Tanzanian Royalty Reports More Higher Gold Grades Zone at Depth 12m at 5.22g/t Au, including high grade and best intercept of 5m @ 7.31g/t Au
Tanzanian Royalty Exploration Corporation is pleased to announce that it
has received further assays from its ongoing deep drilling program at
the Buckreef Gold Project in Tanzania. This hole is part of a program of
drilling designed to extend and confirm the mineralisation potential at
depth.
Key points:
Highlight is 12 metres grading 5.22g/t gold from 336 metres in drill
hole BMDD158 which include 5 metres grading 7.31g/t gold from 341
metres. This is the best result from deep drilling sampling at
Buckreef.
The intersected gold zone is characterized by brecciated quartz vein
and strong silica-sericite-carbonate-pyrite alteration.
The deep drilling program has provided the first opportunity to sample
the deep mineralisation at Buckreef and confirmed the width and grade
of gold mineralization at depth.
The intersection reported here is a core length and may not represent
true width but the true width is estimated to be 50 ? 60%.
The gold mineralization at the Buckreef is hosted in shear zones
emplaced along the fine grained basaltic sequence, medium grained
dolerite and strongly altered felsic porphyry units, associated with
gold-bearing quartz-sericite-carbonate-pyrite alteration assemblages.
The best gold grades are confined within brecciated and altered dolerite
with felsic porphyry intercalation and grey quartz vein with fine
disseminated pyrite.
'We are pleased with this higher grade assay results from core drilling
at Buckreef,? commented Joseph K. Kahama, Chairman and Chief Operating
Officer (Tanzania). 'These results show that our drilling has been
successful and has provided the first opportunity to sample the deep
mineralisation at Buckreef.' He further added, 'This drill intercept has
confirmed the width and gold grade of greater than 12m wide hydrothermal
veined mineralized system with a well developed
silica-sericite-carbonate-pyrite alteration. This will serve to further
increase our level of confidence associated with the Buckreef Gold
Project and, we expect, increase our resource base meanwhile, all
mineralized zones below a vertical depth of 350m below surface remain
largely untested.?
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. Sample 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 sample 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
James Sinclair, 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
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Surrey Office:
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