Photo by: Bloomberg
PERTH (miningweekly.com) – ASX-listed iron-ore hopeful Tawana Resources has been granted an additional tenement immediately adjacent to its Mofe Creek iron-ore project, in Liberia.
Tawana has taken full ownership of the licence area, terminating a previous joint venture agreement with Konblo Bumi, following a review of the geological prospectivity of the area and the obvious synergies of extended mineralisation potential for the project.
Tawana MD Len Kolff said that the acquisition of the tenement allowed for the potential to expand and extend current exploration targets, as previous surveys have highlighted the potential for prospective itabirite deposits within the new licence area and along string from the existing Mofe Creek deposits.
“The potential to add significant additional mineralisation within a 3 km to 8 km trucking distance from the currently defined maiden resource footprint is of significant value to the ongoing development of the project,” Kolff said.
The Mofe Creek scoping study had estimated that the project could deliver between 1.2-million and 1.5-million tons a year of iron-ore, for start-up capital of $53-million.
A prefeasibility study into the project was currently under way.