Hi Mike,
Looks good,
Tan Range Exploration Corp
TNX
Shares issued 32181633
1997-07-23 close $0.88
Thursday Jul 24 1997
Mr Marek Kreczmer reports
Tan Range has received independent confirmation that the
area exposed by illegal miners on the Itetemia property
contains a significant mineralized zone, indicating an
extension of the structure hosting Sutton Resources' 5.6
million ounce Bulyanhulu gold deposit (geological
resource of 13.4 million metric tonnes at 13.01 gm/t).
The company previously announced that artisinal miners
had excavated approximately 180 pits across a length of
600 metres. Independent sampling, conducted by
Johannesburg based Hennie Blignault & Associates,
examined 155 accessible artisinal pits. Findings revealed a
highly mineralized zone of at least four sub-parallel quartz
veins hosted within mineralized sheared volcanic rocks.
Gold mineralization was confirmed in both the host rock
and the quartz veins. Each vein is approximately one metre
thick. The gold bearing volcanic shear zone is roughly 10
metres thick.
Encouraging results were obtained along this north-west
striking shear zone. 571 samples returned values ranging
from nil (taken outside the zone) to 46.84 gm/t. One
interval returned values of 6.6 gm/t Au over 11.4 metres
vertical (0.193 oz/t over 37.4 ft). Higher gold values, up to
36 gm/t Au over one metre (1.050 oz/t over 3.28 ft) were
commonly found. Grab samples were assayed as high as
46.84 gm/t Au (1.343 oz/t). Fire assay analysis of all
samples was completed and verified by Acme Analytical
Laboratories of Vancouver, BC.
Based on the 155 pits sampled, the mineralized zone has
now been confirmed across a length of 380 metres. This
gold-bearing zone is truncated against granite toward the
southeast and is open to the northwest. An induced
polarization (IP) geophysical survey conducted over the
workings revealed that a strong metal factor anomaly
continues for another 800 metres to the northwest,
indicating an ore zone approaching a length of 1,200
metres.
The high metal factor, along with the highly mineralized
quartz veins and wide shear zone, suggest both mass and
depth of the ore body, consistent with the geologic
structure of the adjacent Bulyankhulu gold reserve.
Tan Range crews now have unobstructed access to the
illegal mining pits as a result of the previously announced
agreement with the local miners, who continue to decrease
in number as they are no longer allowed to dig additional
pits.
With this issue resolved to the company's satisfaction,
diamond drilling is scheduled to begin shortly on the
promising mineralized reef that spawned Itetemia's artisinal
gold rush.
(c) Copyright 1997 Canjex Publishing Ltd.
canada-stockwatch.com
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