Tan Range Exploration Corporation
Tan Range Announces Sample Results from Kibara Project in Tanzania
Vancouver, British Columbia (ots/PRNewswire)
The Company is pleased to announce preliminary sampling results from the Nyakona Hill area on its Kibara project in the Lake Victoria goldfields of northwest Tanzania.
Following up on gold anomalies previously recognized by regional BLEG sampling and on high copper and gold values from one grab sample in March and June of 2004, field crews collected 12 grab samples, mostly as float, which were submitted for analysis. Many of these samples were noted in the field to have high copper concentrations.
In addition, a 100m x 100m grid was established over the initial copper- gold anomaly and soil samples were collected for multi-element analysis. Assessment of this multi-element data is still in progress but maximum values of 0.198 ppm and 2760 ppm were observed for gold and copper respectively.
The grab sampling yielded the following assay results:
Sample No Gold Copper
(grams per tonne) (%)
J-6733 3.33 18.15
J-6734 2.20 less than 1%
J-6735 1.45 1.25
J-6736 0.73 less than 1%
J-6737 2.80 17.15
J-6738 1.25 less than 1%
J-6739 0.03 less than 1%
J-6740 3.44 6.61%
J-6741 3.27 5.70%
J-6742 0.15 less than 1%
J-6743 0.02 less than 1%
J-6744 0.09 less than 1%According to the Company's President, John Deane, "the occurrence on Nyakona hill would appear to be structurally-hosted rather than stratigraphic," while observing that a copper-gold association occurs at Barrick's Bulyanhulu mine and Chocolate Reef deposit.
Jim Sinclair, the Company's Chairman and CEO, described the results as "highly encouraging" while noting that follow-up work will include a biogeochemistry survey and drilling.
"This is one of many high potential targets that we intend to aggressively evaluate immediately after our new drill rig arrives in early 2005," he said.
Qualified Person
The Company's Qualified Person is Mr. Peter Chadwick, M.Sc. University of Cape Town (1993), a registered scientist with SACNASP (Reg. No. 400082/93) and a Fellow of the Society of Economic Geologists. A geologist with 21 years post graduate experience, which includes 5 years in technical support at the University of Cape Town, 3 years in base metal exploration in northern Namibia, 9 years in mining and exploration in the Archaean terranes of Zimbabwe, and 4 years as an Independent Consultant in East and Southern Africa. Mr. Chadwick has reviewed this press release, and all analytical results.
Analysis
All rock samples were analyzed by fire assay with an ICP-MS finish, with ore grade values undergoing fire assay with an AA finish. Soils were analyzed for gold by fire assay with an ICP-MS finish, and up to 34 elements using AR and ICP-AES. All analyses were undertaken by ALS Chemex in Brisbane, Australia.
On Behalf of the Board of Directors
"James E. Sinclair"
Chairman and Chief Executive Officer
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release
Cautionary Note to U.S. Investors - The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on this news release, such as "measured", "indicated", and "inferred" "resources" that the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 20-F, File No. 0-50634, which may be secured from us, or from the SEC's website at http://www.sec.gov/edgar.shtml.
Contact:
For further information: please contact Investor Relations at
+1-800-811-3855. Visit the Tan Range website: www.tanrange.com; To
request a free copy of this organization's annual report, please go
to http://www.newswire.ca and click on reports@cnw