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Tan Range Exploration Corporation

Drilling by Tan Range Exploration at Luhala Project in Tanzania Yields Significant Discovery in Stratabound, Shear-hosted, Gold Environment

Vancouver, British Columbia (ots/PRNewswire)

The Company is
pleased to report Reverse Circulation (RC) drill results from a
significant new gold discovery on its wholly-owned Luhala Property in
the Lake Victoria Goldfields of Tanzania.
According to Tan Range President, John Deane, the discovery has
the geological signature of a "stratabound, shear-hosted, gold
deposit" and exhibits good correlation between the higher grade zones
identified to date. For non-professional interested parties, this
type of signature is considered most desirable by the industry for
such a deposit.
At this early stage of exploration, the main control for the gold
appears to be silicification along a felsic volcanic sequence of
argillite, rhyolite, felsic flows, massive sulphides and
volcaniclastics, he noted. For the average stockholder's
understanding, this type of host is by industry standards generally
very positive.
The shallow, 14-hole drill program was designed to validate a new
structural model for a large surface gold-in-soil geochemical anomaly
that was identified earlier on the Luhala property. It is the
intention of the Company to proceed with a more extensive drilling
program as soon as its newly purchased and more powerful RC/RAB
drilling rig is delivered at which time this specific area in Luhala
as well as other potential gold targets within this wholly-owned
license will be covered.
This model is similar to that used at AngloGold Ashanti's 4.3
million ounce (proven) Geita deposit where low angle reverse faulting
appears to be the dominant control for gold mineralisation. At
Luhala, where these flat- lying faults intersect a felsic volcanic
sedimentary sequence of rocks appears to be the best loci for
mineralised gold occurrences within dilation structures. The higher
grade zones encountered in the recent drill program are associated
with highly silicified argillite and volcaniclastics.
In total, three individual target areas were tested at Luhala with
several holes terminating in economically significant gold
mineralisation. Deeper testing of the various drill targets,
including the holes that bottomed in gold mineralisation, was
precluded by the limited depth capacity and mechanical availability
of the RC drill rig which was only able to drill efficiently to
approximately 50 meters.
For this phase of drilling, holes were oriented in a northwesterly
direction perpendicular to those completed in earlier programs which
were drilled to the north and south. The relatively shallow dipping
nature of the discovery suggests that the gold-bearing oxide zone has
considerable potential down dip and along strike, a hypothesis that
will be tested with the Company's new drill rig which has the
capacity to drill deeper with less downtime.
James E. Sinclair, the Chairman and CEO of Tan Range, said the new
drill rig "will speed up the evaluation of drill targets and allow
the Company to utilise its world-class data base and extensive
infrastructure in Tanzania to the fullest."
"I am quite pleased to be able to report such positive results so
early in our planned 50,000 meter drill program covering gold,
diamond and nickel prospects. We will also look for a property that
fits our capability to develop for our own account albeit through a
wholly-owned subsidiary so as to preserve our main thrust as a
mineral management royalty company."
Significant intersections from the recent drill program are
presented in the following tables:
Kisunge West Zone
Drilling in Kisunge West was intended to follow up on good gold
values returned in trenches in April and from numerous drill holes.
Six RC holes were drilled on this target including two (LRC-30 and
LRC-25) that were drilled on contingency fences following good assays
reported on LRC-19.
    Kisunge West Zone
    Hole No.       From       To      Intercept     Grade
                                      Length        g/t
    LRC-19         0          40      40            2.4
    including      30         38      8             4.5
    LRC-20         2          41      39            1.7
    including      28         35      7             3.9
                   57         60      3             1.1
                   65         70      5             1.3 (end of hole)
    LRC-21         26         40      14            1.8
    including      33         37      4             2.7
                   62         66      4             1.1
    LRC-22         46         58      12            0.9
    LRC-25         10         36.5    26.5          1.1
    including      28         34      6             2.1
Kisunge Central Zone
The Kisunge Central Zone is the largest target area, and the drill
program was designed to test values returned from four trenches
earlier this year. At least six holes were planned and two
contingencies, however, only four holes were completed because of
poor drill rig performance.
    Kisunge Central Zone
    Hole No.       From       To      Intercept     Grade
                                      Length        g/t
    LRC-23         1          13      12            1.4
    including      5          9       4             3.3
    including      23         25      2             1.1 (end of hole)
    LRC-26         3          11      8             4.48
    LRC-27         11         19      8             1.9
    including      13         17      4             3.0
    LRC-28         2          8       6             1.3
                   20         34      14            1.3
    including      26         29      3             2.1
Kisunge East Zone
Drilling at Kisunge East was designed to test significant values
from RAB holes LRB-97, 98, 99, 105, 188 and 245. In total, three RC
holes were drilled on two separate targets approximately 350 meters
apart with the most significant results presented in the following
table:
    Kisunge East Zone
    Hole No.       From       To      Intercept     Grade
                                      Length        g/t
    LRC-24         52         56      4             3.3 (end of hole
                                                         target A)
    LRC-29         44         49      5             0.85 (target B)
Kisunge Hill, which is approximately 100 meters high, hosts an
oxidation zone down to at least 80 meters and has three known
structures on it with the potential to host mineral resources.
Positive results support the implementation of a follow-up drill
program on a minimum 50 meter grid spacing in the immediate future,
with a specific emphasis on the down dip potential of established
gold zones in the Kisunge Hill region.
"At this juncture we see immediate potential to block out an
inferred resource of several hundred thousand ounces although the
final size and shape of the broader deposit will require confirmation
drilling on a much tighter hole spacing than exists today. What we
envision at the moment is an oxide deposit with a higher grade core
that is not untypical of known oxide-type occurrences in Tanzania,"
Sinclair stated.
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. He is a geologist with 20 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 3
years as an Independent Consultant in East and Southern Africa. Mr.
Chadwick has reviewed this press release, and all analytical results.
Analysis
Fire assay with flame AAS finish conducted by SGS Laboratories in
Mwanza, Tanzania. Duplicates and Standards were inserted in the
samples sent to SGS. No serious discrepancies were noted with the
duplicates having a positive correlation coefficient of 0.998.
On Behalf of the Board of Directors
"James E. Sinclair"
James E. Sinclair
Chairman and Chief Executive Officer
For further information, please contact Investor Relations at
+1-800-811-3855 Visit the Tan Range website: www.tanrange.com
The Toronto Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release
Cautionary Note to US Investors: The United States Securities and
Exchange Commission permits US 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 US registered
companies from including in their filings with the SEC. US 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.
To request a free copy of this organisation's annual report,
please go  to http://www.newswire.ca and click on reports@cnw

Contact:

For further information: please contact Investor Relations at
+1-800-811-3855, Visit the Tan Range website: www.tanrange.com

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  • 20.09.2004 – 20:58

    Tan Range Exploration Corporation Appoints new President

    Vancouver (ots/PRNewswire) - Form 20-F, File No. 0-50634 Trade Symbol TSX: TNX Email: investors@tanrange.com Website: www.tanrange.com VANCOUVER, September 20 /PRNewswire/ -- The Company is pleased to announce the appointment of Mr. Jonathan G. Deane, an eight year employee of the Company, to the position of President of Tan Range Exploration Corporation. As Vice President Exploration in ...