Provides Operational Update
VANCOUVER, April 26 /CNW/ - Tanzania Minerals Corp. (the "Company"),
(TSX-V:TZM) (FRANKFURT: TM0.F) is pleased to announce that it has
acquired two new properties in the Musoma district, northern Tanzania.
The properties are tender reference no: HQ100C/M100-86 and
PL6853/2011. Both properties have visible gold and greenstone belt
showings and active artisanal mining.
HQ100C/M100-86 is directly adjacent to the privately held Buhemba open
pit gold mine. Buhemba is a historic producer, re-opened in 2003. In
2005, Buhemba is reported to have produced 2,075 kilograms (73,185 oz)
of gold at a cash cost of $384 per troy ounce of gold. The mine was
shut down in 2006. (Recently, at the 2010 PDAC, the Tanzanian Ministry
of Mines estimated a 1.5Moz deposit at 2.5g/t)
The main Mrangi project is adjacent to the past-producing 300,000 oz
Katario Mine. PL6853/2011 lies to the East of the Mrangi property, and
exhibits the same geology as Katario. With these property acquisitions
the Company looks to expand its asset base in the target zone and
corner the mega shear zone that is believed to be contiguous throughout
A total of eight diamond drill holes have been completed on the
Mrangi Licence for a total depth of 1600 metres. The Company now has
multiple teams on the ground, drilling, surveying, mapping and
preparing for geophysical, geochemical and trench sampling. The Company
is proud to be employing over 45 people working on various areas of the
Mrangi project. There are now two drills on the property.
A portable XRF unit has arrived on site and is currently being used to
geochemically analyse the core at 0.5 m intervals to characterize the
mineralization encountered. When the analysis is complete the second
set of core will be split and sent to the assay lab.
The portable unit will also be used to carry out a number of tightly
spaced soil lines parallel to the drilling fence. This will be used to
accurately determine the surface geochemical signature of the
mineralization encountered during drilling. The XRF unit will then
complete infill soil sampling over soil anomalies determined by
traditional soil geochemistry in the west of the licence, prior to
drilling in this area.
"I am pleased to increase our landholdings in areas directly adjacent to
past producing mines. Our work continues at a strong pace and the
geology we are encountering is very encouraging," said Kal Matharu,
President and Chief Executive Officer of Tanzania Minerals Corp.
The technical information in this news release has been prepared in
accordance with the Canadian regulatory requirements set out in
National Instrument 43-101 and reviewed on behalf of the Company by Jim
Walchuck, P.Eng., a qualified person and a Director of Tanzania
Additional information on Tanzania Minerals Corp., including technical
reports and other public documents are available on SEDAR at www.sedar.com or on the Company's website at www.tanzaniaco.com.
Tanzania Minerals Corp. is an emerging junior exploration company
trading on the TSX Venture Exchange. The company has an extensive
portfolio of projects in Tanzania.
On behalf of the Board of Directors of Tanzania Minerals Corp.
Kal Matharu, President & CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Statements included in this announcement, including statements
concerning our plans, intentions and expectations, which are not
historical in nature are intended to be, and are hereby identified as,
"forward looking statements". Forward looking statements may be
identified by words including "anticipates", "believes", "intends",
"estimates", "expects" and similar expressions. The Company cautions
readers that forward looking statements, including without limitation
those relating to the Company's future operations and business
prospects are subject to certain risks and uncertainties that could
cause actual results to differ materially from those indicated in the
forward looking statements.
SOURCE Tanzania Minerals Corp
For further information:
Tanzania Minerals Corp.
President and CEO
Tel: (604) 568-1558
Fax: (604) 683-2484