Tanzania Minerals Acquires New Properties Expanding Mrangi Gold Project

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 Mrangi.

Mrangi Update

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 Minerals Corp. 

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"

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.
Kal Matharu
President and CEO
Tel: (604) 568-1558
Fax: (604) 683-2484

Organization Profile

Tanzania Minerals Corp

More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890