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:

@@start.t1@@      -------------------------------------------------------------------------
      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/t

    Because 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.


    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;

    To request a free copy of this organization's annual report, please go to  http://www.newswire.ca and click on Tools for Investors./

ots Originaltext: Tanzanian Royalty Exploration Corporation
Im Internet recherchierbar: http://www.presseportal.ch

For further information: Investor Relations at +1-800-811-3855; Visit
our website: www.TanzanianRoyaltyExploration.com

Weitere Meldungen: Tanzanian Royalty Exploration Corporation

Das könnte Sie auch interessieren: