Tanzanian Royalty Exploration Corporation
Tanzanian Royalty's RC Drill Program Completed at Luhala - Diamond Drilling Contracts Sent Out for Tender
Vancouver, Canada (ots/PRNewswire)
Tanzanian Royalty Exploration Corporation is pleased to announce that all assay results have been received from the Phase 6 drill program completed in April on its Luhala Gold Project in the Lake Victoria Greenstone Belt of Tanzania.
This latest phase of drilling included 15 Reverse Circulation (RC) drill holes representing some 986 metres of drilling.
All the RC holes were drilled in the Main Zone as no access was available to further test the Kiginga Anomaly, a new discovery, due to heavy rainfall. Three holes were drilled on the eastern limb of the Main Zone and 12 holes on the southern limb.
"We are enormously pleased with the broad distribution of gold values identified at Kisunge and intend to vigorously pursue further delineation of the mineralized zones discovered there to date," said Tanzanian Royalty Chairman and CEO, Jim Sinclair.
Recent assays for the Kisunge Main Zone include the following:
Kisunge Main Zone
Hole No. From To Intercept Gold Including
(metres) (metres) (metres) (grams/tonne)
LRC-115 51 59 8 1.06
LRC-116 45 49 4 0.78 1m (at) 1.45 g/t
LRC-117 37 40 3 0.99
LRC-119 10 18 8 1.91 6m (at) 2.35 g/t
LRC-120 19 24 5 1.91 4m (at) 2.29 g/t
LRC-121 10 13 3 1.82 2m (at) 2.39 g/t
LRC-122 21 24 3 1.08
LRC-123 16 18 2 1.09
LRC-126 32 43 11 1.38 5m (at) 2.33 g/t
LRC-127 1 11 10 1.31 3m (at) 2.50 g/t
LRC-127 53 55 2 1.26
LRC-128 17 21 4 1.43 2m (at) 2.36 g/tBecause of the nature of such drilling techniques, it is not possible to determine the true width and orientation of the mineralized intersections reported in this release.
It has now been determined that the southern limb to the Main Zone represents a thinner, lower grade portion of the gold mineralization established there to date, with the higher grades typically being around the 2g/t level. This mineralization extends for a strike of approximately 200 metres, according to Tanzanian Royalty President, John Deane, who adds: "It has further been established that the main ore shoot on the Main Zone is on the eastern limb."
Deane also notes that the strike length of this shoot is unknown as access in the south is limited and "diamond drilling will be required to confirm any extension in this direction." The known strike length to date is approximately 200 metres, with grades and thicknesses of up to 29 metres averaging 2.66 g/t including 13 metres averaging 3.77 g/t. This limb is known to dip steeply at approximately 65 degrees, however, the plunge of the ore shoot has yet to be determined.
To view a copy of the map, please visit http://files.newswire.ca/77/Luhala.doc
Future Plans
Due to the shallow dip of the southern limb, further RC drilling will be conducted to test the down-dip extension to the mineralization. Diamond drilling will be required on the eastern limb to test the strike of the mineralization to the south, and to drill a series of shallow (150 metres) diamond drill holes to determine the plunge to the shoot. This drilling is expected to begin in July after the rainy season is over.
Diamond drilling tenders have been sent out for a minimum of 1,000 metres of NQ-sized core drilling at Luhala which could be expanded depending on results. In addition, the Company has sent out tenders for approximately 1,700 metres of NQ core drilling on its Itetemia property which adjoins Barrick Gold's Bulyanhulu mine, one of the largest underground gold producers in the world.
Analysis
Fire assay with flame AAS finish was conducted by SGS Laboratories in Mwanza, Tanzania. Duplicates and Standards were inserted in the sample stream sent to SGS. The duplicates have a positive correlation coefficient of 99.2%. In addition, 95% of the standards fall within the acceptable (5%) margins of error.
Qualified Person
The Company's Qualified Person is Mr. John Deane, the President of Tanzanian Royalty Exploration Corporation Limited. He has a M.Sc. from the University of Cape Town (1993) and is a registered scientist with SACNASP (Reg. No.400005/05).
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.
For further information: Investor Relations at +1-800-811-3855; Visit our website: www.TanzanianRoyaltyExploration.com;
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Contact:
For further information: Investor Relations at +1-800-811-3855; Visit
our website: www.TanzanianRoyaltyExploration.com