Tanzanian Royalty Exploration Corporation
Trenching Program at Tanzanian Royalty's Kibara Gold Project Returns Excellent Values and Confirms Presence of Porphyry Intrusive
Vancouver, Canada (ots/PRNewswire)
Trading Symbols:
TSX: TNX
AMEX: TRE
An extensive trenching program on the Company's Kibara Gold Project has reaffirmed the significance of previously reported gold values and confirmed the existence nearby of a potentially large porphyry intrusive that may have played a role in the dissemination of gold values in the area
Approximately 160 metres of trenching was completed during February on the eastern side of the Nyakona Hill discovery area near where several grab samples last year returned values up to 6.0 g/t gold and 13% copper.
"The mineralized occurrences at Nyakona Hill appear to be structurally controlled and bear a strong copper-gold association that is analogous to Barrick's Bulyanhulu mine and the Chocolate Reef deposit in Tanzania," said the Company's Tanzania-based President, John Deane.
A total of 21 samples were collected from 16 trenches at Nyakona Hill and submitted for analysis. Samples were taken from all trenches containing quartz veining and/or gossanous (weathered) rock with malachite (copper carbonate hydroxide) staining. At least three samples were taken from each trench, along with samples from the footwall and hanging wall side of the vein.
The veins range from a few centimetres to 30 centimetres in thickness and form a zone that is approximately 10 metres wide. They are hosted within a southwest trending volcanic sequence of rocks (tuff) that have a shallow dip to the southeast. Trenching to date has exposed the vein system over a distance of 180 metres and has identified a quartz feldspar porphyry intrusive in close proximity to the system.
Highly significant assay results were received from the trenching program, with 20 samples returning values exceeding 1.22 g/t gold. The highest values were 14.8 g/t, (trench no. KB132TR02), and 10.20 g/t (trench no. KB132TR05). Other significant gold values with their respective trenches in brackets include 5.02 g/t (KB132TR005), 5.78 g/t (KB132TR016) and 5.53g/t (KB132TR013).
All anomalous results were reported from the quartz vein/gossan with malachite staining. The hanging and footwall rock samples returned values between 0.01 and 0.83 g/t gold, suggesting that footwall alteration (a sign of hydrothermal activity) has taken place outside the vein system which is significant in the context of the potential size of the mineralized system.
"Discoveries such as this show the wisdom of our regional exploration approach and validate the Company's strategy of maintaining a major land position right in the heart of one of the world's most prolific gold belts," said Jim Sinclair, Chairman and CEO of Tanzanian Royalty Exploration.
"As we develop our exploration portfolio over the coming months and years, I expect to see similar discoveries covering a range of commodities including gold, diamonds and nickel," he concluded.
The table below outlines all significant gold assays received. Base metal values are outstanding.
Table 1: Significant Results from Kibara Trenching.
TRENCH SAMPLE Au
ID NO. (g/t) REMARKS
KB132TR09 J-8102 3.40 Quartz vein/gossan with malachite - 20cm
width
KB132TR05 J-8105 5.02 Quartz vein/gossan with malachite/boxworks
- 30cm width
KB132TR05 J-8107 10.20 Gossan with malachite - 5cm width
KB132TR04 J-8110 3.60 Quartz vein/gossan with malachite - 30cm
width
KB132TR03 J-8113 1.55 Quartz vein/gossan - 20cm width
KB132TR03 J-8115 1.22 Quartz vein/gossan with malachite - 5cm
width
KB132TR16 J-8120 5.78 Quartz vein/gossan with malachite - 20cm
width
KB132TR02 E-10946 14.8 Quartz vein/gossan with malachite - 30cm
width possible float
KB132TR02 E-10949 1.34 Quartz vein/gossan with malachite (90%) in
feldspar porphyry - 5cm width
KB132TR12 J-4938 3.24 Quartz vein/gossan with malachite; boulder
KB132TR12 J-4939 2.38 Quartz vein/gossan with malachite - 5cm
width
KB132TR12 J-4942 1.46 Quartz vein/gossan with malachite - 5cm
thick
KB132TR14 J-4949 3.65 Quartz vein/gossan with malachite - 2cm
thick
KB132TR14 J-4950 1.74 Quartz vein/gossan with malachite - 2cm
thick 40% of sample was tuff
KB132TR08 E-12302 1.31 Quartz vein/gossan with malachite - 5cm
thick
KB132TR13 E-12306 2.03 Quartz vein/gossan with malachite - 5cm
thick
KB132TR13 E-12307 2.33 Quartz vein/gossan with malachite - 5cm
thick
KB132TR13 E-12308 5.53 Quartz vein/gossan with malachite - 5cm
thick
KB132TR15 E-12310 4.55 Thin (less than 2cm) quartz vein/gossan
with malachite
KB132TR15 E-12311 2.89 Thin (less than 2cm) quartz vein/gossan
with malachiteBiogeochemistry Program Completed
The Company recently completed a large regional biogeochemistry (BGC) program over the project area which encompasses a geographical area of 377.6 square kilometres. This program will hopefully fingerprint the extent of this mineralized zone, and facilitate a decision on drilling which will be made once the results from the BGC program have been received. These results should be available in the next few months.
Qualified Person
The Company's Qualified Person is Mr. John Deane, the President of Tanzanian Royalty Exploration Corporation Limited. He has an M.Sc. from the University of Cape Town (1993) and is a registered scientist with SACNASP (Reg. No.400005/05).
Analysis
All samples were sent to Humac Laboratories in Mwanza, Tanzania for gold analysis by the fire assay method with atomic absorption finish (Au 4 method).
Respectfully Submitted,
"James E. Sinclair"
James E. Sinclair
Chairman and Chief Executive Officer
The Toronto Stock Exchange and American Stock Exchange 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 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.
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Contact:
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