SOUTH SURREY, BC (AMEX: TRE) is pleased to announce that all
assay results have been received from the Phase 6 Reverse
Circulation (RC) drill program at Kigosi which was completed on
June 3, 2008.
The Kigosi drill program continues to generate near-surface,
high grade gold values in previously established gold shoots, along
with some of the best grades reported to date in new IP/soil
anomalies northeast of the Luhwaika area. Among the exceptional
gold values reported from this new target area was 3.0 metres
grading 22.24 g/t (0.64 oz/t) and 1.0 metre averaging 66.06 g/t
(2.0 oz/t).
According to James E. Sinclair, Chairman and CEO, "The new
target area adds an entirely new dimension to Kigosi which we
intend to advance aggressively in the coming year. As an added
bonus, it is highly encouraging to see a continuation of the high
grade gold values we are encountering on other parts of the
property which I feel is a testament to Kigosi's bulk tonnage
potential."
The Phase 6 drill program consisted of 93 holes aggregating
5,933 metres, bringing the total drilled metres at Kigosi to 23,226
in 471 holes. Drilling was conducted along nine control lines, with
a central baseline having a strike length of 2.8 kilometres.
Tanzanian Royalty President, John Deane states: "We are
particularly encouraged by these initial results on the new targets
that were drilled. It confirms our belief that Kigosi represents
another large gold belt in the Lake Victoria Goldfields of
Tanzania."
The objective of this sixth phase of drilling was to conduct
some infill drilling along the drilled-out part of the Luhwaika
Main and West Reef systems in order to confirm the continuity of
high grade gold shoots tested in previous drill phases.
Due to heavy rains, limited access was available so the Company
also drilled three new IP/soil targets 200 metres, 600 metres and
1,300 metres to the northeast of the Luhwaika Main shoot which have
a similar trend to Luhwaika Main. Hole spacing was 30 metres. A
summary of the better results is presented in the table below:
-***-
--------------------------------------------------------------------------
Hole No From To Intercept Gold Including Comments
(m) (m) (m) g/t
--------------------------------------------------------------------------
Line 1510N
--------------------------------------------------------------------------
KG20RC-379 66 67 1 5.90 Albatross Shoot
--------------------------------------------------------------------------
KG20RC-380 90 91 1 1.83 Edge of Albatross
Shoot
--------------------------------------------------------------------------
KG20RC-381 106 107 1 *0.77 Albatross Shoot
--------------------------------------------------------------------------
KG20RC-382 120 123 3 4.37 1m @ 12.23 Albatross Shoot
--------------------------------------------------------------------------
Line 1850N
--------------------------------------------------------------------------
KG20RC-387 78 80 2 1.27 West Zone
--------------------------------------------------------------------------
KG20RC-388 73 77 4 1.78 2m @ 3.09 New Zone
--------------------------------------------------------------------------
Line 2350N
--------------------------------------------------------------------------
KG20RC-408 8 13 5 1.16 1m @ 3.66 Falcon Shoot
--------------------------------------------------------------------------
KG20RC-409 16 21 5 1.11 1m @ 3.77 Falcon Shoot
--------------------------------------------------------------------------
KG20RC-411 38 40 2 3.27 Goshawk Shoot
--------------------------------------------------------------------------
KG20RC-412 44 50 6 1.89 1m @ 9.11 Goshawk Shoot
--------------------------------------------------------------------------
KG20RC-413 57 59 2 2.45 Goshawk Shoot
--------------------------------------------------------------------------
KG20RC-414 69 71 2 5.17 1m @ 9.90 Goshawk Shoot
--------------------------------------------------------------------------
KG20RC-416 2 4 2 1.07 Gravel
--------------------------------------------------------------------------
KG20RC-416 95 97 2 5.29 1m @ 9.68 Bateleur Shoot
--------------------------------------------------------------------------
KG20RC-417 2 4 2 7.72 1m @ 14.70 Gravel
--------------------------------------------------------------------------
KG20RC-417 107 110 3 2.68 1m @ 8.70 Bateleur Shoot
--------------------------------------------------------------------------
Line 2750N
--------------------------------------------------------------------------
KG20RC-398 0 1 1 3.42 Gravel
--------------------------------------------------------------------------
Line 3050N
--------------------------------------------------------------------------
KG20RC-441 42 43 1 1.03 New IP/Soil target
--------------------------------------------------------------------------
KG20RC-457 2 4 2 5.04 New IP Soil target
- gravels
--------------------------------------------------------------------------
KG20RC-462 28 31 3 22.24 1m @ 66.06 New IP/Soil target
--------------------------------------------------------------------------
KG20RC-463 63 64 1 4.44 New IP/ Soil target
--------------------------------------------------------------------------
Line 3250N
--------------------------------------------------------------------------
KG20RC-434 39 40 1 1.29 New IP/Soil target
--------------------------------------------------------------------------
Line 4100N
--------------------------------------------------------------------------
KG20RC-453 12 13 1 2.76 New IP/Soil target
--------------------------------------------------------------------------
* Duplicate run: 2.46g/t.
