PERTH (miningweekly.com) - ASX-listed gold developer Tawana Resources has signed a heads of agreement to acquire the gold rights at the Cape Mount gold project, in Liberia.

The project comprises two exploration licences over 1 996 km² of highly prospective tenement area, which has been subject to previous exploration, including soil sampling, trenching and drilling.

The project hosts numerous target areas, including Soso Hill/Fula Camp, Butter Hill and Gondoja.

“This is a fantastic result for Tawana to secure the gold rights to such a large, contiguous and highly prospective Archean land package right next door to Aureus Mining’s 1.57-million ounce New Liberty project,” said Tawana MD Len Kollf on Wednesday.

“We have drill-ready targets on our ground with reconnaissance rock chips returning up to 53.8 g/t gold, we have high-priority soil sampling targets along strike from known mineralisation with coincident artisanal workings, and we have an excellent opportunity to blanket sample the entire 1 996 km² to rapidly access for additional targets,” he added.

“Add to this our recently announced Mofe Creek high-grade direct shipping ore magnetite project, and Tawana is in a strong position with projects in two high-value and highly sought after minerals,” Kollf said.

Tawana said on Wednesday that fieldwork would immediately start at the Soso Hill/Fula Camp trend to plan initial drilling. Separate field teams will, in parallel, start soil sampling programmes over the Butter Hill and Gondoja target areas.

Drilling was expected to start during the second or third quarter of this year.
 

To subscribe to Mining Weekly's print magazine email subscriptions@creamermedia.co.za or buy now.