Handeni Gold Inc. Extends Target 5 Gold Anomaly to 1800 X 900 Meters
30 Julio 2012 - 8:01AM
Marketwired
Handeni Gold Inc. (the "Company" or "Handeni Gold") (OTCQB:HNDI) is
pleased to provide an update on the exploration activities on its
800 km2 Handeni property in the United Republic of Tanzania.
The Company's focus is currently on upgrading its identified
targets on the four prospecting licenses (each a "PL") areas (Fig.
1) to drill target status. To this effect primary focus is
currently on the 200km2 covered by PL6743 even though exploration
is continuing on the Company's other PLs.
A total of 5050 soil samples (including blanks and standards)
from targets in PL6743 are currently being analysed by XRF
(hand-held X-Ray fluorescence) and prepared for submission to assay
laboratories. In collaboration with the Tanzanian Geological Survey
a soil sampling program is currently being undertaken on Target 6
(Green square Fig. 1).
The results of the soil sampling program on Target 5 received to
date are highly encouraging, with gold in soil values of up to 200
ppb encountered. Au (gold) assay results received for 2331 samples
are plotted on Fig. 2. The geochemical target coincides with a
magnetic and electro-magnetic geophysical anomaly on surface over
an area of approximately 1.8 km (N-S) by 900 m (E-W). The anomalous
gold zone apparently dips East to Southeast as part of a large fold
structure. High Au values coincide with topographic highs. The
evaluation of this target will be continued by pitting, trenching
and ground IP (Induced Polarization).
The evaluation of the "alluvial" gold potential is now
progressing rapidly. The drilling of 3 successful RC (reverse
Circulation) holes for water solved the constant water shortage
problem and the wells are now providing the washing and separation
operations with a sustainable 15 000l/h from two of the holes
currently being utilized. This water also secured a water source
for future drilling operations on our PLs. Approximately 32% of a
pitting, trenching and separation exercise on the area targeted for
the evaluation of a potential "alluvial" gold operation is
currently completed.
Other exploration related activities currently under way on the
Company's Handeni PLs include:
a. Identification of potential alluvial mining areas other than those
currently known and being evaluated by utilizing remote sensing
activities;
b. Detailed geophysical interpretation of already collected geophysical
data;
c. A petrological, geochemical and mineralogical investigation of the
Kwandege drill core to understand the style of gold mineralization at
this locality; and
d. XRF (hand held) analyses of soil samples taken to produce an algorithm
to relate Au anomalies to soil geochemistry. The aim is to reduce assay
cost as well as to characterize the two main styles of mineralization
identified on the HNDI properties.
"Handeni Gold is currently doing what we believe an exploration
company should be doing under the current market conditions:
exploration." said Dr. Reyno Scheepers : President and CEO of
Handeni Gold. "We are in the fortunate position that results from
our exploration efforts are adding value to our projects as
planned" he added.
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.
To view Figure 1 and Figure 2 associated with this release,
please visit the following link:
http://media3.marketwire.com/docs/HNDIfig.pdf
Contacts: Handeni Gold Inc. Mr. Bob Dynes Investor relations
manager +1.604.642.6165 or Mobile:
+1.778.881.6165bob@handenigold.com or info@handenigold.com
www.handenigoldltd.com
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