--------------------------------------------------------------------------
-****-
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).
The infill drilling on Luhwaika Main and West reefs has allowed
the Company to interpret the high grade shoots as steepening in
pitch towards the northwest. This target is now too deep for the
Company's in-house RC rig to test and drill tender documents for
deeper RC holes have been submitted to all the current drilling
companies operating in East Africa. This drilling will hopefully be
achieved during the current dry season.
The seventh phase of in-house RC drilling commenced on July 2nd.
This phase will include a continuation of infill drilling on the
Luhwaika Main and West reefs in areas inaccessible during the wet
season. Approximately 10 holes are planned. The rig will then
continue drilling out the new IP/soil anomalies to the northeast of
Luhwaika. Sixteen holes are planned in these two areas.
The next target is the Igunda artisanal workings some 2.5
kilometres to the southeast of the Luhwaika prospect area. These
workings have a strike length of 300 metres and represent a steeply
dipping high grade quartz vein (with grab samples up to 50.32g/t
gold). IP and soils suggest that this zone extends for
approximately 1 kilometre with the possibility of a second zone
existing. In total, 120 RC holes have been planned for this
area.
A first phase RAB (rotary air blast) program has also been
planned for August to test other IP/Soils targets in the larger
Luhwaika-Igunda area. This drilling is designed to test shallow CBI
(cover/bedrock interface) holes to test the IP and soil anomalies
and to basically generate critical geological data. Approximately
700 holes have been planned along 20 line kilometres aggregating
some 7,000 metres of drilling.
Analysis
Fire assay with flame AAS finish was conducted by Humac
Laboratories in Mwanza. Blanks, Duplicates and Standards were
inserted in the sample stream approximately every 20 samples. One
batch of blanks returned unfavourable results with the entire batch
being outside the acceptable limit for blanks, ranging from 0.03 to
0.12 g/t Au. The duplicates have a correlation coefficient of
58.77%, which is accounted for by the large nugget effect within
the sampling. The high value of 66.06 g/t returned a duplicate of
13.90g/t. If this sample is taken out of the statistics, the
correlation increases to 87.85%. 2% of the standards fall outside
the acceptable 3rd standard deviation. Due to the large nugget
effect at Kigosi, to validate the assay results 95% of the high
gold samples have been submitted to ALS Chemix lab in Johannesburg,
South Africa as an umpire check. This test is currently in
progress. 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 limits disclosure for U.S.
reporting purposes to mineral deposits that a company can
economically and legally extract or produce. We use certain terms
on this news release, such as "reserves," "resources," "geologic
resources," "proven," "probable," "measured," "indicated," or
"inferred" which may not be consistent with the reserve definitions
established by the SEC. U.S. Investors are urged to consider
closely the disclosure in our Form 20-F, File No. 001-32500. You
can review and obtain copies of these filings 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 the Company, as contained
in our Form 20-F, File No. 001-32500, for a more information
concerning these risks, uncertainties, and other factors.
Distributed by Filing Services Canada and retransmitted by
Marketwire
Contact: Connecticut Office: 93 Benton Hill Road Sharon, CT
06069 Tel: (860) 364-1830 Fax: (860) 364-0673 Vancouver Office:
Suite 404 - 1688 152nd Street South Surrey, BC V4A 4N2 Toll Free:
1-800-811-3855 Tel: (604) 536-7873 Fax: (604) 536-2529 Email: Email
Contact Website: www.TanzanianRoyaltyExploration.com
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