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Tanzanian Royalty Identifies High Grade Gold Shoots In RC
drilling Program at Kigosi Project
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Tanzanian Royalty is pleased to announce that a Phase 3 Reverse
Circulation (RC) drill program has confirmed the presence of several
high grade gold shoots within two previously established shear zones at
the Company's Kigosi Project in the Lake Victoria Goldfields of
Tanzania.
According to Tanzanian Royalty President, John Deane, "We can now
confirm the existence of up to six high grade shoots within the two
reef systems reported last year, namely the Luhwaika Main and Luhwaika
West Reefs."
"These are the highest grade drill results reported so far from the
Kigosi Project which the Company is advancing at a very rapid pace"
noted Tanzanian Royalty's Chairman and CEO, Jim Sinclair,
Among the higher grade gold intercepts was 2.0 metres grading 34.25 g/t
(1.0 oz/ton) in hole KG20RC-244; 2.0 metres at 7.25 g/t (0.21 oz/ton)
in hole KG20RC-237; 2.0 metres averaging 6.65 g/t (0.2 oz/ton) in hole
KG20RC-164; 1.0 metre averaging 13.15 g/t (0.38 oz/ton) in hole
KG20RC-204; and 1.0 metre grading 7.31 g/t (0.21 oz/ton) in hole
KG20RC-217.
Sinclair said the Company was "highly encouraged by the widespread
distribution of gold values within the two shear zones" and he pointed
out that "drilling was continuing in an effort to identify additional
shoots along the established mineralized trend."
Kigosi remains a standalone project within the Company's large
portfolio of mineral properties in Tanzania and is being developed
exclusively in-house.
The objective of the Phase 3 program was to test the strike continuity
of the Luhwaika reef system to the southeast, to infill drill the
mineralization previously identified towards the northwest, and finally
to establish the controls and trends for gold mineralization that
extends along a strike length of 900 metres.
The Phase 3 drill program consisted of 126 holes aggregating 5,362
metres, bringing the total drilled metres at Kigosi to 10,015 in 249
holes. Drilling was conducted along eight control lines with a central
baseline having a strike length of 2.8 kilometres. The two shear zones
hosting the high grade shoots have been traced along a strike length of
1.2 kilometres. Both shear zones remain open towards the northwest
where an Induced Polarization (IP) survey indicates they could extend
for at least 4.0 kilometres along strike.
The near surface shoots, which have been drilled to vertical depths of
less than 70 metres, exhibit a shallow westerly plunge (approx 5
degrees) and a strike of between 300 and 310 degrees. Below is a
summary of the shoot statistics followed by a table of drill results.
The results presented below include the most significant gold
mineralization intersected by drilling on eight lines ranging from
300-600 metres in length.
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No. of Thick-
Shear Shoot RC Length Width ness Grade Comments
System Name holes (m)(1) (m)(2) (m)(3) (g/t)
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Luhwaika Falcon 4 greater 10-20 1-2 2.59-8.83 Open to west
Main than 550
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Luhwaika Bateleur 15 greater 10-20 1-3 1.99-34.25 Open to west
Main than 1100
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Luhwaika Eagle 7 450 10-20 1-2 2.10-6.65 closed
Main
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Luhwaika Flamingo 2 greater 10 1 3.96-4.46 Open to west
West than 400
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Luhwaika Pelican 7 500 10-30 1-2 2.77-16.46 closed
West
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Luhwaika Albatross 1 greater ? 1 20.30 Open to west
West than 100
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(1) Horizontal length of shoot projected to surface
(2) True width of shoot within the shear zone
(3) Range of thicknesses carrying gold in shoot
The shoots are separated by lower grade (less than 2g/t) envelopes that
are between 10 and 30 metres wide along the plane of the shear zones.
A Phase 4 drill program is currently focused on drilling out the two
main reefs and their gold bearing shoots towards the northwest. At
least 4,000 metres of drilling is planned for this next phase of
drilling. The Company is also completing additional IP gradient surveys
at Kigosi where a further three parallel chargeable zones have been
discovered to date within the vicinity of the Luhwaika workings.
