The extended area contains the most significant lithium results to date, including:
- 57 metres at 1.62% lithium from 161 metres;
- 38 metres at 1.48% lithium from 134 metres; and
- 24 metres at 1.29% lithium from 135 metres.
The Bald Hill Mine is owned by Alliance Mineral Assets (SGX:40F) with Tawana earning a 50% interest.
Historically, the project area has been explored and mined for tantalum and tin at the Bald Hill and St John prospects.
The Bald Hill Mine comprises of four mining leases, 16 exploration/prospecting licences and five applications totalling 791 square kilometres.
Tawana and Alliance are in the advanced stages of completing a feasibility study with off-take pricing, metallurgical and process engineering aspects of the study completed.
The results of the study are expected to be released within two weeks.
As part of its joint venture arrangement with Alliance, Tawana must spend a minimum of $7.5 million on exploration, evaluation and feasibility by 31 December 2017.
Tawana’s share price has more than doubled since the start of 2017, last trading at $0.245.