Tawana Resources (ASX: TAW) is set to trade higher after a new iron ore discovery at the Gofolo prospect within its Mofe Creek Iron project in Liberia, West Africa.
Potential direct shipping ore intersections, over a 1 kilometer strike, include 4 meters at 40.2% iron from surface and 62 meters at 38.8% iron from surface, including 18 meters at 49.5% iron from 16 meters.
With only 8 kilometers of a 65 kilometer interpreted prospective strike drilled to date, the projects upside potential is substantial.
Resource drilling has also been completed at the Zaway prospect, the third potential Mofe Creek Project future mine, with assays being received and under review.
A metallurgical testwork program at ALS laboratories in Perth is scheduled to commence during February.