Tanzanian Royalty Exploration Corporation (the 'Company?) is pleased to
announce that it has received further assays from its ongoing drilling
program at the Buckreef Gold Project in Tanzania. Results from diamond
drill holes BMDD146 to BMDD153 were received from Buckreef Main zone and
BMDD157 from Eastern Porphyry.
Drilling highlights include:
BMDD146 encountered an intercept of 2.5 metres grading 1.96g/t gold
from 176 metres which included 1.0 metres grading 5.62g/t gold from
199 meters
BMDD147 encountered intercepts of 30 metres grading 3.89g/t gold from
177 metres which included 7.0 metres averaging 7.23g/t gold from189
metres and 5 metres grading 5.33g/t gold from 181 metres; 7.0 metres
grading 3.23g/t gold which include 2 metres averaging 5.56g/t gold
from 235m; and 2 metres grading 7.36g/t Au from 156 metres
BMDD148 encountered an intercept of 2.0 metres grading 1.57g/t gold
from 109 metres
BMDD149 intersected 5 metres grading 5.98g/t gold from 176 metres
which includes 2 metres averaging 10.69g/t golf from 178 metres
BMDD151 intersected 11 metres grading 2.98g/t gold from 210 metres
which include 2.9 metres grading 5.9g/t gold from 212.1 metres
BMDD152 intersected 1.7 metres grading 4.80g/t gold from 149.3 metres
and a wide zone of 12 metres averaging 1.39g/t gold from 194 metres
which include 1.2 metres grading 6.17g/t Au from 194.8 metres
BMDD153 intersected 4.10 metres grading 9.20g/t gold from 226.9 metres
which includes 2.07 metres averaging 15.71g/t gold from 229.23 metres
BMDD157 intersected 4 metres grading 3.01g/t gold from 35 metres which
includes 1.0 metres averaging 6.45g/t gold from 39 metres; 3 metres
grading 3.14g/t Au from 106 metres
All intersections reported here are core lengths and may not represent
true width but the true width is estimated to be 50 ? 60%.
The gold mineralization at the Buckreef and Eastern Porphyry target is
hosted in shear zones emplaced along the fine grained basaltic sequence,
medium grained dolerite and strongly altered felsic porphyry units,
associated with gold-bearing quartz-sericite-carbonate-pyrite alteration
assemblages. The best gold grades are confined within brecciated and
altered dolerite with felsic porphyry intercalation and grey quartz vein
with fine disseminated pyrite.
According to Joseph K. Kahama, Chairman and Chief Operating Officer
(Tanzania), 'Drilling has intersected a number of mineralized zones of
significant thicknesses at vertical depths down to 200m below surface
and confirmed the presences of gold-bearing structures. With the current
exploration program, recently focusing on testing the upside potential
on the deeper levels of the deposit, we will increase our knowledge with
respect to continuity and grade distribution of these zones. This will
serve to further increase our level of confidence associated with the
Buckreef gold project and, we expect, increase our resource base
meanwhile, all mineralized zones below a vertical depth of 200m below
surface remain largely untested.?
Sample Protocol and QA/QC
The samples chain of custody is managed by Buckreef technical team under
the supervision of Anthony Minde. Core samples are picked up from the
drill site at the end of every shift by Company personnel for direct
delivery to the secured drill core storage house locate next to the
Buckreef exploration office. The storage is accessible only by approved
personnel.
Intervals of core to be analyzed are split with a mechanized core cutter
in half with one half to be sent to the laboratory for geochemical
analysis and the remaining half to be kept in storage for future
reference and uses. Samples to be assayed will remain under the control
of Company personnel until submitted to SGS laboratory in Mwanza for 50g
fire assay (FA) with AAS finish (0.01ppm LLD). The average percentage of
recovery core is 95%. Sample intervals of 1m or less but greater than
0.5m depended on geology.
SGS laboratory is ISO 90001 and 17025 accredited and employs a
Laboratory Information Management System for sample tracking, quality
control and reporting. In addition to SGS internal standards materials
and blank samples, the Company regularly inserts into every batch its
own certified standards, coarse blanks and duplicate sample in the
sample stream approximately every 20 samples.
Qualified Person
The Company′s Qualified Persons, Mr. Phillip Kaniki and Charles Mnguto,
have reviewed and approved the content of this news release. Mr. Phillip
Kaniki has a Bachelor of Science in Geology degree from the University
of Dar es Salaam (1997) and is a registered scientist with MAusIMM (Reg.
No 221963). Mr. Charles Mnguto has a Bachelor of Science in Geology
(Hons) degree from the University of Dar es Salaam (1995) and is
registered scientist with MAusIMM (Reg. No 307793).
Respectfully Submitted,
Joseph Kahama
Chairman and Chief
Operating Officer (Tanzania)
For further information, please contact Investor Relations at
1-800-811-3855
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for the adequacy or accuracy of this
release
Cautionary Note to U.S. Investors - The United States Securities and
Exchange Commission limits disclosure for U.S. reporting purposes to
mineral deposits that a company can economically and legally extract or
produce. We use certain terms on this news release, such as 'reserves?,
'resources?, 'geologic resources?, 'proven?, 'probable?, 'measured',
'indicated', or 'inferred' which may not be consistent with the reserve
definitions established by the SEC.U.S. Investors are urged to
consider closely the disclosure in our SEC filings.You can
review and obtain copies of these filings from the SEC's website at This news release contains certain forward-looking statements and
forward-looking information. All statements, other than statements of
historical fact, included herein are forward-looking statements and
forward-looking information that involve various risks and
uncertainties. There can be no assurance that such statements will prove
to be accurate, and actual results and future events could differ
materially from those anticipated in such statements. Important factors
that could cause actual results to differ materially from the Company's
expectations are disclosed in the Company's documents filed from
time-to-time with the British Columbia, Alberta and Ontario provincial
securities regulatory authorities.
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 SEC filings, including our annual
report on Form 20-F and Registration Statement on Form F-10, as amended,
for more information concerning these risks, uncertainties, and other
factors.
