Tanzania Gold PLC
22 May 2007
Tanzania Gold PLC
22 May 2007
Tanzania Gold Plc
('Tanzania Gold')
Sampling Programme completed at the Mkurumu Project, Tanzania
Highlights:
•Sampling programme completed over entire licence area
•Artisanal pit rock sampling returns values of up to 43.1g/tAu
•Soil geochemical sampling returns values of up to 2.35g/tAu
•Average gold value for 40 samples equates to 10.36g/tAu
Tanzania Gold (AIM: TZG), the AIM listed exploration and development company, is
pleased to announce the initial results from the sampling programme covering the
Mkurumu gold project (PL 3048/2005) in the Tanga region, Tanzania.
Artisanal Rock Chip Sampling
A total of 40 rock chip and channel samples were collected from various
artisanal workings, artisanal waste dumps and outcrops within the licence area.
They returned gold values ranging from 0.02g/tAu to 43.1g/tAu.
The average gold value for the 40 samples equated to 10.36g/tAu, eight of which
returned values in excess of 20g/tAu namely 22.6, 28.3, 31.7, 32.3, 33.2, 34.8,
37.9 and 43.1g/tAu. These results correlate well with previous assay results and
reports of visible gold and exceptionally high gold assay values within selected
areas of the Mkurumu deposit.
Soil Geochemical Sampling
The systematically gridded soil geochemical sampling programme covering the
entire 43.35 square kilometre licence area has been completed. Tanzania Gold has
received the results of approximately 90 per cent of the 10,000 soil geochemical
samples. The majority of soil sampling was completed on 80 to 100 metre line
spacing at 40 metre sample intervals with duplicates taken every 400 metres. To
date 1,172 samples have returned gold values of over 50ppbAu with results
ranging from 50ppbAu to 2,350ppbAu (2.35g/tAu). The final results and detailed
reporting on the soil geochemical sampling are expected in July 2007. The
anomalous targets will be further defined through trenching and channel sampling
in preparation for the next drilling programme which is planned for the latter
part of 2007.
The majority of the mineralized structures returning the high gold
concentrations are located within the potentially open pit mineable, low grade
but high tonnage parts of the deposit that are currently being evaluated for the
next stage of the work programme.
Independent consulting geologist Brian Varndell has reviewed and approved the
technical information contained within this press release in his capacity as a
competent person, as required under the AIM rules. Brian Varndell is a fellow of
the Australasian Institute of Mining and Metallurgy and co-author of the CPR
published in September 2006
Clive Sinclair-Poulton, Chief Executive commented,
'These initial sampling results further confirm the quality of the project and
are a highly encouraging prelude to the next stage of our works programme.'
Notes for editors:
Tanzania Gold plc (www.tanzgold.com) is focused on the discovery and
exploitation of gold projects and assets, initially in Tanzania which is the
third largest producer of gold in Africa and is increasing its production on an
annual basis.
The majority of gold production is centered around the west of the country,
whereas Tanzania Gold is concentrating its efforts in the under explored east,
an area of great potential.
Tanzania has been independent since 1964 and is in the enviable position of
having consistent political stability, holding regular democratic multi-party
elections. Western style mining laws, combined with good infrastructure, skill
levels and a supportive government have attracted a number of world class mining
companies.
For further information, please contact:
Clive Sinclair-Poulton, Chief Executive
Tanzania Gold Plc Tel: +353 (0) 85 739 2674
Email: clive@tanzgold.com
James Harris
Strand Partners Limited Tel: +44 (0) 20 7409 3494
Email: JamesHarris@strandpartners.co.uk
Gary Middleton
St Swithins PR Limited Tel: +44 (0) 20 7929 4391
Email: gary@swithins.com
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
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Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
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