VANCOUVER, Sept. 4, 2013 /CNW/ - Tanzania Minerals Corp.
(the "Company"), (TSX-V: TZM) (FRANKFURT: TM0.F) is pleased to
provide an update to exploration activities on their Siga and
Kiagata licences in the Lake Victoria Goldfield.
Statement from the CEO
Kal Matharu, CEO of Tanzania
Minerals Corp. said, "Positive results continue to be generated
from our Siga and Kiagata licences. At Siga, gold assays from
shallow soil sampling have indicated an 1100 by 1000 metre anomaly
which we hope to follow-up with ground geophysics. At Kiagata, XRF
shallow soil data has identified the presence of two concealed
mafic volcanoclastic sequences with linear arsenic soil anomalism.
These soil samples have been sent to the assay laboratory for
analysis and we eagerly await the results."
Siga
The Siga licence covers an area of approximately 51 km2
and is underlain by the Archean Siga Mabale Greenstone Belt and
associated granites. Much of the licence is covered by alluvial
deposits associated with Lake Nyanza, which obscures the surface
geology. The licence is located approximately 5 km south of the
colonial-period BIF-hosted Jubilee Reef or 'Augusta Victoria' gold
mine. Gold mineralization at the Jubilee Reef is recorded as being
associated by shear-zone hosted quartz veins, and recent
mineralization reported by Currie Rose Resources Inc. (TSXV: CUI)
at Masabi Hill is associated with a granitic intrusion. Masabi Hill
is located 6 km NW of the Siga property.
Masabi- and Jubilee Reef- style mineralization
was investigated in July 2013 through
a shallow soil geochemistry survey, which recorded 1,642 analyses
through the use of portable XRF equipment. Based on the results of
this survey 185 samples (and associated standards) from two main
areas, and three smaller anomalous areas, were submitted for gold
assaying. The gold assay results identified a broad anomaly 1 x 1
km, which contained eight samples considered anomalous (7-11 ppb
Au) and one highly anomalous sample (50 ppb), within a zone with
average gold concentrations of 3 ppb. The area is underlain by an
unknown thickness of mbuga soil, which masks much of the underlying
geology. The soil anomaly is coincident with an airborne
geophysical anomaly that might represent an intrusion. Ground
geophysics in this area will be performed to determine if
conductors are present at depth, which might represent
mineralization.
Kiagata
Located within the Musoma-Mara Greenstone Belt, the 44
km2 Kiagata property is located approximately 5 km to
the north of the past-producing Buhemba mine (~ 0.7 Moz Au) and is the target for vein-hosted
orogenic lode-gold mineralization. High-resolution airborne
geophysics flown by the company in 2011 identified several
exploration targets on the licence, based on faults and splay
structures cutting the underlying granite and possible volcanic
units.
A shallow soil XRF program (200 m line spacing
and 100 m sample spacing) has concluded, and identified arsenic
anomalism associated with what appears to be a concealed mafic
dominated volcanic/volcanoclastic sequence. Arsenic is commonly
associated with gold mineralization in Archean gold mineralization,
and is therefore used as a targeting technique. Arsenic anomalism
broadly trends north-westwards following the trend of dykes in the
area. Average concentrations of 37 ppm arsenic are recorded in
areas underlain by mafic rocks, and anomalous areas are defined as
samples greater than 66 ppm As. The maximum arsenic concentration
in soil was 181 ppm. Based on these encouraging results it was
decided that 217 soil samples from two areas will be submitted for
gold assaying. Follow-up work will be contingent of the assay
results.
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.
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.
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"
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.
SOURCE Tanzania Minerals Corp