Tanzanian Royalty Announces New Drilling Results from the Buckreef Project Continue to intersect Wider Mineralization Zone with 19.0 Metres @ 2.46g/t Au including 2.0 Metres @ 7.49g/t Au
South Surrey, British Columbia CANADA, October 05, 2012 /FSC/ - Tanzanian Royalty Exploration Corp (TNX - TSX, TRX - American), is pleased to announce that new assay results from its ongoing deep diamond drill program at the Buckreef Gold Project in Tanzania have been received and confirm continuity of the wide, higher-grade gold mineralization.
Significant intercepts reported include:
* BMDD189 which intersected 5m at 2.57g/t Au from 273m, including 1m @ 4.16g/t Au and a second zone of 4m at 4.39g/t Au from 313m, including 1m @ 12.6g/t Au from 315m.
* Drill hole BMDD190 returned an interval of 5 metres grading 1.35g/t Au from 156m.
* Drill hole BMDD191 returned an interval of 3m grading 2.41g/t Au from 413m.
* Drill hole BMDD193 returned an interval of 9 metre grading 1.0g/t Au from 313m, including 3 metre at 2.01g/t Au from 318m and a second zone of 4m @ 4.23g/t Au from 328m, including 2m @ 7.4g/t Au from329m.
* Drill hole BMDD194 returned an interval of 7 metres grading 3.04g/t Au from 93m, including 1m at 11.5g/t Au from 96m.
* Drill hole BMDD197 returned an interval of 4 metres grading 1.12g/t Au from 59m and a second wide zone of 19m at 2.46g/t Au from 346m, including 2m @ 7.49g/t Au from 353m.
* Drill hole BMDD199 returned an interval of 6 metres grading 5.35g/t Au from 190m, including 2m @ 8.33g/t Au from 194m and a second zone of 3.72m at 2.29g/t Au from 249m.
The intersection reported here is a down-hole length and may not represent true width but the true width is estimated to be 50 - 60%.
The host rocks to the gold mineralization at the Buckreef Northeast extension are a sequence of fine grained basalts to medium grained dolerite and strongly altered felsic porphyry units, associated with gold-bearing quartz-sericite-carbonate-pyrite alteration assemblages. The best gold grades are confined within brecciated and altered dolerite with felsic porphyry intercalation and grey quartz vein with fine disseminated pyrite.
"We are very excited about the gold grades of these assays from Buckreef North Zone which continue to increase our understanding of the Northeast extension of the deposit" commented Joseph K. Kahama, Chairman and Chief Operating Officer (Tanzania). "The intercepts are being encountered where predicted."
Sample Protocol and QA/QC
The samples chain of custody is managed by the Buckreef technical team under the supervision of Anthony Minde. Gold analyses reported in this release were performed by standard fire assay using a 50-gram charge with atomic absorption finish (0.01ppm LLD) and a gravimetric finish for assays greater than 10 grams per tonne. All assays were performed by SGS Laboratory in Mwanza. Sampling and analytical procedures are subject to a comprehensive quality assurance and quality control program. The QA-QC program includes duplicate samples, blanks and analytical standards.
Intervals of core to be analyzed are split in half with a mechanized core cutter with one half to be sent to the laboratory for geochemical analysis and the remaining half to be kept in the storage for future reference and uses.
SGS Laboratory is ISO 90001 and 17025 accredited and employs a Laboratory Information Management System for sample tracking, quality control and reporting.
The Company's Qualified Person, Mr. Peter Zizhou, has reviewed and approved the contents of this news release. Mr. Zizhou has a Master of Science (Exploration Geology) degree from the University of Zimbabwe (2000) and is a registered professional natural scientist with SACNASP (Reg. No 400028/08).
Chairman and Chief Operating Officer (Tanzania)
For further information, please contact Investor Relations at
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Source: Tanzanian Royalty Exploration Corp (TNX - TSX) (TRE - AMEX) http://www.tanzanianroyaltyexploration.com
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