Tanzanian Royalty Exploration Corporation
Tanzanian Royalty Reports More Encouraging Gold Results from Luhala Project
Vancouver, Canada (ots/PRNewswire)
The remaining assay results from the Phase 4 Reverse Circulation (RC) drilling program on the Company's Luhala Gold Project have been received and they confirm that two of its principal zones - Kisunge Central and Kisunge West - join up as predicted.
James E. Sinclair, Chairman and CEO of Tanzanian Royalty Exploration, describes the results as "extremely encouraging" and he notes that drilling has resumed at Luhala in order to confirm the distribution of gold values within the target area.
The primary objective of the current drill program is to define a drill indicated resource at Luhala, he said, adding that, "While more drilling remains to be carried out, we are encouraged by the potential to define a bulk minable gold deposit that could be developed in a cost effective and timely fashion."
Sinclair also pointed out that within its peer group Tanzanian Royalty Exploration is undertaking one of the largest exploration programs on the African continent. "Utilising our own drilling equipment and internally- developed exploration protocols including biogeochem, we are giving shareholders broad exposure to potential mineral discoveries in one of the most prolific gold belts in the world," he said.
The Phase 4 drill program at Luhala was completed in February and included 40 RC holes representing some 2,519 metres of drilling. The holes were drilled from the Kisunge Central, West, Northeast and Southeast Zones. The Kisunge Central and West Zones now combine to form what is being called the Kisunge Central Zone which has been drilled on a 40 metre by 25 metre grid pattern.
One hole was drilled on the newly discovered Kiginga anomaly to determine the strike of the mineralisation that was discovered during a Rotary Air Blast (RAB) drill program towards the end of 2005.
Drilling of the Kisunge East Zones has confirmed the presence of a higher grade zone of rocks that extends from the Kisunge Northeast Zone to west of the Kisunge Southeast Zone. These rocks form a steeply plunging anticlinorium, a regional fold (bend) structure that is composed of smaller folds. This whole zone is now referred to as the Kisunge Main Zone.
Mapping of one particular rock unit (chert) within this zone indicates a strike potential of approximately 1,200 metres with a steep (-85 degree) dip. The next phase of drilling will be directed at mapping this zone and determining the gold potential within it.
"We have plenty of targets to keep us busy and having our own drilling equipment and drill crew provides us with enormous flexibility in the field," said the Company's president, John Deane. "It's a recipe for success that few other companies can match," he added. Significant results for Kisunge Central and Kisunge Main Zones are summarised in the tables below. Because of the nature of such drilling techniques, it is not possible to determine the true width and orientation of the mineralised intersections reported in this release.
Kiginga Discovery
Further drilling is planned to determine the potential of the Kiginga Discovery where one RC hole returned the following result:
Kisunge Central Zone:
From To Intercept Length Gold
Hole No. (metres) (metres) (metres) (grams/tonne) Including
LRC-65 8 17 9 2.44
48 62 14 1.86 4m (at) 3.27 g/t
LRC-69 3 12 9 1.20
30 39 9 1.01 1m (at) 4.44 g/t
LRC-70 28 45 17 1.68 3m (at) 3.72 g/t
56 63 7 3.76 4m (at) 6.00 g/t
LRC-71 73 77 4 1.43
LRC-80 7 26 19 2.65 5m (at) 5.18 g/t
LRC-81 8 30 22 2.15 5m (at) 3.04 g/t
LRC-84 1 12 11 2.61
LRC-86 4 14 10 2.01
LRC-87 11 16 5 1.56
29 45 16 1.64 4m (at) 3.88 g/t
LRC-90 9 12 3 1.57
LRC-94 1 12 11 2.82
Kisunge Main Zone:
From To Intercept Length Gold
Hole No. (metres) (metres) (metres) (grams/tonne) Including
LRC-62 9 21 12 4.40 7m (at) 6.83 g/t
LRC-74 23 44 21 2.31
LRC-75 14 43 29 2.66 13m (at) 3.79 g/t
LRC-76 4 19 15 1.46 5m (at) 2.44 g/t
LRC-79 27 31 4 3.18
LRC-80 7 26 19 2.65 5m (at) 5.18 g/t
LRC-81 8 30 22 2.15 5m (at) 3.04 g/t
LRC-84 1 12 11 2.61Kiginga Anomaly:
From To Intercept Length Gold
Hole No. (metres) (metres) (metres) (grams/tonne)
LRC-77 39 42 3 1.30To view a copy of the map, please visit http://files.newswire.ca/77/Luhala.doc.
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
Fire assay with flame AAS finish was conducted by SGS Laboratories in Mwanza, Tanzania. Duplicates, Standards and Blanks were inserted in the sample stream sent to SGS. The duplicates have a positive correlation coefficient of 97.5%. In addition, 98% of the standards fall within the acceptable (5%) margins of error. The majority of the blanks are all within acceptable limits.
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 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.
Contact:
For further information: please contact Investor Relations at
+1-800-811-3855. Visit our website:
www.TanzanianRoyaltyExploration.com. To request a free copy of this
organisation's annual report, please go to http://www.newswire.ca and
click on Tools for Investors.