here's Tan Ranges new release
Tan Range Exploration Corp - News Release
Itetemia drilling results
Tan Range Exploration Corp TNX
Shares issued 32,181,633 Sep 25 close $1.15
Fri 26 Sept 97 News Release
Mr Marek Kreczmer reports,
Tan Range Exploration Corp announces excellent results from its recently
completed drilling program on the Golden Horseshoe Reef confirming the
presence of a large stratabound gold deposit which should be amenable to
open pit mining. All holes were ended in the oxidized zone at approximately
60m depth. Located on the company's Itetemia property in central Tanzania,
the Golden Horseshoe Reef is adjacent to Sutton Resources' 5.6 million
ounce Bulyanhulu gold deposit.
A total of eight diamond drill holes tested a 200m section of the quartz
reef and coincidental induced polarization (IP) anomaly. (See the attached
diamond drill hole plan). The resulting core was split on site with one
half being sampled and the other being retained. Sample preparation was
completed by SGS (Societe Generale de Surveillance SA) in Tanzania while
assays were completed by Acme Analytical Laboratories in Vancouver, BC. The
following results were obtained:
Grid DD Hole Intersection Width Au
(m) (m) g/t
2680E ITDD-18 32.0- 53.3 21.3 3.42
includes 35.0- 39.0 4.0 5.49
also
includes 45.6- 51.8 6.2 4.86
2660E ITDD-14 31.6- 50.0 18.4 6.25
includes 33.0- 43.0 10.0 10.07
2640E ITDD-15 34.8- 48.0 13.2 2.05
includes 35.3- 36.7 1.4 4.12
also
includes 44.0- 46.0 2.0 6.23
2620E *ITDD-12 30.4- 50.5 20.1 5.05
includes 35.7- 44.0 8.3 10.27
2620E *ITDD-13 36.0- 53.0 17.0 3.31
includes 41.0- 47.6 6.6 6.3
2590E ITDD-16 25.3- 58.6 33.3 2.76
includes 40.4- 42.0 1.6 9.42
also
includes 47.0- 49.0 2.0 6.74
also
includes 52.0- 55.0 3.0 9.18
2530E ITDD-17 48.0- 57.9 9.9 0.96
includes 48.0- 53.0 5.0 1.32
2497E ITDD-19 47.0- 54.0 7.0 3.05
includes 48.0- 49.1 1.1 10.63
* Holes ITDD-12 and ITDD-13 drilled on the same grid line in opposite
directions. All holes drilled at -50 degrees.
In addition to the above, a fence of reverse circulation holes was drilled
200 metres west of the last diamond drill hole in order to assess the
extension of the IP conductor under thick overburden. The gold mineralized
quartz reef was intercepted and it is therefore reasonable to assume that
the previously announced 1,200 metre long IP anomaly is associated with the
proven gold bearing quartz reef. The combined diamond and reverse
circulation drill holes have now delineated 400 metres of gold bearing reef
within this IP anomaly.
Gold mineralization within the discovery zone comprises a stratabound
graphitic quartz-sulphide horizon that occurs along the felsic and
intermediate volcanic (andesite flows) contact. The gold is found in thin
quartz sulphide veinlets that crosscut the alteration zone. Visible gold is
occasionally present.
Diamond and reverse circulation drilling to test the strike and depth of
the multi-million ounce resource of the Golden Horseshoe Reef will resume
in mid October.
Tan Range is active in a number of countries in East Africa including
Eritrea, Ethiopia, Tanzania, Zambia, Mozambique and Swaziland. In
Swaziland, two diamond drills are conducting infill drilling of the open
pittable 700,000 ounce Wyldsdale gold deposit.
JCI is an integrated South African mining company and the world's seventh
largest gold producer with reserves of over 81 million ounces of gold. In
November 1995, JCI entered into a joint venture agreement with Tan Range
and provided financing to Tan Range by way of private placement. JCI is Tan
Range's largest shareholder holding 15% of the issued share capital of the
company.
For further information contact investor relations at:
Telephone: (604) 669-5598
Toll free: 1-800-811-3855
Fax: (604) 669-8915 |
