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Tanzanian Royalty Reports High Grade Assay Results at Buckreef Project including 3.5 Metres @ 35.54

Discussion in 'Jukwaa la Siasa' started by nngu007, Aug 7, 2012.

  1. nngu007

    nngu007 JF-Expert Member

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    Aug. 6, 2012, 9:00 a.m. EDT

    Tanzanian Royalty Reports High Grade Assay Results at Buckreef Project including 3.5 Metres @ 35.54 g/t Au, 7 Metres @ 18.47 g/t Au, 4 Metres @ 14.47 g/t Au and 17 Metres @ 5.26 g/t Au


    South Surrey, British Columbia CANADA, Aug 06, 2012 (Filing Services Canada via COMTEX) -- Tanzanian Royalty Exploration Corp (TNX - TSX, TRX - NYSE-AMEX),is pleased to announce the release of new assay results from its current deep drill program at the Buckreef Gold Project in Tanzania targeting the deep extension potential. These results are part of the ongoing drill program designed to determine the potential for expanding the size of the mineral resource estimate published in June 2011.

    The results of the systematic drilling in the deep extension of Main zone and North zone demonstrate that this zone continues to deliver interesting results at depth as indicated below:

    * Drill hole BMDD166 returned an interval of 7.66 metres at 5.56g/t gold, including 3 metres at 9.35g/t gold and a second zone of 7 metres grading 18.47g/t Au, including 3.5 metres at 35.54g/t Au and a third zone of 7 metres at 1.81g/t Au.


    * Drill hole BMDD170 returned an interval of 8 metres grading 4.07g/t Au, including 3 metres at 7.91g/t Au and a second zone of 6.9 metres at 2.69g/t Au.


    * Drill hole BMDD171 returned an interval of 30 metres grading 1.36g/t Au, including 1 meter at 5.02g/t Au and a second zone of 4 metres at 2.16g/t Au from 339m.


    * Drill hole BMDD172 returned an interval of 10 metres grading 6.7g/t Au, including 4 metres at 14.47g/t Au from 315m.


    * Drill hole BMDD174 returned an interval of 42.1 metres grading 3.23g/t Au, including 17 metres at 5.26g/t Au from 376m.

    The intersection reported here is a core length and may not represent true width but the true width is estimated to be 50 - 60%.

    The gold mineralization at the Buckreef is hosted in shear zones emplaced along the fine grained basaltic sequence, medium grained dolerite and strongly altered felsic porphyry units, associated with gold-bearing quartz-sericite-carbonate-pyrite alteration assemblages. The best gold grades are confined within brecciated and altered dolerite with felsic porphyry intercalation and grey quartz vein with fine disseminated pyrite.

    "We are pleased with these higher grade assay results from core drilling at Buckreef" commented Joseph K. Kahama, Chairman and Chief Operating Officer (Tanzania). "These results show that our drilling has been successful and has provided the first opportunity to sample the deep mineralization at Buckreef," he further added. "This drill intercept has confirmed the width and gold grade of a greater than 12m wide hydrothermal veined mineralized system with a well developed silica-sericite-carbonate-pyrite alteration.

    This will serve to further increase our level of confidence associated with the Buckreef gold project as we continue exploration to determine the potential for increasing our resource base. Meanwhile, all mineralized zones below a vertical depth of 350m below surface remain largely untested."

    Sample Protocol and QA/QC

    The samples chain of custody is managed by the Buckreef technical team under the supervision of Anthony Minde. Gold analyses reported in this release were performed by standard fire assay using a 50-gram charge with atomic absorption finish (0.01ppm LLD) and a gravimetric finish for assays greater than 10 grams per tonne. All assays were performed by SGS laboratory in Mwanza. Sampling and analytical procedures are subject to a comprehensive quality assurance and quality control program. The QA-QC program includes duplicate samples, blanks and analytical standards.


    Intervals of core to be analyzed are split with a mechanized core cutter in half with one half to be sent to the laboratory for geochemical analysis and the remaining half to be kept in the storage for future reference and uses.

    SGS laboratory is ISO 90001 and 17025 accredited and employs a Laboratory Information Management System for sample tracking, quality control and reporting.

    Qualified Person

    The information in this press release has been reviewed and approved by Mr. Phillip Kaniki. Mr. Kaniki has a Bachelor of Science in Geology degree from the University of Dar es Salaam (1997), and is a registered scientist with the Canadian Institute of Mining, Metallurgy and Petroleum (Reg. No. 156370).
    Respectfully submitted,

    Joseph Kahama

    SOURCE: WALL STREET JOURNAL
    http://www.marketwatch.com/


     
  2. nngu007

    nngu007 JF-Expert Member

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    Buckreef Mine in Tanzania has a HIGH GRADE AU (GOLD)

    What are they going to give our Government as their share? please not 2%

    And the workers salaries; In Zambia low Income for the Miners started @ equivalent to British Pounds 205.00

    CCM Government should act now... and do something to the masses... Not everyday Oh there is no Money for the

    Budget... But there is Money to shut down the Electicity; Bank in Swiss Account; Prince's Gas Stations etc
     
  3. Kongosho

    Kongosho JF-Expert Member

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    hakuna VG?
     
  4. King'asti

    King'asti JF-Expert Member

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    They are acting sir, grabbing whatever they can put their hands, eyes and even ears on!
    Damn this government!!!
     
  5. M

    Mkandara Verified User

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    It's too late for WAJINGA to claim anything!
     
  6. kookolikoo

    kookolikoo JF-Expert Member

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    tunafungwa na mikataba mibovu!
     
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