VANCOUVER, Nov. 14, 2013 /CNW/ - Tanzania Minerals Corp.
(the "Company" or "TZM"), (TSXV: TZM) (FRANKFURT: TM0.F) is pleased
to provide an update on exploration activity at the Company's
Mufindi property in Southern
Tanzania.
Statement from the CEO
Kal Matharu, CEO of Tanzania
Minerals Corp. said, "The Company continues to work on its
portfolio and continues to explore for new opportunities. The
initial XRF soil geochemistry results from Mufindi are positive for
gold pathfinder elements from an area not previously explored for
gold. A total of 101 soil samples were submitted to the assay
lab, and results are expected within three weeks."
Mufindi
The licence is located approximately 470 km from Dar es Salaam, 100
km southwest of the town of Iringa and 150 km east of the Lupa
Goldfield in southern Tanzania,
and covers an area of approximately 44 km2. It is
underlain by the Archean rocks that comprise of poorly studied
rocks of the Tanzanian Craton. These rocks include highly
metamorphosed feldspathic gneisses, amphibolites and granites.
Three gold showings are documented in the same package of rocks
within 65 km of the Mufindi licence, however no gold mineralization
has been identified previously from the property. Gold
mineralization from the Lupa Goldfield is structurally controlled
and typically is associated with metabasites, and felsic gneiss and
schists. The auriferous quartz veins usually contain pyrite,
chalcopyrite, molybedenite, galena and sphalerite.
The field program at Mufindi consisted of
geological mapping, lithogeochemical sampling, stream sediment
geochemistry, and multi-element XRF analysis. The
multi-element XRF sampling program was carried out using a line
spacing of 400 m and a sample spacing of 200 m. In areas
where Cu, Pb, Zn anomalism was recorded the grid spacing was
reduced to 100 m by 100 m. A total of 816 samples were
collected and analysed by the XRF instrument. Two areas of
coincident Cu, Pb and Zn anomalism, defined as concentrations
greater than one standard deviation from the mean, were noted.
These areas correspond to a northwest-trending, possibly
fault-bound, amphibolite unit, and a highly siliceous biotite
gneiss located at the point of interception of two mapped fault
lines. Both areas are also coincident with anomalous iron
concentrations in shallow soil. A total of 101 soil samples from
the two areas were submitted to the assay lab, and results are
expected in the next two to three weeks.
IR Contract Update
Effective November 1, 2013, investor
relations provider, Trident Financial, will provide its services to
the Company at a rate of $1000 per
month with a thirty (30) day cancellation policy.
Company Information
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.
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.
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
Image with caption: "Geology map of the northern portion of the
Mufindi licence showing areas of elevated copper, lead and zinc in
soil samples. (CNW Group/Tanzania Minerals Corp)". Image available
at:
http://photos.newswire.ca/images/download/20131114_C7398_PHOTO_EN_33362.jpg