Tawana Resources will undertake a review of potential financing and strategic partnership options to develop its Mofe Creek Iron Ore Project in Liberia
The company has recently completed a maiden 2,500 metre reverse circulation (RC) drill programme at the project, which has an exploration target of 1.4bn cubic metres of friable iron formation.
A review will allow Tawana Resources to explore all potential funding and development scenarios with the aim of maximising shareholder returns.
The Mofe Creek project is located in one of West African country’s premier iron ore mining districts, and is 10km alongside from the Bomi Hills iron ore mine in capital Monrovia.
The project, about 20km from the coast, is likely to see construction of a haul road for transportation of products from mainland to the coast and trans-shipment via barge or conveyor to deeper water for shipment.
Other possible infrastructure solution is a road or railway to the deepwater Port of Monrovia, a 100km-long sealed road, that will connect the licence area to the capital city.
A decommissioned standard gauge iron ore railway alignment will also be developed from the Bomi Hills Mine to the Port of Monrovia, 20km east from the easternmost magnetic anomaly.