A summary of the Phase 3 drill highlights is given below:
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Hole No. From To Intercept Gold Including Comments
(m) (m) (m) g/t
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Line 1250N
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KG20RC-164 3 5 2 6.65 Gravels
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Hole No. From To Intercept Gold Including Comments
(m) (m) (m) g/t
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Line 1350N
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KG20RC-132 4 6 2 1.77 Main Zone
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KG20RC-136 21 22 1 2.01 Main Zone
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KG20RC-137 35 37 2 1.71 Main Zone
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KG20RC-138 47 48 1 1.81 Main Zone
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KG20RC-139 2 5 3 1.15 Main Zone
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KG20RC-139 36 38 2 1.15 West Zone
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KG20RC-139 62 63 1 3.93 Main Zone in shoot
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KG20RC-140 1 5 4 0.75 West Zone
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KG20RC-140 78 84 6 0.77 West Zone
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Hole No. From To Intercept Gold Including Comments
(m) (m) (m) g/t
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Line 1510N
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KG20RC-143 1 3 2 1.67 Gravels
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KG20RC-144 0 3 3 1.61 Gravels
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KG20RC-145 2 5 3 1.80 Gravels
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KG20RC-146 11 13 2 7.47 Main Zone in shoot
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KG20RC-148 32 35 3 1.28 Main Zone
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KG20RC-150 66 68 2 1.43 Main Zone
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KG20RC-151 79 81 2 1.92 Main Zone
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KG20RC-153 1 7 6 0.92 1m@3.22 West Zone in shoot
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Hole No. From To Intercept Gold Including Comments
(m) (m) (m) g/t
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Line 1750N
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KG20RC-188 0 2 2 3.54 Gravels
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KG20RC-189 0 2 2 2.29 Gravels
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KG20RC-190 0 1 2 1.52 Gravels
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KG20RC-195 27 29 2 3.59 Main Zone in shoot
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KG20RC-196 36 37 1 2.00 Main Zone in shoot
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KG20RC-197 0 5 5 0.74 Gravels
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KG20RC-201 11 13 2 2.41 West Zone in shoot
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KG20RC-202 22 25 3 1.07 West Zone
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KG20RC-204 44 47 3 4.66 1m@13.15 West Zone in shoot
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KG20RC-205 59 61 2 0.94 West Zone
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Hole No. From To Intercept Gold Including Comments
(m) (m) (m) g/t
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Line 1850N
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KG20RC-171 0 3 3 2.10 Gravels
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KG20RC-176 0 2 2 1.45 Gravels
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KG20RC-176 5 6 1 6.09 Main Zone in shoot
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KG20RC-177 14 16 2 1.62 Main Zone
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KG20RC-178 26 28 2 2.60 1m@4.47 Main Zone in shoot
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KG20RC-184 18 22 4 0.94 West Zone
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KG20RC-185 33 34 1 1.20 West Zone
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KG20RC-186 43 46 3 2.73 West Zone in shoot
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Hole No. From To Intercept Gold Including Comments
(m) (m) (m) g/t
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Line 1950N
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KG20RC-217 19 28 9 1.71 1m@7.31 Main Zone in shoot
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KG20RC-218 40 42 2 1.26 Main Zone
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KG20RC-226 37 38 1 1.46 West Zone
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KG20RC-227 45 52 7 1.15 2m@2.27 West Zone
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Hole No. From To Intercept Gold Including Comments
(m) (m) (m) g/t
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Line 2150N
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KG20RC-237 2 6 4 4.13 2m@7.25 Main Zone in shoot
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KG20RC-238 3 5 2 1.37 Gravel
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KG20RC-239 3 6 3 14.21 Gravel
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KG20RC-244 44 50 6 12.80 2m@34.25 Main Zone in shoot
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KG20RC-245 55 58 3 1.12 Main Zone
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KG20RC-249 0 3 3 1.50 Gravel
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The above intersections are estimated to be very close to true
thicknesses with all the drill inclinations being -60 degrees and the
dip of the reef being -22 degrees. All holes are drilled perpendicular
to the assumed strike of the reef(s).
Analysis
Fire assay with flame AAS finish was conducted by SGS Laboratories in
Mwanza. Duplicates and Standards were inserted in the sample stream
approximately every 20 samples. The duplicates have a correlation
coefficient of 91%, which is accounted for by the large nugget effect
within the sampling. 17% of the standards from SGS fall outside the
acceptable 3rd standard deviation. Due to this, to validate the assay
results 80% of the high gold values were sent to Humac Laboratories as
a check. The Humac fire assay results gave a 87% correlation with the
SGS results and the Humac aqua regia gave a 92% correlation with the
SGS results. This is considered acceptable. The figures used in this
press release are the average grades taken for between one and three
duplicates run by the labs on each analysis.
Qualified Person
The technical information contained in this document has been reviewed
and approved by John Deane, President, Tanzanian Royalty Exploration
Corporation Limited, a qualified person as defined by NI 43-101. He has
an M.Sc. from the University of Cape Town (1993) and is a registered
scientist with SACNASP (Reg. No.400005/05).
Respectfully Submitted,
"James Sinclair"
James E. Sinclair
Chairman and Chief Executive Officer
For further information, please contact Investor Relations at
1-800-811-3855 Visit our website: www.TanzanianRoyaltyExploration.com
The Toronto Stock Exchange and American Stock Exchange have not
reviewed and do not accept responsibility for the adequacy or accuracy
of this release
Cautionary Note to U.S. Investors - The United States Securities and
Exchange Commission permits U.S. mining companies, in their filings
with the SEC, to disclose only those mineral deposits that a company
can economically and legally extract or produce. We use certain terms
on this news release, such as "measured", "indicated", and "inferred"
"resources" that the SEC guidelines strictly prohibit U.S. registered
companies from including in their filings with the SEC. U.S. Investors
are urged to consider closely the disclosure in our Form 20-F, File No.
0-50634, which may be secured from us, or from the SEC's website at
http://www.sec.gov/edgar.shtml.
Certain information presented in this release may constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements are based on numerous assumptions, and involve known and
unknown risks, uncertainties and other factors, including risks
inherent in mineral exploration and development, which may cause the
actual results, performance, or achievements of the Company to be
materially different from any projected future results, performance, or
achievements expressed or implied by such forward-looking statements.
Investors are referred to our description of the risk factors affecting
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Copyright (c) 2007 TANZANIAN ROYALTY EXPLORATION CORPORATION (TNX) All
rights reserved. For more information visit our website at
http://www.tanzanianroyaltyexploration.com/ or send
mailto:info@tanzanianroyaltyexploration.com
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