VANCOUVER, Dec. 17, 2014 /CNW/ - TANZANIA MINERALS CORP. (the "Company" or "TZM") (TSX-V: TZM) (FRANKFURT: TM0.F) is pleased to provide a corporate update ahead of the holiday season.
The year 2014 proved to be a significant one for Tanzania Minerals. Through challenging commodity and financial markets the Company has acquired excellent advanced stage exploration assets in Igurubi and Msasa. These two projects, with Mrangi, give the Company a strong portfolio within its strategic geography of Tanzania.
The Company's geological team started exploration work on the Igurubi property last month. Initial exploration activities include reconnaissance geological mapping and geochemical sampling of outcropping and subcropping auriferous quartz veins currently being worked by artisanal miners, and soil sampling over targeted trends.
The current exploration program has seen company geologists conduct a limited sampling program over the existing auriferous vein system in an effort to characterize the gold content, mineralogy and alteration. A total of six rock and four soil samples were collected and dispatched to SGS Mwanza for geochemical analysis. The results from this limited geochemical survey are expected early in the New Year and will be used to refine the proposed detailed multi-element XRF soil sampling program and ground spectrometer surveys. The detailed surveys will take place over the known areas of gold mineralization, and the possible strike extensions (and parallel structures) on recently acquired licences HQ-P28715 and HQ-P28716. Samples collected include soil over the bedrock gold workings, over the granite host rock, and soil overlying ferruginous sediments (BIF or pyrite-rich shale). The rock samples from the vein system are either discrete quartz veins, or stringers within the sericite alteration halo that is present along the 5.2 km strike of the known mineralization.
If favourable results are returned, the next phase of the work program will be the aforementioned soil and spectrometry surveys, combined with a detailed ground magnetics survey. This work will be implemented in Q1 2015.
In addition Management will look to announce additional work programs in the first quarter of 2015. In the meantime, the team will wind down for the holiday season around December 20th and resume activities in January 2015. The recent accomplishments of 2014 have set the stage for a strong start to 2015.
The Board would like to thank its shareholders for their continued support and investment. The Board sincerely wishes everyone a happy holiday and we look forward to working with you in 2015.
About Tanzania Minerals Corp.
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. 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.
On behalf of the Board of Directors of Tanzania Minerals Corp.
Robert Dzisiak, President and 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., Robert Dzisiak, President and CEO, Tel: (204) 421-1999, Fax: (604) 669-3877, www.tanzaniaco.com