Tawana Resources is aiming to develop a high margin, low tonnage magnetite iron ore operation in Liberia that could generate significant cash flows. The company has acquired 100% of the Mofe Creek Iron Project in western Liberia, which covers 285 square kilometres.

Mofe Creek is located 25 kilometres from the coast, adjacent to a historical heavy-haul iron ore railway, and 65 kilometres from the Monrovia deep sea port on well maintained, sealed roads.

Large discrete magnetic anomalies over a 35 kilometer strike at Mofe Creek are comparable to 15 kilometres of strike at the historical Bomi Hills iron ore mine, 10 kilometres along strike.

Production rates from Bomi Hills were poorly documented, however the Liberian government has estimated production at 50 million tonnes of high grade direct shipping ore magnetite at grades of 64 to 66% iron, 4 to 6% silica and 0.75 to 1.5% aluminium.

Initial reconnaissance sampling at Mofe Creek has returned results of 49.2% iron, 27.3% silica and 1.1% aluminium.

Outcrops of iron formation and massive magnetite concentrations were also observed in the field, with individual massive magnetite accumulations up to meter scale enhancing the possibility of hypogene, massive magnetite bodies.

Tawana has started detailed field mapping and rock chip sampling, targeting high-grade magnetite direct shipping ore and weathered, soft magnetite iron formation for beneficiation.

(Sourced from www.proactiveinvestors.com.au)