Tan Range Exploration Corporation - diamond drill hole to 200 meter level shows good continuity of Golden
Horseshoe Reef
VANCOUVER, March 3 /CNW/ - Tan Range Exploration Corporation has received
the first batch of assay results from its diamond drilling program designed to
test the down dip extension of the Golden Horseshoe Reef deposit. Hole ITDD-
39 intersected gold mineralization at the 200 meter level, 100 meters deeper
than any previous drilling, with excellent results.
The central core assays 5.08 gm Au/T over 2.50 meters within a much wider
mineralized interval; 23 meters averaging 2.33 gm Au/T. Earlier drilling
above hole ITDD-39 and along the 400 meter strike length of the deposit shows
good continuity of both the broadly mineralized zone (20-30 meters) and the
higher grade core within it (2-10 meters). The following table shows the
distribution of gold within the high grade core from the 35 meter level to the
200 meter level near Section 2600E.
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(xx)GOLD DISTRIBUTION WITHIN CENTRAL CORE(xx)
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HOLE NO. DEPTH (M) INTERCEPT (M) GOLD GRADE (G/T)
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ITDD-12* 35 6.40 10.27
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ITDD-13* 40 5.10 6.30
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ITDD-22 105 3.49 11.82
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ITDD-39 200 2.50 5.08
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>>
* ITDD-12 was the discovery drill hole at the Golden Horseshoe Reef
and ITDD-13 was drilled to test the same target from the opposite
direction to establish the dip.
We are awaiting assay results from a hole drilled 1250 meters to the west
on Line 1400W. A RAB hole drilled in this location returned assays of 2 gm
Au/T over 2 meters. Visually the core looks very similar to the rest of the
Golden Horseshoe holes, suggesting that the mineralized system is at least
1500 meters long. The deposit remains open along strike and to depth.
The Itetemia Project is operated as a joint venture with Barrick Gold who
are developing the adjacent 7.5 million ounce Bulyanhulu gold deposit. The
joint venture agreement requires Barrick to subscribe for 1,176,471 Tan Range
shares at $0.85 ($1.0 million) before May 15, 2000. Tan Range is required to
spend 80% of these funds to develop the Itetemia property.
TAN RANGE EXPLORATION CORPORATION
``Marek Kreczmer'
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MAREK J. KRECZMER, M.Sc., P.Eng., P.Geo.
President and Chief Executive Officer |
