VANCOUVER, March 26, 2012 /CNW/ - Tanzania Minerals Corp. (the "Company"), (TSX-V:TZM) (FRANKFURT: TM0.F) is pleased to provide an operational update with respect to exploration at its Mrangi in the Lake Victoria Goldfields area of Tanzania. Diamond and reverse circulation drilling totalling 11,271 metres (in 62 drillholes) was completed on the property in 2011 to determine the cause of arsenic and gold soil anomalies detected by traditional soil geochemistry exploration and multiple element anomalies detected using a portable XRF. The drilling reported in this release focused on secondary priority targets on the licence related to a strike extension of the vein swarm associated with the Colonial-era Phoenix mine and metal anomalism associated with structural breaks present in the west of the licence. Results from initial drilling were reported in a press release dated October 14th, 2011 and February 28th. Initial gold exploration on the Company's Mrangi East, Mrangi South and four licences in the Kagera Region are also on-going.
Kal Matharu, CEO of Tanzania Minerals Corp. commented, "I am delighted that the latest exploration results indicate the presence of a seven metre wide gold mineralized zone at Mrangi. The presence of elevated lead and zinc in the area means we have to redefine our exploration strategy, but our follow-up work will help determine the dimensions and continuity of this zone."
This release summarizes the laboratory assay data for all fourteen reverse circulation drill holes (MRRC27-32, 46, 48-51, and 55-56), and resulted in a total of 339 gold and base metal assays. All the holes were logged, mineralized intervals recorded, and hand-held portable XRF analysis performed. Intervals that were mineralized or showed signed of As, Cu, Pb or Zn enrichments were sent for preparation at ALS Mwanza, Tanzania, prior to being shipped and analysed at OMAC Laboratories, in Ireland, and the results are tabulated in Table 1. No intervals from drillholes MRRC52, 53, 57 or 58 were sent for analysis owning to the lack of apparent mineralization or base metal anomalism. Drillholes MRRC28, 31, 32, 46, 48, 50 and 56 contained only trace (<70 ppb) concentrations of gold.
Table 1. Notable intercepts recorded in the press release.
|Hole||From (m)||To (m)||Interval (m)||Au Grade (g/t)||Ag Grade (g/t)||Cu Grade (%)||Zn Grade (%)||Mineralization|
|MRRC27||125||126||1||0.56||-||-||-||1m @ 0.561 g/t Au|
|MRRC29||139||142||3||0.17||-||0.28||-||3m @ 0.17 g/t Au and 0.28% Cu|
|MRRC30||142||143||1||-||-||-||-||1 m @ 0.43% As|
|MRRC49||78||85||7||0.15||7m @ 0.15% Cu, no other metal enrichment|
|RRC51||39||40||1||0.36||-||-||-||1m @ 0.36 g/t Au|
|MRRC54||105||106||1||0.31||-||-||-||1 m @ 0.31 g/t Au|
|MRRC55||140||147||7||0.53||9.78||0.04||0.15||7 m @ 0.53 g/t Au, 9.78 g/t Ag and 0.15% Zn|
|including||140||141||1||2.68||51.6||0.19||0.17||1 m @ 2.68 g/t Au and 51.6 g/t Ag|
|NB. All elements were analyzed in all intervals submitted to the assay lab.||"-" is used to denote trace quantities of the element.|
NB. All elements were analyzed in all intervals submitted to the assay lab. "-" is used to denote trace quantities of the element.
Location of the drillholes mentioned in this press release illustrated on a simplified geology map. Bold drillholes correspond to the drilling intercepts noted in Table 1.
The gold concentration of the majority (91 samples) of the 339 assays performed were typically at or below the analytical detection limit of 0.002 ppm, and 233 samples containing less than 0.10 ppm gold. The remaining 15 samples ranged from 0.10 ppm to 2.68 ppm (g/t) gold over intervals of one metre. The elevated gold concentrations correspond to drill intercepts where variable proportions of disseminated pyrite and stringer chalcopyrite are present, often with thin quartz-carbonate veins and veinlets, proximal to major ENE-trending interpreted faults (MRRC27, 29 and 30). The highest gold concentration were noted from drillhole MRRC55 which intersected 0.53 g/t Au and 9.78 g/t Ag over 7 m in a Zn-rich (0.15% Zn) altered rhyolite: including a 1 m interval containing 2.68 g/t Au and 51.6 g/t Ag at a depth of 140 m.
Previous shallow soil geochemistry sampling noted a dispersed 500 m gold anomaly (with concentrations up to 261 ppb Au) corresponding to the contact between the mafic volcaniclastics to the north and the rhyolite in the south close to the collar locations of MRRC55 and MRRC52. Also, a 3 m interval in MRRC39 within the rhyolitic tuff unit thought to cap the rhyolite sequence contained 0.33 g/t Au (Press Release dated 25th January, 2012). Due to low trace metal concentrations (analysed by handheld XRF) the upper part of drillhole MRRC53 was not assayed for gold. The company is now in the process of assaying this hole since it is likely that the weathering in the region has leached base-metals from the upper parts of the hole. However, it is also possible that MRRC53 was drilled too far to the south to intercept the gold-bearing zone running through MRRC55.
The area between MRRC53 and MRRC39, following the mafic volcaniclastic - rhyolite contact over a distance of 1300 m, is now the main focus of exploration activity on the Mrangi licence. A program of deep overburden sampling is currently being planned to further constrain drilling targets. Drilling is conditional on the results of this sampling program.
Initial gold exploration on the Company's Mrangi East, Mrangi South and four licences in the Kagera Region are all on-going. Shallow soil sampling and lithogeochemical prospecting is underway in each of the licences, and the Company has commissioned Murphy Geological Services to undertake a remote sensing study on the Kagera licence block. The remote sensing study will be used to refine structural- and alteration-based gold targets.
EurGeol Dr. Sandy M. Archibald, PGeo, 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: "Location of the drill holes. (CNW Group/Tanzania Minerals Corp)". Image available at: http://photos.newswire.ca/images/download/20120326_C8063_PHOTO_EN_11598.jpg
For further information:
Tanzania Minerals Corp.
President and CEO
Tel: (204) 942-3191
Fax: (204) 944-0513