TANZANIA MINERALS CORP. - OPERATIONAL UPDATE

VANCOUVER, Feb. 8 /CNW/ - Tanzania Minerals Corp. (the "Company"), (TSX-V: TZM) (FRANKFURT: CA87600X1087) is pleased to announce it has contracted Tandrill Limited of South Africa to carry out a drill programme on the Mrangi property.  The Company anticipates drilling approximately 3,000 metres of core holes and, depending on results, a 10,000 metre follow up Reverse Circulation programme.  The Company anticipates the start of the programme in approximately two weeks with the first priority target along-strike extension of the Phoenix mine vein swarm as outlined in the previous press release dated November 29th, 2010.

The Company has also commissioned New Resolution Geophysics (NRG) of South Africa to fly a 3,800 line kilometre regional airborne geophysical survey over the licences controlled by the Company on the Musoma Mara greenstone belt located in the North Eastern Region of Tanzania.  The two week survey is expected to start in three months and the interpreted results expected to follow five weeks after the survey completion.

The existing detailed historic regional geophysics has been reinterpreted on the adjacent property which hosted the past producing Phoenix gold mine.   Parallel structures approximately 600 metres to the north of the known gold vein(s) have been identified from the historic geophysics and appear to extend onto the northern part of the Mrangi licence.  A reconnaissance ground geophysics programme is underway to determine if the structures are present on this section of the Mrangi licence, prior to drilling and commencement of the high resolution airborne study.  These results will be integrated with the soil geochemical survey results which were completed in 2010.  The results of this survey are expected in the third week of February 2011.  The Company is also conducting additional trenching and sampling on banded iron formation (BIF)-hosted gold mineralization that returned assays of 0.33 g/t to 3.78 g/t Au from grab samples.  The BIF-hosted gold mineralization will be tested during the drill programme to determine the grade, thickness and depth continuity of mineralization.

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.

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 Minerals Corp. 

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:

Kal Matharu
Director and CEO
(604) 568-1558

Profil de l'entreprise

Tanzania Minerals Corp

Renseignements sur cet organisme


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.