Tawana Resources announces 61.9Mt Mofe Creek Resource

THE DRILL SERGEANT: Tawana Resources (ASX: TAW) has released an estimated Mineral Resource for the company’s 100 per cent-owned Mofe Creek iron ore project located in Grand Cape Mount County, Republic of Liberia, West Africa.

The company has calculated a maiden Mineral Resource of 61.9 million tonnes with an in-situ iron grade of 33 per cent for the Mofe Creek project, comprising the Gofolo Main, Zaway and Koehnko deposits.

The Resource includes Indicated Mineral Resources of 16.2 million tonnes at 35.4 per cent iron, with the balance of the Mineral Resource classified as Inferred (45.7 million tonnes at 32.1 per cent iron).

 

Summary Grade-Tonnage for Mofe Creek (20 per cent iron lower cut-off is applied). Source: Company announcement

 

The company considers the release of the maiden Mineral Resource to be a major milestone as it makes the transition from an explorer to a developer.

“Classification of 16.2 million tonnes in the Indicated category as part of the Maiden Resource provides additional confidence in the geological robustness of the Mofe Creek project,” Tawana Resources managing director Len Kolff said in the company’s announcement to the Australian Securities Exchange.

“It is a critical step in allowing the company to assess the technical and economic viability of a proposed one to two million tonne per annum early start-up operation (Stage 1 scenario) and a later stage (Stage 2 scenario), five to 10 million tonnes per annum project.

Tawana indicated it has so far drilled only eight kilometres of a total 65km of potential interpreted prospective strike within the Mofe Creek licence area,

“The potential expansion of the resource remains extremely viable” Kolff said.

The company has confirmed mineralisation at Mofe Creek as coarse-grained, high-grade friable itabirite with a 33.6 per cent iron average grade and exceptionally low contaminants, which it believes sets it apart from other West African iron ore projects.

“Coupled with the mineralisation being at or near surface, with low strip-ratio potential for future mine developments, places Tawana in an optimal position to fast-track the development of the Mofe Creek project, and provide reasonable prospects for eventual economic extraction of the resources,” Kolff said.

“Recent Metallurgical results also confirmed the simple upgradability of the iron formation to a premium grade product ranging from 62 to 68 per cent iron.”

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Website: www.tawana.com.au