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| | Wed Sep 23, 2009
Tanzanian Royalty Announces Completion of 43-101 Technical Report For Ushirombo Project. The 43-101 compliant technical report has been filed on SEDAR. (Click here)
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| | The Company is pleased to report that a National Instrument 43-101 compliant Technical Report has been completed for its 235 square kilometres Ushirombo mineral property in the Lake Victoria Goldfields of Tanzania.
Among the most prominent geological features cited in the report is the fact that Ushirombo occurs in the same structural setting as the known gold mineralization at the Tulawaka gold mine 30 kilometres to the northwest. Both Ushirombo and Tulawaka are known to host extensive, goldbearing quartz rubble at or near surface which in the former's case is largely concentrated around artisanal mining areas.
The 43-101 compliant technical report recommends extensive follow-up exploration work in the core area of the Ushirombo property in an effort to confirm gold-in-quartz mineralization on surface and to extend the gold mineralization in the principal artisanal workings.
In January of this year Tanzanian Royalty prepared a new geological interpretation of the Ushirombo property, integrating airborne magnetic/radiometric data, geological mapping and RAB drilling results from earlier exploration programs.
As a result of the review process, the Company identified the "Ushirombo Gold Corridor" (UGC), a 12 kilometres long by six kilometres wide northwest-trending zone as the prime target area.. Most of the project area occurs in greenstones which account for the majority of global gold production.
The UGC contains the areas of historic and current artisanal gold mining and is traversed by the principal regional structures that appear to be associated with known gold mineralization in the region.
James E. Sinclair, Chairman and CEO of Tanzanian Royalty, said the report "confirms our internal expectations for the project and sets in motion a budgetary process that will see substantial new funding made available to evaluate Ushirombo's gold potential, with a specific emphasis on surface-enriched areas including the quartz gravels."
The Ushirombo 43-101 report was prepared by Martin J. Taylor, P.Geo, a Toronto-based independent consulting geologist who fulfills the requirements to be a "Qualified Person" for the purposes of NI 43-101.
Respectfully Submitted,
"James E. Sinclair"
James E. Sinclair
Chairman and Chief Executive Officer
For further information, please contact Investor Relations at 1-800-811-3855 Visit our website: www.TanzanianRoyaltyExploration.com
The Toronto Stock Exchange and NYSE Amex Equities have not reviewed and do not accept responsibility for the adequacy or accuracy of this release
Cautionary Note to U.S. Investors - The United States Securities and Exchange Commission limits disclosure for U.S. reporting purposes to mineral deposits that a company can economically and legally extract or produce. We use certain terms on this news release, such as "reserves", "resources", "geologic resources", "proven", "probable", "measured", "indicated", or "inferred" which may not be consistent with the reserve definitions established by the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 20-F, File No. 001-32500. You can review and obtain copies of these filings from the SEC's website at http://www.sec.gov/edgar.shtml.
Certain information presented in this release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on numerous assumptions, and involve known and unknown risks, uncertainties and other factors, including risks inherent in mineral exploration and development, which may cause the actual results, performance, or achievements of the Company to be materially different from any projected future results, performance, or achievements expressed or implied by such forward-looking statements. Investors are referred to our description of the risk factors affecting the Company, as contained in our Form 20-F, File No. 001-32500, for more information concerning these risks, uncertainties, and other factors. |
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