Tanzanian Royalty Reports Higher Gold Grades at Depth Including 11 metres @ 9.20 g/t
The Company is pleased to announce the receipt of more positive assay
results from its ongoing diamond drilling program at the Buckreef Gold
Project in Tanzania, confirming continuity of the higher-grade gold
mineralization at depth.
According to Joseph K. Kahama, Chairman and Chief Operating Officer
(Tanzania), 'These higher grade zones can add considerable value to the
project economics and increase the potential to add to our future growth
profile?. He went on to say that 'drilling to date on the deeper
Buckreef extensions has validated the geological interpretation and that
the current drilling program is progressing well?.
Recent drilling highlights include:
BMDD134 encountered an intercept of 2.0 metres grading 9.61g/t gold
from 52 metres which included 1.0 metres grading 18.1g/t gold.
BMDD135 encountered an intercept of 19.0 metres grading 1.36g/t gold
from 171 metres which included 7.0 metres averaging 2.07g/t gold from
174 metres, 5 metres grading 2.21g/t gold from 230 metres which
include 1 metres averaging 4.75g/t gold.
BMDD136 encountered an intercept of 6.0 metres grading 1.23g/t gold
from 143 metres.
BMDD137 intersected 11 metres grading 9.20g/t gold from 194 metres
which includes 5 metres averaging 17.57g/t gold.
All holes are estimated to be 50-60% of true widths.
The gold mineralization occurs within sheared mafic rocks with strong
quartz-carbonate-pyrite alteration which is the main control of high
grade gold mineralization.
Sample Protocol and QA/QC
The samples chain of custody is managed by Buckreef technical team under
the supervision of Anthony Minde. Core samples are picked up from the
drill site at the end of every shift by Company personnel for direct
delivery to the secured drill core storage house locate next to the
Buckreef exploration office. The storage is accessible only by approved
personnel.
Intervals of core to be analyzed are split with a mechanized core cutter
in half with one half to be sent to the laboratory for geochemical
analysis and the remaining half to be kept in the storage for future
reference and uses. Samples to be assayed will remain under the control
of Company personnel until submitted to SGS laboratory in Mwanza for 50g
fire assay (FA) with AAS finish (0.01ppm LLD). The average percentage of
recovery core is 95%. Sample intervals of 1m or less but greater than
0.5m depended on geology.
SGS laboratory is ISO 90001 and 17025 accredited and employs a
Laboratory Information Management System for sample tracking, quality
control and reporting. In addition to SGS internal standards materials
and blank samples, the Company regularly inserts into every batch its
own certified standards, coarse blanks and duplicate samples in the
sample stream approximately every 20 samples.
Qualified Person
The Company′s Qualified Persons, Mr. Phillip Kaniki and Charles Mnguto,
have reviewed and approved the content of this news release. Mr. Phillip
Kaniki has a Bachelor of Science in Geology degree from the University
of Dar es Salaam (1997) and is a registered scientist with MAusIMM (Reg.
No 221963). Mr. Charles Mnguto has a Bachelor of Science in Geology
(Hons) degree from the University of Dar es Salaam (1995) and is
registered scientist with MAusIMM (Reg. No 307793).
Respectfully Submitted,
Joseph Kahama
Chairman and Chief Operating Officer (Tanzania)
For further information, please contact Investor Relations at
1-800-811-3855
Visit our website: www.TanzanianRoyalty.com
The
Toronto Stock Exchange and NYSE Amex Equities have not reviewed and do
not accept responsibility for the adequacy or accuracy of this release
Cautionary Note to U.S. Investors - The United States Securities and
Exchange Commission limits disclosure for U.S. reporting purposes to
mineral deposits that a company can economically and legally extract or
produce. We use certain terms on this news release, such as 'reserves?,
'resources?, 'geologic resources?, 'proven?, 'probable?, 'measured',
'indicated', or 'inferred' which may not be consistent with the reserve
definitions established by the SEC.U.S. Investors are urged to
consider closely the disclosure in our SEC filings.You can
review and obtain copies of these filings from the SEC's website at http://www.sec.gov/edgar.shtml
This news release contains certain forward-looking statements and
forward-looking information. All statements, other than statements of
historical fact, included herein are forward-looking statements and
forward-looking information that involve various risks and
uncertainties. There can be no assurance that such statements will prove
to be accurate, and actual results and future events could differ
materially from those anticipated in such statements. Important factors
that could cause actual results to differ materially from the Company's
expectations are disclosed in the Company's documents filed from
time-to-time with the British Columbia, Alberta and Ontario provincial
securities regulatory authorities.
Certain information presented in this release may constitute
'forward-looking statements? within the meaning of the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements are based on numerous assumptions, and involve known and
unknown risks, uncertainties and other factors, including risks inherent
in mineral exploration and development, which may cause the actual
results, performance, or achievements of the Company to be materially
different from any projected future results, performance, or
achievements expressed or implied by such forward-looking statements.
Investors are referred to our description of the risk factors affecting
the Company, as contained in our SEC filings, including our annual
report on Form 20-F and Registration Statement on Form F-10, as amended,
for more information concerning these risks, uncertainties, and other
factors.
Tanzanian Royalty Exploration
David Duval, 1-800-811-3855
Investor
Relations
Email: investors@TanzanianRoyalty.com
www.TanzanianRoyalty.com
or
Connecticut
Office:
Tel: 860-364-1830
Fax: 860-364-0673
or
South
Surrey Office:
Toll Free: 1-800-811-3855
Tel: 604-536-7873
Fax:
604-536-2529
