Detailed Review by Tanzanian Royalty of Historical Data at Buckreef Project Reveals Significant Drill Hole Assays in Eastern Porphyry Area
Tanzanian Royalty is pleased to report that it has completed a detailed
review of historical drilling programs on its Buckreef Gold Mine
Re-development project in Tanzania.
The review included an analysis of a 10 hole Phase 1 Reverse Circulation
(RC) drill program completed in 2002 on the Eastern Porphyry Prospect by
Ashanti Goldfields.
This drill program was subsequently followed up with a 40 hole Phase 2
drill program conducted by Iamgold Tanzania several years later which
served to confirm the geological potential in the area.
Tanzanian Royalty is now planning a Phase 3 RC drilling program and a
Phase 1 Diamond Drilling program on the Eastern Porphyry Prospect to
establish the strike and down-dip continuity of the mineralization as
part of its effort to generate additional resources of economic interest
on the Buckreef Gold Project.
The table below is a summary of the significant fire assay results from
these two preliminary drilling programs:
| Eastern Porphyry RC Assay Highlights | |||||||||||
| Hole_ID | Sample Depth (m) | Width (m) | Assay Grade (g/t) | Comment | |||||||
From | To | ||||||||||
NLRC013 | 41.00 | 42.00 | 1.00 | 3.75 | Phase 1 RC Drilling-ASHANTI | ||||||
NLRC026 | 93.00 | 94.00 | 1.00 | 3.43 | Phase 1 RC Drilling-ASHANTI | ||||||
NLRC026 | 116.00 | 120.00 | 4.00 | 2.07 | Phase 1 RC Drilling-ASHANTI | ||||||
NLRC027 | 11.00 | 13.00 | 2.00 | 5.67 | Phase 1 RC Drilling-ASHANTI | ||||||
NLRC027 | 69.00 | 83.00 | 14.00 | 0.77 | Phase 1 RC Drilling-ASHANTI | ||||||
NLRC028 | 52.00 | 54.00 | 2.00 | 2.06 | Phase 1 RC Drilling-ASHANTI | ||||||
NLRC029 | 62.00 | 65.00 | 3.00 | 2.18 | Phase 1 RC Drilling-ASHANTI | ||||||
NLRC030 | 53.00 | 55.00 | 2.00 | 8.81 | Phase 1 RC Drilling-ASHANTI | ||||||
NLRC031 | 14.00 | 18.00 | 4.00 | 0.95 | Phase 1 RC Drilling-ASHANTI | ||||||
NLRC031 | 52.00 | 57.00 | 5.00 | 1.07 | Phase 1 RC Drilling-ASHANTI | ||||||
NLRC032 | 24.00 | 25.00 | 1.00 | 3.87 | Phase 1 RC Drilling-ASHANTI | ||||||
NLRC032 | 54.00 | 66.00 | 12.00 | 0.91 | Phase 1 RC Drilling-ASHANTI | ||||||
NLRC033 | 60.00 | 70.00 | 10.00 | 1.02 | Phase 1 RC Drilling-ASHANTI | ||||||
NLRC033 | 74.00 | 75.00 | 1.00 | 2.51 | Phase 1 RC Drilling-ASHANTI | ||||||
BMRC392 | 40.00 | 41.00 | 1.00 | 2.93 | Phase 2 RC Drilling-IAMGOLD | ||||||
BMRC392 | 104.00 | 112.00 | 8.00 | 0.73 | Phase 2 RC Drilling-IAMGOLD | ||||||
BMRC393 | 25.00 | 43.00 | 18.00 | 6.58 | Phase 2 RC Drilling-IAMGOLD | ||||||
BMRC394 | 3.00 | 4.00 | 1.00 | 3.52 | Phase 2 RC Drilling-IAMGOLD | ||||||
BMRC394 | 17.00 | 18.00 | 1.00 | 3.69 | Phase 2 RC Drilling-IAMGOLD | ||||||
BMRC394 | 67.00 | 70.00 | 3.00 | 0.99 | Phase 2 RC Drilling-IAMGOLD | ||||||
BMRC395 | 85.00 | 90.00 | 5.00 | 1.35 | Phase 2 RC Drilling-IAMGOLD | ||||||
BMRC499 | 17.00 | 18.00 | 1.00 | 2.81 | Phase 2 RC Drilling-IAMGOLD | ||||||
BMRC499 | 83.00 | 89.00 | 6.00 | 0.86 | Phase 2 RC Drilling-IAMGOLD | ||||||
BMRC499 | 94.00 | 98.00 | 4.00 | 0.64 | Phase 2 RC Drilling-IAMGOLD | ||||||
Qualified Person
The Company's Qualified Persons are Mr. Peter Tererai Zizhou, the
General Manager and Mr. Phillip Kaniki, the Resource Manager of
Tanzanian Royalty Exploration Corporation Limited. Mr. Zizhou has a
Master of Science (Exploration Geology) degree from the University of
Zimbabwe (2000) and is a registered scientist with SACNASP (Reg.
No.400028/08). Mr. Kaniki has a Bachelor of Science (Geology) degree
from the University of Dar es Salaam (1997) and is a registered
scientist with AusIMM (Reg. No.221963/07). Mr. Kaniki has reviewed and
validated the RC drill-hole data for this particular prospect.
Analysis
Fire assay with flame AAS finish was conducted by SGS Laboratories in
Mwanza, Tanzania on both drilling programs. A total of 5,000 RC samples
were collected during the drilling programs. A combined total of 113
commercial blanks, 112 standards, and 138 field duplicates were inserted
in the sample stream as part of a large drilling program combining
various prospects around Buckreef.
Respectfully Submitted,
Joseph Kulwa Kahama
Chairman and Chief Operating Officer
For further information, please contact Investor Relations at
1-800-811-3855
Visit our website: www.TanzanianRoyaltyExploration.com
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.
Certain information presented in this release may constitute
'forward-looking statements? within the meaning of the Private
Securities Litigation Reform Act of 1995.Such
forward-looking statements are based on numerous assumptions, and
involve known and unknown risks, uncertainties and other factors,
including risks inherent in mineral exploration and development, which
may cause the actual results, performance, or achievements of the
Company to be materially different from any projected future results,
performance, or achievements expressed or implied by such
forward-looking statements.Investors are referred to our
description of the risk factors affecting the Company, as contained in
our Form 20-F, File No. 001-32500, for more information concerning these
risks, uncertainties, and other factors.
Tanzanian Royalty Exploration
David Duval
Ph: 604-980-1669
dkduval@gmail.com
or
Vancouver
Office:
Toll Free: 1-800-811-3855
Tel: (604) 669-5598
Fax:
(604) 669-8915
Email: investors@TanzanianRoyaltyExploration.com
Website:
www.TanzanianRoyaltyExploration.com