Tanzanian Royalty Assay Results at Depth Extended To Buckreef North 26 metres at 4.30g/t Gold, including 10 metres at 8.42g/t Gold
Tanzanian Royalty Exploration Corporation is very pleased to announce
additional assays from its current drilling program at the Buckreef Gold
Project in northwest Tanzania. These results are part of an ongoing deep
drilling program designed to confirm the mineralisation at depth and
determine the potential for increasing the size of the mineral resource
estimate published in June 2012.
Results from these assays include a wide mineralized interval of 4.30
g/t gold over 26 meters in drill hole BMDD162, including
10m @ 8.42g/t Au. In this drill hole, the gold mineralization
starts at 228 meters from surface and extends to a depth of 254 meters
below surface.
Drill holes BMDD167 also intersected significant gold
mineralization at depth with 3.13 g/t Au over 28 meters from
409m, including5.03 g/t Au over 7 meters from 422m.
Drill holes BMDD164, intersected two significant gold
mineralization at depth with 4.28 g/t Au over 9.4 meters from
347m, including11.21 g/t Au over 2 meters and 2.68g/t
Au over14 meters from 534 meters.
Drill holes BMDD161, intersected gold mineralization at depth
with 3.36 g/t Au over 2 meters from 395m.
Drill holes BMDD161W1, intersected gold mineralization at depth
with 2.82 g/t Au over 2.5 meters from 509.5m.
The intersected gold mineralization is characterized by brecciated
quartz vein and strongly silica-carbonate-pyrite alteration and is
hosted in shear zones emplaced along the fine grained basaltic sequence
and medium grained dolerite intruded by felsic porphyry units. The best
gold grades are confined within brecciated and altered dolerite with
felsic porphyry intercalation and grey quartz vein with fine
disseminated pyrite.
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 exploration program at Buckreef is now at a stage where the
drilling systematically builds on the existing model to determine the
potential to add more gold ounces to the initial resource estimate
published in June 2011. The objective is to explore the expanse of this
gold deposit while forming a better understanding of how the gold will
be extracted,? stated Joseph K. Kahama, Chairman and Chief Operating
Officer (Tanzania). 'Further, we are very excited about the results of
the deep drilling. With such wide intercepts of significant grade, we
have decided to continue to drill in order to update 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 the 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 located 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 Person, Mr. Phillip Kaniki, has 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 the Canadian Institute
of Mining, Metallurgy and Petroleum (Reg. No. 156370).
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 Corporation
James Sinclair,
1-800-811-3855
