.” The Bald Hill Project (“Project”) area is located 50km south east of Kambalda in the Eastern Goldfields of Western Australia. It is located approximately 75km south east of the Mt Marion Lithium project and is adjacent to and surrounds the Company’s Cowan Lithium Project. The Project, owned by Alliance Mineral Assets Limited (“AMAL”), includes a permitted tantalum (pegmatite) mine, processing facility and associated infrastructure. Lithco No 2 Pty Ltd (“Lithco”) has entered into a Farm-In and Joint Venture arrangement with AMAL for the purpose of joint exploration and exploitation of lithium and other minerals. Tawana has entered an option agreement to acquire all the shares in Lithco. | |
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