VANCOUVER, Nov. 24, 2014 /CNW/ - Tanzania Minerals Corp. (the "Company"
or "TZM") (TSX-V: TZM.V) (FRANKFURT: TM0.F) is pleased to announce that
it has been provisionally granted two additional licences contiguous to
the recently acquired Igurubi Gold Property. The acquisition increases
the Igurubi project area by 117.46 km2 for a total project area of 228.32 km2.
Additional Licences Acquired
Robert Dzisiak, CEO of Tanzania Minerals Corp., stated "We are pleased
to announce that we have pursued these strategic licences, which will
provide further exploration opportunities to build on the existing
Igurubi project."
The Company applied for the two licence areas in the Tabora Region,
Tanzania, in early October, 2014, and the Ministry of Energy and
Minerals accepted the requested application. The Company accepted the
terms of the Ministry of Energy and Minerals, and the licence areas
were assigned provisional permit numbers HQ-P28715 and HQ-P28716) on 20
October, 2014. Full prospecting licence (PL) numbers will follow in due
course. The permits cover a total area of 117.46 km2.
Licence HQ-P28716 covers an area of 78.84 km2, and is contiguous to the south-east of the existing Igurubi gold
property, which is located within the Nzega Greenstone belt of the Lake
Victoria Goldfield. The licence is underlain by Archean volcanic and
volcanosedimenatry rocks, and transected by the same northwest-trending
structures that host gold mineralization at Igurubi. Gold
mineralization at Igurubi is currently being worked by artisanal miners
and coincident with gold soil geochemical anomalies and argillic
alteration. The presence of bedrock gold has also been confirmed by
RAB, air core and RC drilling (see Company press release 21 October,
2014). All current observations suggest that the Igurubi mineralized
structures trend towards HQ-P28716, and the suggested along strike
extension will be the focus of exploration activity. The area is
covered by a thick sequence of paleo-lake sediments, so exploration
method employed will include induced polarization (IP) and ground
magnetic geophysics to help define potential drill targets.
The second licence, HQ-P28715, covers an area of 38.62 km2, and occurs to the north and northeast of the current main strike of
mineralization at Igurubi. The licence is contiguous to HQ-P28716 and
one of the existing licences (PL2212/2003). Most of the licence is
underlain by a large granite pluton, with volcanic and
volcanosedimenatry rocks at the margin. Historic regional airborne
geophysics has identified structures that are parallel to the known
mineralization at Igurubi, and these structures will be the focus of
ground geophysical and geochemical surveys.
The Company will provide further updates as work progresses and plans
for further exploration are finalized.
About Tanzania Minerals Corp.
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. 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.
Qualified Person
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.
Additional information on Tanzania Minerals Corp., including technical
reports and other public documents is available on SEDAR at www.sedar.com or on the Company's website at www.tanzaniaco.com.
On behalf of the Board of Directors of Tanzania Minerals Corp.
"Robert Dzisiak"
Robert Dzisiak, President and 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: "Simplified geology map of the Igurubi Gold Project with new licences (red) and the location of the Igurubi mineralization trend (yellow), as defined by drilling and artisanal workings. (CNW Group/Tanzania Minerals Corp)". Image available at: http://photos.newswire.ca/images/download/20141124_C9840_PHOTO_EN_43240.jpg
