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