Tawana Resources claims new DSO mineralisation discovery
THE DRILL SERGEANT: Tawana Resources (ASX: TAW) has claimed discovery of new high-grade mineralisation at the company’s 100 per cent-owned MEL1223/14 Mofe Creek South licence in Liberia.
The recently-acquired Zaway South prospect has delivered grades of up to 61.6 per cent iron Direct Shipping Ore (DSO) mineralisation, and coarse-grained, friable itabirite mineralisation over a strike greater than 4.5 kilometres.
Tawana said it has defined new high-grade mineralisation of potential DSO grade and quality over a 900m by 250m area, which it considers to enhance prospectivity for further DSO discoveries.
According to the company’s release the newly-defined mineralisation remains open to the east and is coincident with a 2km-long hill, where Tawana believes potential remains for additional itabirite mineralisation to be defined.
A further combined strike length of coarse-grained itabirite greater than 4.5km has been delineated within the adjacent mineralised zones within this area.
The company went on to say the discoveries within its new licence area, collectively represent just one of four high-priority target areas defined within the overall Mofe Creek southern licence area.
The company’s confidence has been bolstered with itabirite mineralisation defined, which it indicated to possess similar geological characteristics to the 61.9 million tonnes at 33 per cent iron maiden resource estimate it has established at the Gofolo Main and Zaway deposits located on adjoining Licence MEL 12029.
“To define DSO grade mineralisation at surface within our new tenement, is a very encouraging result for the company,” Tawana Resources executive chairman and chief executive officer Wayne Richards said in the company’s announcement to the Australian Securities Exchange.
“This represents an exciting development opportunity and enhances the potential for further DSO discoveries within the tenement.
“This likewise vindicates the exploration rationale for a potential Bomi Hills analogue, which historically produced in excess of 50 million tonnes of DSO from a mine geographically located within 35 kilometres of our Mofe Creek project area.
“The potential to add value to the project and expand the project’s current resource at a low incremental cost is extremely compelling.”
Tawana is advancing its exploration program within the new tenement (MEL 1223/14) in support of its current strategy of completing low-cost, value-accretive exploration work with its in-house exploration and geological teams.
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Website: www.tawana.com.au