Handeni Gold Inc. (the "Company" or "Handeni Gold") (OTCBB:HNDI) is
pleased to announce further drill results on their Kwandege project
on their 800 km2 Handeni property in the United Republic of
Tanzania (Fig. 1).
Thirty seven (37) drill holes (4989 m) have been drilled on the
Kwandege mineralized zone (Fig. 1), completing the first phase
drilling program on this project. The six (6) drill holes of which
assay results are reported here brings the total number of holes on
which assay results are publishable to date to 17 (this represents
54% (2672 m) of the meters drilled). A total of 8509 samples have
been submitted to ALS and SGS (Mwanza), of which 3501 samples
(41.0%) have been assayed.
To view the image of Fig. 1: Kwandege drill hole positions for
which gold assay results are reported in this release are indicated
in green, drill hole positions for previously released assay
results are in red and drill holes for which assay results are
pending are in black, please select the following link:
http://www.marketwire.com/library/20120306-1hdni_800.jpg
As shown in Table 1 the best results for the currently released
data is 1,1 g/t Au over 9 m (KW1_08) including 5,67 g/t over 1m and
1.74 g/t over 6 m (KW1_14) including 3,51 g/t over 1m.
To view Table 1: Assay results for 6 drill holes reported in
this news release, please select the following link:
http://www.marketwire.com/library/20120306-3hdni_800.jpg
The best intersections to date on the Kwandege project to date
were KW2_01 with 4.40 g/t over 12 meters, including 29.5 g/t over 1
m as well as 3.54 g/t over 1 m, KW1_08 with 1,1 g/t over 9 m
including 5,67 g/t over 1 m, KW1_14 with 1,74 g/t over 6 m
including 2,45 g/t over 2 m and 3,51 g/t over 1 m.
An important feature of the Kwandege target is the fact that low
level gold values (0.5 g/t to 1 g/t) were encountered in numerous
intersections in the drill holes. As indicated in Fig. 1, anomalous
gold with some potentially economic intersections have been
encountered in an E-W (strike) direction of 1130 meters. Data
presented in this news release indicates a mineralized zone of up
to 400m in an N-S direction on surface. The additional assay
results as reported in this release confirm the open ended nature
of the mineralization in an E-W direction as previously
reported.
The drilling, sampling and quality assurance/quality control
programs are overseen by a team consisting of Reyno Scheepers Pr.
Sci. Nat.;Ph.D.(the Company's CEO and a Qualified Person as
designated by Canadian National Instrument 43-101 "NI 43-101"),
Bernard McDonald M.Sc. (Expl. Geol.; VP Exploration) and George
Rwekiti (M.Sc.; Exploration Manager). SRK Consulting is externally
monitoring the program.
Drill hole results are reported as received and in no
preselected order. Intercepts are reported as drilling widths due
to extreme folding of layers. More drilling will be needed to
confirm true widths that are estimated to be approximately 80% at
Kwandege. For the holes reported for this phase of the assay
program sampling was conducted along 1 meter continuous intervals
of the core.
Splitting of samples (core saw) is conducted on site for each
project and all samples submitted with QA and QC checks
(approximately in the following variable sequence): Standard, 9
Samples, Blank, 1 Sample, Duplicate, 7 Samples, Standard. External
laboratory checks are also conducted. Half core samples are
retained on site. Samples were assayed at the SGS Laboratory in
Mwanza, Tanzania by 50g gold fire assay. Samples are also submitted
to ALS Chemex, Mwanza from where a less than 75um plit of the
pulverized material is sent to ALS Chemex in Johannesburg for
analyses by fire assay and ICP-AES.
The technical information in this news release has been approved
by Reyno Scheepers (the Company's CEO and a Qualified Person as
designated by NI 43-101).
About Handeni Gold Inc.
The Company is an emerging mineral exploration company focused
on exploring and developing mining opportunities in Tanzania. For
more information, go to www.handenigold.com.
Safe Harbour Statements
Except for the statements of historical fact contained herein,
the information presented in this news release constitutes
"forward-looking statements" as such term is used in applicable
United States and Canadian laws. These statements relate to
analyses and other information that are based on forecasts of
future results, estimates of amounts not yet determinable and
assumptions of management. Any statements that express or involve
discussions with respect to predictions, expectations, beliefs,
plans, projections, objectives, assumptions or future events or
performance (often, but not always, using words or phrases such as
"expects" or "does not expect", "is expected", "anticipates" or
"does not anticipate", "plans, "estimates" or "intends", or stating
that certain actions, events or results "may", "could", "would",
"might" or "will" be taken, occur or be achieved) are not
statements of historical fact and should be viewed as
"forward-looking statements". Such forward looking statements
involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of
the Company to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements. Such risks and other factors include,
among others, the actual results of exploration activities, the
availability of capital to fund programs and the resulting dilution
caused by the raising of capital through the sale of shares,
accidents, labour disputes and other risks of the mining industry
including, without limitation, those associated with the
environment, delays in obtaining governmental approvals, permits or
financing or in the completion of development or construction
activities, title disputes or claims limitations on insurance
coverage. Although the Company has attempted to identify important
factors that could cause actual actions, events or results to
differ materially from those described in forward-looking
statements, there may be other factors that cause actions, events
or results not to be as anticipated, estimated or intended. There
can be no assurance that such statements will prove to be accurate
as actual results and future events could differ materially from
those anticipated in such statements. Accordingly, readers should
not place undue reliance on forward-looking statements contained in
this news release and in any document referred to in this news
release.
Forward looking statements are made based on management's
beliefs, estimates and opinions on the date the statements are made
and the Company undertakes no obligation to update forward-looking
statements if these beliefs, estimates and opinions or other
circumstances should change, except as required by applicable law.
Such forward-looking statements reflect our current views with
respect to future events and are subject to certain risks,
uncertainties and assumptions, including, the risks and
uncertainties outlined in our most recent financial statements and
reports and registration statement filed with the United States
Securities and Exchange Commission (the "SEC") (available at
www.sec.gov) and with Canadian securities administrators (available
at www.sedar.com). Such risks and uncertainties may include, but
are not limited to, the risks and uncertainties set forth in the
Company's filings with the SEC, such as the ability to obtain
additional financing, the effect of economic and business
conditions, the ability to attract and retain skilled personnel and
factors outside the control of the Company. These forward-looking
statements are made as of the date of this news release, and the
Company assumes no obligation to update the forward-looking
statements or to update the reasons why actual results could differ
from those projected in the forward-looking statements, except as
required by applicable law. Although the Company believes that the
beliefs, plans, expectations and intentions contained in this news
release are reasonable, there can be no assurance those beliefs,
plans, expectations or intentions will prove to be accurate.
Investors should consider all of the information set forth herein
and should also refer to the risk factors disclosed in the
Company's periodic reports filed from time-to-time with the SEC.
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy securities of the Company nor shall
there be any sale of these securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction.
Contacts: Handeni Gold Inc. Sam Sangha Investor Relations (604)
642-6165info@handenigold.com www.handenigold.com
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