Trade Symbol: TSX: TNX AMEX: TRE
VANCOUVER, Feb. 22 /PRNewswire-FirstCall/ -- Tanzanian Royalty is pleased to announce that all assay results have been received from the Phase 5 drilling program on its Kigosi Gold Project.
The Reverse Circulation (RC) drill program was completed in December 2007 and consisted of 64 holes aggregating 3,659 metres, bringing the total drilled at Kigosi to 16,958 metres in 378 holes.
According to Tanzanian Royalty President, John Deane, "The objective of this fifth phase of drilling was to test the strike continuity of the Luhwaika reef system to the southeast on two 200 metres-spaced lines, and to drill infill holes down-dip and along strike of mineralization identified in previous drilling in the northwest area." Drilling was conducted along nine control lines with a central baseline having a strike length of 2.8 kilometres. Hole spacing was 30 metres, he noted.
The two shear zones hosting the high grade shoots have now been traced along a strike length of 2.2 kilometres. Both structures are still open towards the northwest and southeast. The gold bearing shoots within these shear zones have strike lengths ranging from 100 to 1,300 metres and most of them appear to be closing off to the northwest.
Below is a summary of the shoot statistics: -------------------------------------------------------------------------
No of Thick-
Shear Shoot RC Length Width ness Grade
System Name holes (m) (m) (m) (g/t) Comments
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Luhwaika
Main Falcon 8 +/-850 10-20 1-2 2.59-8.83 Closed
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Luhwaika
Main Bateleur 17 +/-1300 10-20 1-3 1.99-101.25 Closed
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Luhwaika
Main Eagle 7 450 10-20 1-2 2.10-6.65 Closed
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Luhwaika Open to
Main Goshawk 4 650 10 1-2 7.14-35.70 west
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Luhwaika
West Flamingo 3 300 10 1 3.96-4.46 Closed?
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Luhwaika Open to
West Pelican 7 1000? 10-30 1-2 2.77-16.46 west
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Luhwaika Open to
West Albatross 3 +/-250 10 1 4.63-20.30 west
------------------------------------------------------------------------- The shoots are separated by lower grade (<2g/t) envelopes that are between 10 and 30 metres wide along the plane of the shear zones.
A summary of the Phase 5 drill highlights is presented below: -------------------------------------------------------------------------
Hole From To Intercept Gold
No (m) (m) (m) g/t Including Comments
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Line 1510N
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KG20RC-378 75 78 3 1.25 (x) West Zone
in shoot
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Line 1750N
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KG20RC-370 41 42 1 1.83 West Zone
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KG20RC-370 74 75 1 1.04 West Zone
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KG20RC-371 60 61 1 2.29 New Zone?
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KG20RC-371 80 81 1 2.21 New Zone?
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KG20RC-371 88 93 5 .053 West Zone
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KG20RC-372 101 104 3 1.82 West Zone
in shoot
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KG20RC-373 118 119 1 1.0 West Zone
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Line 2550N
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KG20RC-360 4 5 1 3.16 gravel
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KG20RC-360 8 9 1 4.85 Main zone
in shoot
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KG20RC-361 17 19 2 1.29 Main zone
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KG20RC-363 39 41 2 0.89 Main Zone
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KG20RC-364 47 50 3 1.13 Main zone
in shoot
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KG20RC-366 64 66 2 3.93 Main zone
in shoot
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KG20RC-367 76 77 1 0.99 Main Zone
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Line 2650N
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KG20RC-314 39 40 1 1.39 West Zone
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Line 2750N
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KG20RC-341 15 17 2 1.13 West Zone
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Line 2850N
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KG20RC-319 21 23 2 2.60 West Zone
in shoot
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(x) Screen Fire Assay result on duplicate run. ------------------------------------------------------------------------- The above intersections are estimated to be very close to true
thicknesses with all the drill inclinations being -60 degrees and the dip
of the reef being -22 degrees. All holes are drilled perpendicular to the
assumed strike of the reef(s).
The sixth phase of drilling will commence shortly once maintenance on the Company's in-house rig has been completed. This phase will evaluate untested artisanal mine workings some 150 metres to the north of the Luhwaika Main Zone.
These workings are sub-parallel to the Luhwaika Main Zone and have a known strike length of 350 metres. Artisans have been mining a gravel zone in this area that is hosted within laterite material, a heavily-weathered subsoil. "This may well be the surface expression of a third shear structure," Deane suggested.
The drilling will also target the down-dip and northwest extensions to the Albatross Shoot. In addition, some in-fill drilling will also be undertaken on the Main Zone.
Analysis Fire assay with flame AAS finish was conducted by SGS Laboratories in Mwanza. Duplicates and Standards were inserted in the sample stream approximately every 20 samples. The duplicates have a correlation coefficient of 84.6%, which is accounted for by the large nugget effect within the sampling. 18% of the standards from SGS fall outside the acceptable 3rd standard deviation. Due to this, to validate the assay results 95% of the high gold samples were sent to Humac lab as a check. The Humac fire assay results gave a 71% correlation with the SGS results. The figures used in this press release are the average grades taken for between one and three duplicates run by the labs on each analysis.
Qualified Person The technical information contained in this document has been reviewed and approved by John Deane, President, Tanzanian Royalty Exploration Corporation Limited, a qualified person as defined by NI 43-101. He has an M.Sc. from the University of Cape Town (1993) and is a registered scientist with SACNASP (Reg. #400005/05).
Respectfully Submitted, "James 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 # 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 # 0-50634, for a more information concerning these risks, uncertainties, and other factors.
CONTACT: Investor Relations at 1-800-811-3855; Visit our website: http://www.tanzanianroyaltyexploration.com/ DATASOURCE: Tanzanian Royalty Exploration Corporation CONTACT: Investor Relations at 1-800-811-3855; Visit our website: http://www.tanzanianroyaltyexploration.com/
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