The latest annual report released on 12/03/04 has a wealth of...

The latest annual report released on 12/03/04 has a wealth of detail on the background and current status of all the TAW diamond exploration areas.

The key interest is in South Africa and below are some extracts. Note that Daniel is one of a potential 25 targets located by Falcon in a proven diamond field hidden by 20 metres of calcrete.

This TAW play will require patience but TAW is well positioned with top people running the company. It is still exploration but a promising stasrt has been made.

"Tawana's interests are in the Kimberley region, which is part of the Kaapvaal Craton. This region has been the prime diamond producing region of South Africa with a history going back to the 1870s when the commencement of hard rock mining of diamond pipes was the beginning of the modern diamond mining industry.

Tawana's activities are concentrated in the 10,000 km2 Limeacre district, a plateau with a capping of 25-30 m of calcrete. To the East of it, in the area around Kimberley, is a swarm of kimberlite pipes and a number of working or mined-out diamond mines. There are also significant kimberlite occurrences to the West of the plateau.

BHP Billiton has developed the FALCON airborne gravity gradiometer technology....It can "see through" the calcrete overburden to bedrock. As such it is eminently suited to the exploration of the Limeacre plateau.

Numerous well-defined gravity anomalies were discovered of which 25 were deemed to be of high prospectivity. Twenty-four of them, from their shape and size (ranging from 4 to 24 hectares), could represent kimberlite targets. Last, but not least, was a very large elongate anomaly, beginning 6 kms from the Finsch diamond mine and trending south easterly. The anomaly was strongly suggestive of a concealed alluvial system, or palaeostream.