VANCOUVER, Nov. 14, 2013 /CNW/ - Tanzania Minerals Corp. (the "Company"
or "TZM"), (TSXV: TZM) (FRANKFURT: TM0.F) is pleased to provide an
update on exploration activity at the Company's Mufindi property in
Statement from the CEO
Kal Matharu, CEO of Tanzania Minerals Corp. said, "The Company continues
to work on its portfolio and continues to explore for new
opportunities. The initial XRF soil geochemistry results from Mufindi
are positive for gold pathfinder elements from an area not previously
explored for gold. A total of 101 soil samples were submitted to the
assay lab, and results are expected within three weeks."
The licence is located approximately 470 km from Dar es Salaam, 100 km
southwest of the town of Iringa and 150 km east of the Lupa Goldfield
in southern Tanzania, and covers an area of approximately 44 km2. It is underlain by the Archean rocks that comprise of poorly studied
rocks of the Tanzanian Craton. These rocks include highly metamorphosed
feldspathic gneisses, amphibolites and granites. Three gold showings
are documented in the same package of rocks within 65 km of the Mufindi
licence, however no gold mineralization has been identified previously
from the property. Gold mineralization from the Lupa Goldfield is
structurally controlled and typically is associated with metabasites,
and felsic gneiss and schists. The auriferous quartz veins usually
contain pyrite, chalcopyrite, molybedenite, galena and sphalerite.
The field program at Mufindi consisted of geological mapping,
lithogeochemical sampling, stream sediment geochemistry, and
multi-element XRF analysis. The multi-element XRF sampling program was
carried out using a line spacing of 400 m and a sample spacing of 200
m. In areas where Cu, Pb, Zn anomalism was recorded the grid spacing
was reduced to 100 m by 100 m. A total of 816 samples were collected
and analysed by the XRF instrument. Two areas of coincident Cu, Pb and
Zn anomalism, defined as concentrations greater than one standard
deviation from the mean, were noted. These areas correspond to a
northwest-trending, possibly fault-bound, amphibolite unit, and a
highly siliceous biotite gneiss located at the point of interception of
two mapped fault lines. Both areas are also coincident with anomalous
iron concentrations in shallow soil. A total of 101 soil samples from
the two areas were submitted to the assay lab, and results are expected
in the next two to three weeks.
IR Contract Update
Effective November 1, 2013, investor relations provider, Trident
Financial, will provide its services to the Company at a rate of $1000
per month with a thirty (30) day cancellation policy.
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.
Dr. Sandy M. Archibald, PGeo, EurGeol, Consultant Geologist, Aurum
Exploration Services, is the Qualified Person who supervised the
preparation of the technical data in this news release.
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.
Image with caption: "Geology map of the northern portion of the Mufindi licence showing areas of elevated copper, lead and zinc in soil samples. (CNW Group/Tanzania Minerals Corp)". Image available at: http://photos.newswire.ca/images/download/20131114_C7398_PHOTO_EN_33362.jpg
SOURCE: Tanzania Minerals Corp
For further information:
Tanzania Minerals Corp.
President and CEO
Tel: (204) 942-3191
Fax: (204) 944-0513
Tel: (604) 681-8669
Toll Free: 1 (877) 681-8669