Tawana Resource upgrade due October, page-4

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El Jefe

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28/09/17

13:23

Post #: 27519507
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Originally posted by UY Scuti ↑

Looking forward to the Resource and Reserve upgrade next month, it's going to be "Significant". Here's a recap of the last drilling update and expectations (Aug 02, 2017):

extensional step-out drilling at the Bald Hill project, Western Australia has yielded several significant lithium and tantalum discoveries. The discoveries are likely to add significantly to the current Resource base.

Tawana Resources Managing Director Mark Calderwood stated: The footprint of the lithium and tantalum mineralised pegmatites has been expanded significantly in the last two months with exciting discoveries to the south east of the Boreline pits and below the starter pit.

The results are expected to add significantly to Inferred Resources and the current focus is on infill drilling to convert 6Mt of in pit and near pit Inferred Resources to Indicated Resources in preparation of a Resource and Reserve upgrade in October.

We remain on track to become Australias next lithium producers with our first shipment planned for the first quarter of 2018. A further 96 exploration Reverse Circulation and Diamond drill holes totalling 14,819m were completed between 16 May and 15 July 2017. Assays have been received for 123 holes since the May drilling update (refer ASX announcement dated 25 May 2017 / SGX announcement dated 24 May 2017).

Ref: http://intel.rscmme.com/report/Tawana_Resources_NL_Bald_Hill_2-8-2017

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Tawana are the ugly duckling of ASX Lithium plays right now.
This upgrade better be the catalyst the company is waiting for to promote the company and start pumping big expansion plans like all the other players are doing.
To be fair they can start promoting expansion without having the resource defined so here's hoping it will be a good end to 2017.

TAW Price at posting: 22.5¢ Sentiment: Buy Disclosure: Held
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