NEWS TodayTanzanian Royalty Begins Drilling at Itetemia Gold Project
Trade Symbol:
TSX: TNX
AMEX: TRE
VANCOUVER, Sept. 13 /CNW/ - The Company is pleased to announce that a
drilling program has commenced on its Itetemia Gold Project in the Lake
Victoria Greenstone Belt of Tanzania. The Itetemia property is located some
90 kilometers southwest of Mwanza adjacent to Barrick's Bulyanhulu Mine
property, one of the largest underground gold producers in the world. Itetemia
is currently the subject of an option agreement with a private United Kingdom
based company, Sloane Developments Ltd. which can earn a percentage interest
in prospecting licenses aggregating 54 square kilometres.
The drill program will include at least 2,000 metres of Reverse
Circulation (RC) drilling and 3,000 metres of infill diamond drilling which is
designed to improve the confidence level of the gold grades encountered in
previous drill programs within the Golden Horseshoe Reef (GHR) down to the
200 metre level.
The GHR has been traced by diamond drilling to a vertical depth of
approximately 440 meters, with the gold mineralization occurring primarily
within two discrete zones, the South and North, which plunge approximately
55 degrees to the northwest.
RC drilling is continuing at the Company's Kigosi Project which will also
be the subject of a diamond drilling program in the near future.
Respectfully Submitted,
"James E. Sinclair"
James E. Sinclair
Chairman and Chief Executive Officer
The Toronto Stock Exchange and American Stock Exchange have not reviewed
and do not accept responsibility for the adequacy or accuracy of this
release