NEWs!Circular magnetic anomaly identified on Tan Range property
via COMTEX
June 5, 2003
VANCOUVER, Jun 05, 2003 (Canada NewsWire via COMTEX) --
Independent geophysical consultants have identified a large, circular airborne magnetic anomaly on one of the Company's prospecting licenses in the Lake Victoria greenstone belt of western Tanzania.
The raw geophysical data used to identify the anomaly was acquired from a low altitude, helicopter-borne magnetic survey completed several years ago at 200 metre intervals by a wholly-owned subsidiary of Tan Range Exploration. Additional geophysical data remains to be evaluated.
The strongly magnetic target is approximately 1.5 kilometres in diameter and has been classified as the highest priority among the 33 anomalies identified to date. The anomaly is reminiscent of a volcanic collapse structure or caldera and will be evaluated in the next few months as a potential kimberlite target.
Kimberlite is the principal host rock for diamonds, an important export commodity for Tanzania since the discovery of the Williamson Diamond Mine at Mwadui in the mid-1940s.
An exploration crew is being mobilized to the site to confirm the anomaly with ground magnetics. After this geophysical survey is completed, a grid- based sampling program will be initiated and sample material will be sent to laboratories in South Africa to determine the presence of diamond indicator minerals.
'Identifying this potential kimberlite target has certainly driven home the value of our extensive geophysical data base,'said the Company's President, Marek Kreczmer.
'We are looking forward to broadening the scope of our exploration activities into diamonds and feel our land position in the Lake Victoria greenstone belt puts us in a leadership position to explore for both gold and diamonds.'
On behalf of the Board of Directors
'Marek Kreczmer' Marek J. Kreczmer, M.Sc., P.Eng. President
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