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Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	SRR
Latest Price:	0.06 (-7.69% )
52-week High:	0.27
52-week Low:	0.06
Market Cap:	27.10M

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Shaw River Manganese Full Shaw River Manganese profile here

Shaw River Manganese (ASX: SRR), formerly Shaw River Resources, is a manganese company with a pipeline of manganese projects. Shaw River’s exploration is targeted at high-grade manganese deposits highlighted by the recent acquisition of the Otjozondu Manganese Project (Otjo) in Namibia.

First production from Otjo is expected in 2012. Projects at Baramine, Pilbara and Butre, Ghana are advancing with drill programs underway or completed.

Shaw River Resources exercises Ghana manganese option

Tuesday, February 23, 2010

Manganese explorer Shaw River Resources Limited (ASX Code: SRR) has exercised its option to acquire Mwana Africa's 80% interest in a manganese project located 30km west of the bulk port of Takoradi in the mining friendly Republic of Ghana in West Africa.

The option agreement has been varied by mutual agreement such that Shaw River will now issue MWA 980,000 ordinary shares which will be held in three months voluntary escrow lieu of the previously agreed cash exercise price.

Vincent Algar, Shaw River Managing Director, said Butre was strategically located close to excellent infrastructure and a world class manganese project at Nsuta.

"By exercising this option and taking an 80% stake, we are adding to Shaw River’s manganese project pipeline," Mr Algar said.

The Butre Project is strategically located 30km on sealed roads from the bulk port of Takoradi, and 200km west of the Capital Accra. Takoradi currently ships around one million tonnes per annum of manganese ore from the Nsuta mine operated by Palmary Enterprises.

Previous exploration on this project has focused on the gold mineralisation located on the project.

The Butre Project contains the Jimra Bepo manganese occurrence, which takes the form of a large 1km long, 114m high hill, typical of manganese occurrences throughout southern Ghana and West Africa. Shaw River has completed a 943m, 24 hole aircore drilling program to generate an understanding of the manganese occurrences.

Ghana and West Africa have long been one of the key suppliers of high quality manganese oxide ore for the steel market producing over 1 million tonnes per annum which represents over 2% of world manganese ore production.

Shaw River is an aggressive manganese focused explorer, currently operating five Pilbara manganese projects, and holding an 80% stake in a Ghanaian manganese project.

In 2010 Shaw River’s active manganese exploration program will include drilling at Butre (Ghana), 701 Mile (Pilbara), Skull Springs (Pilbara) and Baramine (Pilbara). These drill programs will February 2010. Shaw River will also maintain its active manganese project acquisition strategy as it continues to build its manganese project pipeline.

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